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

Garmin Ltd. (NYSE:GRMN) VP Susan Lyman sold 2,829 shares of Garmin 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 sale, the vice president now directly owns 8,432 shares in the company, valued at $1,817,180.32. The trade was a 25.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Garmin Stock Performance

Shares of Garmin stock traded down $1.84 during midday trading on Tuesday, reaching $213.48. 952,763 shares of the company’s stock traded hands, compared to its average volume of 869,993. The company has a market cap of $41.07 billion, a price-to-earnings ratio of 29.20, a price-to-earnings-growth ratio of 1.36 and a beta of 0.96. Garmin Ltd. has a 52 week low of $138.86 and a 52 week high of $246.50. The company’s 50 day simple moving average is $216.43 and its 200 day simple moving average is $199.91.

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, beating the consensus estimate of $1.90 by $0.51. Garmin had a return on equity of 19.31% and a net margin of 22.42%. The company had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.70 billion. During the same period last year, the company earned $1.72 earnings per share. The business’s revenue was up 22.9% compared to the same quarter last year. As a group, equities research analysts predict that Garmin Ltd. will post 7.8 earnings per share for the current year.

Garmin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Shareholders 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 1.69%. The ex-dividend date of this dividend is Friday, March 13th. Garmin’s dividend payout ratio is 41.04%.

Institutional Investors Weigh In On Garmin

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in Garmin by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 18,067,708 shares of the scientific and technical instruments company’s stock worth $3,726,645,000 after purchasing an additional 215,344 shares during the period. State Street Corp boosted its position in Garmin by 2.0% in the 3rd quarter. State Street Corp now owns 6,912,536 shares of the scientific and technical instruments company’s stock valued at $1,216,819,000 after buying an additional 134,303 shares during the last quarter. Geode Capital Management LLC increased its position in Garmin by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 4,438,796 shares of the scientific and technical instruments company’s stock worth $913,544,000 after purchasing an additional 75,332 shares during the period. FMR LLC raised its stake in shares of Garmin by 40.8% during the third quarter. FMR LLC now owns 3,775,154 shares of the scientific and technical instruments company’s stock worth $664,540,000 after buying an additional 1,093,219 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Garmin in the 4th quarter valued at $396,184,000. 81.60% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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 stock a “neutral” rating in a research report on Thursday, February 20th. Morgan Stanley raised Garmin to a “sell” rating and lifted their target price for the stock from $164.00 to $171.00 in a report on Tuesday, February 11th. Barclays upped their price target on shares of Garmin from $158.00 to $188.00 and gave the company an “underweight” rating in a 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, February 26th. Three investment 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 MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $210.80.

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.