Garmin Ltd. (NASDAQ:GRMN) EVP Patrick Desbois sold 3,818 shares of Garmin stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $94.95, for a total value of $362,519.10. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.
GRMN opened at $97.50 on Wednesday. The company has a market cap of $18.12 billion, a PE ratio of 19.16, a price-to-earnings-growth ratio of 4.01 and a beta of 0.99. The stock has a 50-day moving average of $90.31 and a 200-day moving average of $89.08. Garmin Ltd. has a 52-week low of $61.04 and a 52-week high of $105.58. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.74 and a current ratio of 3.75.
Garmin (NASDAQ:GRMN) last released its quarterly earnings results on Wednesday, April 29th. The scientific and technical instruments company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.07. Garmin had a return on equity of 19.38% and a net margin of 25.30%. The company had revenue of $856.11 million during the quarter, compared to the consensus estimate of $817.65 million. During the same quarter in the prior year, the company posted $0.73 EPS. The firm’s revenue was up 11.8% on a year-over-year basis. On average, research analysts predict that Garmin Ltd. will post 3.22 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 31st. Investors of record on Monday, March 15th will be paid a dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, March 12th. This represents a $2.44 annualized dividend and a yield of 2.50%. Garmin’s payout ratio is 54.83%.
Several brokerages recently commented on GRMN. Cfra dropped their target price on Garmin from $104.00 to $95.00 and set a “hold” rating on the stock in a report on Wednesday, April 29th. Cleveland Research upgraded Garmin from a “neutral” rating to a “buy” rating in a research report on Monday, March 16th. JPMorgan Chase & Co. boosted their price objective on Garmin from $92.00 to $101.00 and gave the company an “overweight” rating in a research report on Monday, June 8th. Morgan Stanley boosted their price target on Garmin from $77.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 30th. Finally, Zacks Investment Research upgraded Garmin from a “sell” rating to a “hold” rating and set a $91.00 price target for the company in a research report on Wednesday, May 27th. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. Garmin presently has an average rating of “Hold” and a consensus price target of $95.29.
A number of large investors have recently made changes to their positions in GRMN. Norges Bank bought a new stake in Garmin during the 4th quarter valued at approximately $131,328,000. FMR LLC raised its holdings in Garmin by 6,089.2% in the 4th quarter. FMR LLC now owns 1,205,474 shares of the scientific and technical instruments company’s stock valued at $117,606,000 after acquiring an additional 1,185,997 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Garmin by 30.7% in the 1st quarter. JPMorgan Chase & Co. now owns 2,645,425 shares of the scientific and technical instruments company’s stock valued at $198,301,000 after acquiring an additional 621,184 shares in the last quarter. APG Asset Management N.V. raised its holdings in Garmin by 327.0% in the 1st quarter. APG Asset Management N.V. now owns 776,025 shares of the scientific and technical instruments company’s stock valued at $59,678,000 after acquiring an additional 594,293 shares in the last quarter. Finally, Janus Henderson Group PLC raised its holdings in Garmin by 36.6% in the 4th quarter. Janus Henderson Group PLC now owns 1,689,034 shares of the scientific and technical instruments company’s stock valued at $164,782,000 after acquiring an additional 452,739 shares in the last quarter. Hedge funds and other institutional investors own 46.95% of the company’s stock.
Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of navigation, communication, and information devices worldwide. It operates through five segments: Auto, Aviation, Marine, Outdoor, and Fitness. The Auto segment offers personal navigation devices; infotainment systems; and action cameras, as well as mobile applications under the Garmin and NAVIGON names.
See Also: Institutional Investors
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