Bank of Montreal Can decreased its stake in Garmin Ltd. (NASDAQ:GRMN) by 30.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 39,416 shares of the scientific and technical instruments company’s stock after selling 49,931 shares during the period. Bank of Montreal Can owned approximately 0.06% of Garmin worth $3,430,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Envestnet Asset Management Inc. raised its position in Garmin by 28.4% during the 3rd quarter. Envestnet Asset Management Inc. now owns 5,830 shares of the scientific and technical instruments company’s stock worth $432,000 after purchasing an additional 1,347 shares during the last quarter. Victory Capital Management Inc. raised its position in Garmin by 15.2% during the 3rd quarter. Victory Capital Management Inc. now owns 11,655 shares of the scientific and technical instruments company’s stock worth $968,000 after purchasing an additional 1,590 shares during the last quarter. Godfrey Hirst & Co. LLC bought a new stake in Garmin during the 3rd quarter worth about $237,000. Ladenburg Thalmann Financial Services Inc. raised its position in Garmin by 2.3% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 234,398 shares of the scientific and technical instruments company’s stock worth $18,986,000 after purchasing an additional 5,835 shares during the last quarter. Finally, Wells Fargo & Company MN raised its position in Garmin by 4.9% during the 3rd quarter. Wells Fargo & Company MN now owns 101,753 shares of the scientific and technical instruments company’s stock worth $8,653,000 after purchasing an additional 4,705 shares during the last quarter. Institutional investors own 75.37% of the company’s stock.

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Several equities research analysts have commented on the stock. BidaskClub raised shares of Garmin from a “hold” rating to a “buy” rating in a research note on Thursday, January 24th. Zacks Investment Research raised shares of Garmin from a “sell” rating to a “hold” rating in a research note on Tuesday, January 22nd.

Shares of GRMN opened at $43.51 on Friday. Garmin Ltd. has a twelve month low of $38.15 and a twelve month high of $50.35. The firm has a market cap of $13.16 billion, a PE ratio of 17.67, a PEG ratio of 1.04 and a beta of 0.71. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.68 and a current ratio of 1.72.

Garmin (NASDAQ:GRMN) last announced its quarterly earnings data on Tuesday, January 22nd. The scientific and technical instruments company reported $0.91 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.08. Garmin had a net margin of 20.60% and a return on equity of 23.85%. The business had revenue of $778.60 million for the quarter, compared to analyst estimates of $776.40 million. During the same quarter in the prior year, the firm earned $0.82 EPS. The business’s revenue was up 7.9% compared to the same quarter last year. Research analysts forecast that Garmin Ltd. will post 3.9 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 28th. Investors of record on Monday, March 11th will be issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date is Friday, March 8th. Garmin’s dividend payout ratio (DPR) is presently 13.37%.

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