Garmin Ltd. (NYSE:GRMN) Director Philip Straub Sells 2,750 Shares

Garmin Ltd. (NYSE:GRMN) Director Philip Straub sold 2,750 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $181.46, for a total value of $499,015.00. Following the completion of the sale, the director now owns 88,622 shares in the company, valued at $16,081,348.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Garmin Trading Down 0.4 %

Shares of NYSE:GRMN opened at $180.09 on Friday. The company has a 50 day moving average of $171.90 and a 200-day moving average of $159.47. The firm has a market cap of $34.59 billion, a P/E ratio of 25.40, a P/E/G ratio of 3.17 and a beta of 0.98. Garmin Ltd. has a twelve month low of $99.61 and a twelve month high of $183.88.

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

Garmin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be paid a dividend of $0.75 per share. The ex-dividend date is Friday, March 14th. This represents a $3.00 annualized dividend and a yield of 1.67%. Garmin’s dividend payout ratio is currently 42.31%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Clearstead Trust LLC bought a new position in shares of Garmin during the 1st quarter valued at about $30,000. Family Firm Inc. acquired a new stake in Garmin during the second quarter valued at approximately $35,000. Benjamin Edwards Inc. boosted its holdings in Garmin by 73.3% during the second quarter. Benjamin Edwards Inc. now owns 234 shares of the scientific and technical instruments company’s stock worth $38,000 after buying an additional 99 shares in the last quarter. Frazier Financial Advisors LLC acquired a new position in Garmin in the fourth quarter worth approximately $33,000. Finally, Headlands Technologies LLC bought a new position in shares of Garmin in the second quarter valued at $46,000. 73.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on GRMN. StockNews.com cut shares of Garmin from a “buy” rating to a “hold” rating in a report on Friday. Tigress Financial raised their price target on shares of Garmin from $175.00 to $210.00 and gave the company a “strong-buy” rating in a research note on Tuesday, May 14th. Finally, Bank of America cut Garmin from a “neutral” rating to an “underperform” rating and cut their price target for the company from $165.00 to $150.00 in a report on Wednesday, May 22nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $156.83.

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.