Insider Selling: Garmin Ltd. (NYSE:GRMN) CEO Sells 7,202 Shares of Stock

Garmin Ltd. (NYSE:GRMN) CEO Clifton A. Pemble sold 7,202 shares of the company’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $227.14, for a total transaction of $1,635,862.28. Following the completion of the transaction, the chief executive officer now owns 149,525 shares of the company’s stock, valued at $33,963,108.50. This represents a 4.60 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Garmin Trading Down 1.3 %

Shares of GRMN stock opened at $223.98 on Friday. Garmin Ltd. has a twelve month low of $134.11 and a twelve month high of $246.50. The business’s 50 day moving average is $214.66 and its two-hundred day moving average is $197.16. The company has a market capitalization of $43.09 billion, a P/E ratio of 30.64, a price-to-earnings-growth ratio of 1.36 and a beta of 0.98.

Garmin (NYSE:GRMN) last posted 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. The firm had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.70 billion. Garmin had a net margin of 22.42% and a return on equity of 19.31%. Garmin’s quarterly revenue was up 22.9% on a year-over-year basis. During the same period last year, the firm posted $1.72 EPS. As a group, equities analysts predict that Garmin Ltd. will post 7.8 earnings per share for the current fiscal year.

Garmin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be issued a dividend of $0.90 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a $3.60 annualized dividend and a yield of 1.61%. Garmin’s dividend payout ratio is currently 41.04%.

Wall Street Analyst Weigh In

GRMN has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upped their target price on Garmin from $219.00 to $260.00 and gave the company a “neutral” rating in a research report on Thursday, February 20th. Morgan Stanley raised Garmin to a “sell” rating and increased their price objective for the company from $164.00 to $171.00 in a report on Tuesday, February 11th. Barclays raised their target price 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. Finally, Tigress Financial upped their price target on shares of Garmin from $265.00 to $285.00 and gave the company a “strong-buy” rating in a research report on Wednesday. Three 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. Based on data from MarketBeat.com, Garmin currently has a consensus rating of “Hold” and a consensus price target of $210.80.

Institutional Investors Weigh In On Garmin

A number of institutional investors have recently added to or reduced their stakes in GRMN. Fidelity D & D Bancorp Inc. lifted its holdings in shares of Garmin by 13.2% in the 4th quarter. Fidelity D & D Bancorp Inc. now owns 1,857 shares of the scientific and technical instruments company’s stock valued at $383,000 after buying an additional 217 shares during the period. Azzad Asset Management Inc. ADV raised its position in Garmin by 1.1% in the fourth quarter. Azzad Asset Management Inc. ADV now owns 20,954 shares of the scientific and technical instruments company’s stock worth $4,322,000 after acquiring an additional 222 shares in the last quarter. Investment Management Corp VA ADV acquired a new stake in Garmin in the fourth quarter valued at $46,000. JT Stratford LLC boosted its position in shares of Garmin by 5.0% during the 4th quarter. JT Stratford LLC now owns 9,448 shares of the scientific and technical instruments company’s stock worth $1,949,000 after purchasing an additional 451 shares in the last quarter. Finally, Novem Group acquired a new position in shares of Garmin during the 4th quarter worth $987,000. Hedge funds and other institutional investors own 81.60% of the company’s stock.

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.