Garmin Ltd. (NASDAQ:GRMN) insider Clifton A. Pemble sold 4,066 shares of Garmin stock in a transaction on Friday, October 13th. The shares were sold at an average price of $55.00, for a total value of $223,630.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.
Garmin Ltd. (NASDAQ:GRMN) opened at 56.47 on Friday. Garmin Ltd. has a one year low of $46.80 and a one year high of $56.75. The firm has a market capitalization of $10.60 billion, a PE ratio of 15.87 and a beta of 0.86. The company has a 50 day moving average price of $53.82 and a 200-day moving average price of $52.02.
Garmin (NASDAQ:GRMN) last posted its quarterly earnings data on Wednesday, August 2nd. The scientific and technical instruments company reported $0.88 EPS for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.07. Garmin had a net margin of 22.07% and a return on equity of 15.55%. The company had revenue of $816.89 million during the quarter, compared to the consensus estimate of $806.67 million. During the same period in the prior year, the business posted $0.87 EPS. The company’s quarterly revenue was up .7% on a year-over-year basis. On average, equities analysts predict that Garmin Ltd. will post $2.80 EPS for the current year.
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Institutional investors have recently bought and sold shares of the company. Royal Bank of Canada boosted its stake in shares of Garmin by 30.4% during the 2nd quarter. Royal Bank of Canada now owns 231,794 shares of the scientific and technical instruments company’s stock worth $11,827,000 after buying an additional 53,984 shares during the last quarter. State of Wisconsin Investment Board boosted its stake in shares of Garmin by 46.0% during the 2nd quarter. State of Wisconsin Investment Board now owns 120,741 shares of the scientific and technical instruments company’s stock worth $6,161,000 after buying an additional 38,020 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its stake in shares of Garmin by 3.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 722,581 shares of the scientific and technical instruments company’s stock worth $36,874,000 after buying an additional 24,777 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of Garmin by 8.8% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 256,239 shares of the scientific and technical instruments company’s stock worth $13,076,000 after buying an additional 20,690 shares during the last quarter. Finally, Cutler Group LP acquired a new position in shares of Garmin during the 2nd quarter worth about $188,000. Institutional investors own 39.66% of the company’s stock.
Several equities analysts have recently issued reports on the company. Zacks Investment Research cut Garmin from a “buy” rating to a “hold” rating in a research report on Tuesday, October 17th. BidaskClub upgraded Garmin from a “strong sell” rating to a “sell” rating in a research report on Tuesday, August 22nd. Oppenheimer Holdings, Inc. reiterated a “market perform” rating on shares of Garmin in a research report on Tuesday, August 8th. Longbow Research reiterated a “buy” rating on shares of Garmin in a research report on Thursday, August 3rd. Finally, Morgan Stanley set a $50.00 target price on Garmin and gave the stock a “hold” rating in a report on Monday, July 31st. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $52.80.
Garmin Company Profile
Garmin Ltd. (Garmin) and subsidiaries offer global positioning system (GPS) navigation and wireless devices and applications. The Company operates through five segments. It offers a range of auto navigation products, as well as a range of products and applications designed for the mobile GPS market. It offers products to consumers around the world, including Outdoor Handhelds, Wearable Devices, Golf Devices, and Dog Tracking and Training/Pet Obedience Devices.
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