Garmin Ltd. (NYSE:GRMN) VP Sells $609,677.79 in Stock

Garmin Ltd. (NYSE:GRMN) VP Susan Lyman sold 2,829 shares of Garmin stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $215.51, for a total value of $609,677.79. Following the sale, the vice president now directly owns 8,432 shares of the company’s stock, valued at approximately $1,817,180.32. This represents a 25.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Garmin Stock Down 0.9 %

Shares of NYSE GRMN traded down $1.84 during midday trading on Tuesday, reaching $213.48. 952,763 shares of the stock were exchanged, compared to its average volume of 869,993. The firm has a market cap of $41.07 billion, a price-to-earnings ratio of 29.20, a PEG ratio of 1.36 and a beta of 0.96. The firm has a 50-day simple moving average of $216.43 and a two-hundred day simple moving average of $199.91. Garmin Ltd. has a twelve month low of $138.86 and a twelve month high of $246.50.

Garmin (NYSE:GRMN) last released its quarterly earnings data on Wednesday, February 19th. The scientific and technical instruments company reported $2.41 earnings per share for the quarter, beating 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 company had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.70 billion. During the same quarter in the previous year, the company earned $1.72 earnings per share. The firm’s revenue for the quarter was up 22.9% on a year-over-year basis. Research analysts expect that Garmin Ltd. will post 7.8 EPS for the current fiscal year.

Garmin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be issued a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 1.69%. The ex-dividend date is Friday, March 13th. Garmin’s payout ratio is currently 41.04%.

Institutional Trading of Garmin

Institutional investors and hedge funds have recently made changes to their positions in the business. Golden State Wealth Management LLC acquired a new position in shares of Garmin during the fourth quarter valued at approximately $26,000. Aster Capital Management DIFC Ltd increased its holdings in shares of Garmin by 864.3% in the fourth 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. purchased a new position in Garmin during the fourth quarter worth approximately $29,000. SOA Wealth Advisors LLC. acquired a new position in Garmin during the fourth quarter worth $37,000. Finally, Larson Financial Group LLC grew its holdings in 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 buying an additional 162 shares in the last quarter. 81.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on GRMN. JPMorgan Chase & Co. lifted their target price on Garmin from $219.00 to $260.00 and gave the stock a “neutral” rating in a report on Thursday, February 20th. Barclays lifted their price objective on shares of Garmin from $158.00 to $188.00 and gave the company an “underweight” rating in a research note on Thursday, February 20th. Tigress Financial increased their price objective on shares of Garmin from $265.00 to $285.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, February 26th. Finally, Morgan Stanley raised shares of Garmin to a “sell” rating and raised their target price for the stock from $164.00 to $171.00 in a report on Tuesday, February 11th. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Garmin currently has a consensus rating of “Hold” and a consensus price target of $210.80.

Garmin Company Profile

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.