Matthew Munn Sells 4,637 Shares of Garmin Ltd. (NYSE:GRMN) Stock

Garmin Ltd. (NYSE:GRMN) Director Matthew Munn sold 4,637 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $225.31, for a total transaction of $1,044,762.47. Following the completion of the transaction, the director now owns 11,450 shares of the company’s stock, valued at $2,579,799.50. The trade was a 28.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Garmin Price Performance

GRMN opened at $228.88 on Friday. Garmin Ltd. has a fifty-two week low of $136.25 and a fifty-two week high of $246.50. The firm has a market capitalization of $44.04 billion, a price-to-earnings ratio of 31.31, a PEG ratio of 1.36 and a beta of 0.98. The company’s 50 day moving average price is $215.06 and its two-hundred day moving average price is $197.77.

Garmin (NYSE:GRMN) last posted its earnings results on Wednesday, February 19th. The scientific and technical instruments company reported $2.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.51. Garmin had a net margin of 22.42% and a return on equity of 19.31%. The firm had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.70 billion. During the same period in the previous year, the firm posted $1.72 EPS. The company’s revenue for the quarter was up 22.9% compared to the same quarter last year. As a group, equities research analysts predict that Garmin Ltd. will post 7.8 EPS for the current year.

Garmin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date is Friday, March 13th. Garmin’s dividend payout ratio is currently 41.04%.

Institutional Investors Weigh In On Garmin

Institutional investors have recently modified their holdings of the company. Golden State Wealth Management LLC bought a new stake in shares of Garmin in the 4th quarter valued at $26,000. Aster Capital Management DIFC Ltd boosted its stake in shares of Garmin by 864.3% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 135 shares of the scientific and technical instruments company’s stock valued at $28,000 after purchasing an additional 121 shares during the last quarter. Pinnacle Bancorp Inc. bought a new stake in shares of Garmin in the 4th quarter valued at $29,000. Larson Financial Group LLC boosted its stake in shares of Garmin by 578.6% in the 3rd quarter. Larson Financial Group LLC now owns 190 shares of the scientific and technical instruments company’s stock valued at $33,000 after purchasing an additional 162 shares during the last quarter. Finally, SOA Wealth Advisors LLC. bought a new stake in Garmin in the fourth quarter valued at $37,000. 81.60% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on GRMN shares. Tigress Financial upped their price objective on shares of Garmin from $265.00 to $285.00 and gave the stock a “strong-buy” rating in a research report on Wednesday. Barclays upped their price objective on shares of Garmin from $158.00 to $188.00 and gave the stock an “underweight” rating in a research report on Thursday, February 20th. JPMorgan Chase & Co. upped their price objective on shares of Garmin from $219.00 to $260.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. Finally, Morgan Stanley upgraded shares of Garmin to a “sell” rating and upped their price objective for the stock from $164.00 to $171.00 in a research report on Tuesday, February 11th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a strong buy rating to the company. According to MarketBeat, Garmin presently has a consensus rating of “Hold” and an average target price of $210.80.

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.