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 on Monday, March 10th. The shares were sold at an average price of $215.51, for a total value of $609,677.79. Following the completion of the transaction, the vice president now owns 8,432 shares of the company’s stock, valued at $1,817,180.32. The trade was a 25.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Garmin Stock Down 3.1 %

Shares of GRMN stock opened at $208.95 on Friday. The company has a market capitalization of $40.20 billion, a P/E ratio of 28.58, a P/E/G ratio of 1.36 and a beta of 0.96. Garmin Ltd. has a 12-month low of $138.86 and a 12-month high of $246.50. The firm has a 50-day moving average price of $216.85 and a 200 day moving average price of $200.32.

Garmin (NYSE:GRMN) last posted its earnings results on Wednesday, February 19th. The scientific and technical instruments company reported $2.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.90 by $0.51. The company had revenue of $1.82 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.72 earnings per share. As a group, research analysts expect that Garmin Ltd. will post 7.8 earnings per share for the current year.

Garmin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 1.72%. The ex-dividend date of this dividend is Friday, March 13th. Garmin’s payout ratio is presently 41.04%.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Garmin

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GRMN. Geneos Wealth Management Inc. lifted its holdings in Garmin by 1.7% during the 4th quarter. Geneos Wealth Management Inc. now owns 2,863 shares of the scientific and technical instruments company’s stock worth $591,000 after buying an additional 49 shares in the last quarter. Curbstone Financial Management Corp raised its position in shares of Garmin by 1.3% during the fourth quarter. Curbstone Financial Management Corp now owns 3,886 shares of the scientific and technical instruments company’s stock worth $802,000 after acquiring an additional 50 shares during the last quarter. Larson Financial Group LLC lifted its stake in shares of Garmin by 26.8% during the fourth quarter. Larson Financial Group LLC now owns 241 shares of the scientific and technical instruments company’s stock valued at $50,000 after acquiring an additional 51 shares during the period. Addison Advisors LLC lifted its stake in shares of Garmin by 11.1% during the fourth quarter. Addison Advisors LLC now owns 522 shares of the scientific and technical instruments company’s stock valued at $108,000 after acquiring an additional 52 shares during the period. Finally, HB Wealth Management LLC increased its position in Garmin by 1.4% in the fourth quarter. HB Wealth Management LLC now owns 3,821 shares of the scientific and technical instruments company’s stock worth $788,000 after purchasing an additional 53 shares during the period. Institutional investors and hedge funds 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.