American Century Companies Inc. Boosts Stake in Garmin Ltd. (NYSE:GRMN)

American Century Companies Inc. raised its position in Garmin Ltd. (NYSE:GRMN – Free Report) by 4.

9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 60,280 shares of the scientific and technical instruments company’s stock after purchasing an additional 2,841 shares during the quarter. American Century Companies Inc.



’s holdings in Garmin were worth $12,433,000 at the end of the most recent quarter. Several other hedge funds and other institutional investors have also modified their holdings of the company. Jacobs Levy Equity Management Inc.

lifted its position in Garmin by 1,580.3% during the third quarter. Jacobs Levy Equity Management Inc.

now owns 287,283 shares of the scientific and technical instruments company’s stock valued at $50,570,000 after buying an additional 270,186 shares in the last quarter. Allianz Asset Management GmbH increased its holdings in Garmin by 32.2% in the 4th quarter.

Allianz Asset Management GmbH now owns 675,950 shares of the scientific and technical instruments company’s stock valued at $139,421,000 after purchasing an additional 164,818 shares in the last quarter. Teacher Retirement System of Texas raised its position in Garmin by 79.3% in the fourth quarter.

Teacher Retirement System of Texas now owns 361,490 shares of the scientific and technical instruments company’s stock valued at $74,561,000 after purchasing an additional 159,860 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Garmin during the fourth quarter worth about $32,795,000.

Finally, Proficio Capital Partners LLC purchased a new stake in shares of Garmin in the fourth quarter worth about $31,454,000. 81.60% of the stock is owned by institutional investors and hedge funds.

Garmin Trading Up 0.2 %GRMN stock opened at $217.48 on Wednesday.

The stock’s 50 day simple moving average is $217.34 and its 200 day simple moving average is $203.59.

Garmin Ltd. has a 12-month low of $138.86 and a 12-month high of $246.

50. The firm has a market cap of $41.84 billion, a P/E ratio of 29.

75, a P/E/G ratio of 1.36 and a beta of 0.96.

Garmin (NYSE:GRMN – Get Free Report) last issued its earnings results on Wednesday, February 19th. The scientific and technical instruments company reported $2.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.

90 by $0.51. Garmin had a net margin of 22.

42% and a return on equity of 19.31%. The company had revenue of $1.

82 billion for the quarter, compared to analysts’ expectations of $1.70 billion. During the same period in the prior year, the company earned $1.

72 earnings per share. The firm’s revenue was up 22.9% compared to the same quarter last year.

On average, research analysts forecast that Garmin Ltd. will post 7.8 EPS for the current fiscal year.

Garmin Announces DividendThe business also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be issued a dividend of $0.90 per share.

This represents a $3.60 annualized dividend and a dividend yield of 1.66%.

The ex-dividend date is Friday, March 13th. Garmin’s dividend payout ratio (DPR) is presently 49.25%.

Analysts Set New Price TargetsA number of research firms have weighed in on GRMN. Morgan Stanley upgraded Garmin to a “sell” rating and upped their price target for the stock from $164.00 to $171.

00 in a report on Tuesday, February 11th. Barclays boosted their price objective on shares of Garmin from $158.00 to $188.

00 and gave the stock an “underweight” rating in a report on Thursday, February 20th. JPMorgan Chase & Co. lifted their target price on Garmin from $219.

00 to $260.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. Finally, Tigress Financial increased their price target on Garmin from $265.

00 to $285.00 and gave the company a “strong-buy” rating in a report on Wednesday, February 26th. Three research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a strong buy rating to the company.

Based on data from MarketBeat, Garmin has an average rating of “Hold” and an average target price of $210.80.View Our Latest Stock Report on GRMNInsider Transactions at GarminIn related news, CEO Clifton A.

Pemble sold 7,202 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $227.14, for a total value of $1,635,862.

28. Following the sale, the chief executive officer now owns 149,525 shares of the company’s stock, valued at $33,963,108.50.

This trade represents a 4.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Also, COO Patrick Desbois sold 6,911 shares of the business’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $227.15, for a total transaction of $1,569,833.

65. Following the transaction, the chief operating officer now directly owns 63,048 shares of the company’s stock, valued at $14,321,353.20.

The trade was a 9.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

In the last ninety days, insiders have sold 24,342 shares of company stock worth $5,486,094. 19.54% of the stock is currently owned by company insiders.

About Garmin (Free Report)Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of wireless devices worldwide. Its Fitness segment offers running and multi-sport watches; cycling products; smartwatch devices; scales and monitors; and fitness accessories.

This segment also provides Garmin Connect and Garmin Connect Mobile, which are web and mobile platforms where users can track and analyze their fitness, activities and workouts, and wellness data; and Connect IQ, an application development platform.See AlsoFive stocks we like better than GarminAbout the Markup CalculatorD-Wave: Multiple Use Cases Emerge Following Quantum SupremacyWhat Does a Stock Split Mean? Amazon Falls Back to a Key Support Line: Here’s How to Play ItETF Screener: Uses and Step-by-Step Guide Buffett Trims Equities, But Still Keeps Buying This Stock Want to see what other hedge funds are holding GRMN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Garmin Ltd.

(NYSE:GRMN – Free Report)..