Garmin (NYSE:GRMN) Hits New 1-Year High at $168.00

Shares of Garmin Ltd. (NYSE:GRMN) reached a new 52-week high on Tuesday . The company traded as high as $168.00 and last traded at $167.39, with a volume of 29613 shares. The stock had previously closed at $167.88.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on GRMN shares. JPMorgan Chase & Co. lifted their target price on Garmin from $155.00 to $175.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. StockNews.com downgraded Garmin from a “buy” rating to a “hold” rating in a report on Wednesday. Barclays lifted their price objective on Garmin from $140.00 to $166.00 and gave the company an “equal weight” rating in a report on Thursday, May 2nd. Bank of America lifted their price objective on Garmin from $120.00 to $165.00 and gave the company a “neutral” rating in a report on Wednesday, April 3rd. Finally, Tigress Financial reaffirmed a “strong-buy” rating and set a $175.00 price objective (up from $165.00) on shares of Garmin in a report on Tuesday, February 27th. Six investment analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $153.50.

Garmin Stock Down 0.4 %

The firm has a market capitalization of $32.52 billion, a P/E ratio of 23.88, a PEG ratio of 5.31 and a beta of 0.99. The stock has a fifty day moving average of $147.88 and a 200-day moving average of $131.07.

Garmin (NYSE:GRMN) last announced its quarterly earnings data on Wednesday, May 1st. The scientific and technical instruments company reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.42. Garmin had a return on equity of 17.26% and a net margin of 24.96%. The firm had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same period last year, the company earned $1.02 EPS. The business’s quarterly revenue was up 20.4% compared to the same quarter last year. As a group, analysts forecast that Garmin Ltd. will post 5.58 EPS for the current fiscal year.

Garmin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.77%. The ex-dividend date is Friday, December 13th. Garmin’s dividend payout ratio (DPR) is presently 42.31%.

Insider Transactions at Garmin

In other news, CEO Clifton A. Pemble sold 1,622 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $134.19, for a total value of $217,656.18. Following the transaction, the chief executive officer now directly owns 159,319 shares in the company, valued at approximately $21,379,016.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Clifton A. Pemble sold 1,622 shares of Garmin stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $134.19, for a total transaction of $217,656.18. Following the transaction, the chief executive officer now owns 159,319 shares of the company’s stock, valued at approximately $21,379,016.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Susan Lyman sold 2,587 shares of Garmin stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $135.18, for a total transaction of $349,710.66. Following the transaction, the vice president now directly owns 7,174 shares in the company, valued at approximately $969,781.32. The disclosure for this sale can be found here. Insiders sold a total of 99,476 shares of company stock worth $14,166,944 in the last quarter. 19.54% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Wetzel Investment Advisors Inc. bought a new stake in shares of Garmin in the fourth quarter worth $26,000. Frazier Financial Advisors LLC acquired a new position in Garmin during the fourth quarter worth $33,000. Blue Trust Inc. increased its holdings in Garmin by 35.2% during the fourth quarter. Blue Trust Inc. now owns 380 shares of the scientific and technical instruments company’s stock worth $49,000 after buying an additional 99 shares during the last quarter. Turtle Creek Wealth Advisors LLC acquired a new position in Garmin during the fourth quarter worth $51,000. Finally, Headinvest LLC acquired a new position in Garmin during the third quarter worth $41,000. Institutional investors own 73.41% of the company’s stock.

About Garmin

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.