Sentry Investment Management LLC Has $109,000 Position in Garmin Ltd. (NYSE:GRMN)

Sentry Investment Management LLC reduced its holdings in shares of Garmin Ltd. (NYSE:GRMN) by 17.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 669 shares of the scientific and technical instruments company’s stock after selling 137 shares during the period. Sentry Investment Management LLC’s holdings in Garmin were worth $109,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Clearstead Trust LLC acquired a new stake in shares of Garmin in the 1st quarter valued at $30,000. Frazier Financial Advisors LLC bought a new stake in Garmin during the fourth quarter worth about $33,000. Family Firm Inc. acquired a new stake in shares of Garmin during the second quarter worth approximately $35,000. Headlands Technologies LLC bought a new position in shares of Garmin in the second quarter valued at approximately $46,000. Finally, West Oak Capital LLC acquired a new position in shares of Garmin in the 2nd quarter worth approximately $53,000. Institutional investors own 73.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on GRMN shares. Bank of America cut Garmin from a “neutral” rating to an “underperform” rating and dropped their price target for the company from $165.00 to $150.00 in a report on Wednesday, May 22nd. StockNews.com lowered Garmin from a “buy” rating to a “hold” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $156.83.

Insider Buying and Selling at Garmin

In other news, insider Cheng-Wei Wang sold 10,055 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $177.16, for a total value of $1,781,343.80. Following the transaction, the insider now directly owns 40,965 shares in the company, valued at approximately $7,257,359.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Cheng-Wei Wang sold 10,055 shares of Garmin stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $177.16, for a total transaction of $1,781,343.80. Following the transaction, the insider now owns 40,965 shares of the company’s stock, valued at approximately $7,257,359.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Philip Straub sold 2,750 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $181.46, for a total transaction of $499,015.00. Following the completion of the sale, the director now directly owns 88,622 shares of the company’s stock, valued at approximately $16,081,348.12. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,892 shares of company stock worth $2,296,174. Insiders own 19.54% of the company’s stock.

Garmin Stock Down 0.0 %

GRMN stock opened at $182.73 on Friday. The business has a fifty day moving average of $173.58 and a 200-day moving average of $160.88. The company has a market cap of $35.10 billion, a P/E ratio of 25.77, a PEG ratio of 3.12 and a beta of 1.00. Garmin Ltd. has a twelve month low of $99.61 and a twelve month high of $184.42.

Garmin (NYSE:GRMN) last released its earnings results on Wednesday, July 31st. The scientific and technical instruments company reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.40 by $0.18. The company had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.42 billion. Garmin had a net margin of 24.36% and a return on equity of 17.09%. The company’s revenue was up 14.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.45 EPS. As a group, equities research analysts anticipate that Garmin Ltd. will post 6.05 earnings per share for the current fiscal year.

Garmin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date is Friday, March 14th. Garmin’s dividend payout ratio is presently 42.31%.

Garmin Company Profile

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.