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

Garmin Ltd. (NYSE:GRMN) VP Susan Lyman sold 2,829 shares of the company’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $215.51, for a total transaction of $609,677.79. Following the completion of the transaction, the vice president now owns 8,432 shares in the company, valued at approximately $1,817,180.32. The trade was a 25.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Garmin Stock Performance

Shares of GRMN opened at $215.78 on Thursday. The company has a 50 day moving average price of $216.76 and a 200-day moving average price of $200.26. Garmin Ltd. has a fifty-two week low of $138.86 and a fifty-two week high of $246.50. The stock has a market capitalization of $41.52 billion, a PE ratio of 29.52, a PEG ratio of 1.36 and a beta of 0.96.

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. The company had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.70 billion. Garmin had a return on equity of 19.31% and a net margin of 22.42%. Garmin’s revenue was up 22.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.72 earnings per share. Equities research analysts forecast that Garmin Ltd. will post 7.8 EPS for the current year.

Garmin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date of this dividend is Friday, March 13th. Garmin’s payout ratio is currently 41.04%.

Hedge Funds Weigh In On Garmin

Several institutional investors and hedge funds have recently added to or reduced their stakes in GRMN. Golden State Wealth Management LLC bought a new stake in shares of Garmin in the 4th quarter valued at about $26,000. Aster Capital Management DIFC Ltd raised its stake in shares of Garmin by 864.3% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 135 shares of the scientific and technical instruments company’s stock worth $28,000 after acquiring an additional 121 shares in the last quarter. Pinnacle Bancorp Inc. purchased a new stake in Garmin during the fourth quarter valued at approximately $29,000. Larson Financial Group LLC boosted its stake in Garmin by 578.6% in the third quarter. Larson Financial Group LLC now owns 190 shares of the scientific and technical instruments company’s stock valued at $33,000 after acquiring an additional 162 shares in the last quarter. Finally, SOA Wealth Advisors LLC. purchased a new position in Garmin in the fourth quarter worth $37,000. Hedge funds and other institutional investors own 81.60% of the company’s stock.

Analyst Upgrades and Downgrades

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