Garmin Ltd. (NASDAQ:GRMN) insider Pao-Chang Huang sold 4,800 shares of the company’s stock in a transaction on Thursday, March 15th. The stock was sold at an average price of $60.37, for a total value of $289,776.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Shares of Garmin stock opened at $59.51 on Thursday. The company has a market capitalization of $11,882.66, a price-to-earnings ratio of 16.17, a price-to-earnings-growth ratio of 2.36 and a beta of 0.97. Garmin Ltd. has a 12-month low of $48.50 and a 12-month high of $65.96.
Garmin (NASDAQ:GRMN) last posted its earnings results on Wednesday, February 21st. The scientific and technical instruments company reported $0.79 EPS for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.04. The company had revenue of $888.49 million for the quarter, compared to the consensus estimate of $872.73 million. Garmin had a return on equity of 15.16% and a net margin of 22.51%. Garmin’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.73 earnings per share. analysts expect that Garmin Ltd. will post 3.05 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 29th. Shareholders of record on Monday, June 18th will be given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 3.56%. This is an increase from Garmin’s previous quarterly dividend of $0.51. Garmin’s payout ratio is presently 55.43%.
A number of institutional investors and hedge funds have recently bought and sold shares of GRMN. Heartland Advisors Inc. purchased a new stake in shares of Garmin in the fourth quarter valued at $208,000. Garrison Financial Corp purchased a new stake in shares of Garmin in the fourth quarter valued at $211,000. LMR Partners LLP purchased a new stake in shares of Garmin in the fourth quarter valued at $283,000. Financial Advocates Investment Management purchased a new stake in shares of Garmin in the fourth quarter valued at $320,000. Finally, Tiedemann Wealth Management LLC lifted its position in shares of Garmin by 16.3% in the third quarter. Tiedemann Wealth Management LLC now owns 16,068 shares of the scientific and technical instruments company’s stock valued at $324,000 after acquiring an additional 2,253 shares in the last quarter. Institutional investors own 39.29% of the company’s stock.
A number of brokerages recently weighed in on GRMN. BidaskClub raised Garmin from a “hold” rating to a “buy” rating in a report on Thursday, February 8th. Credit Suisse Group reiterated an “underperform” rating and set a $58.00 target price (up from $48.00) on shares of Garmin in a research report on Tuesday, December 12th. Robert W. Baird reiterated a “neutral” rating and set a $60.00 target price (up from $57.00) on shares of Garmin in a research report on Thursday, February 22nd. Tigress Financial reiterated a “buy” rating on shares of Garmin in a research report on Monday, March 12th. Finally, Zacks Investment Research upgraded Garmin from a “hold” rating to a “buy” rating and set a $68.00 target price on the stock in a research report on Thursday, January 4th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. Garmin currently has an average rating of “Hold” and an average target price of $57.00.
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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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