Garmin Ltd. (NYSE:GRMN) CEO Clifton A. Pemble Sells 7,202 Shares of Stock

Garmin Ltd. (NYSE:GRMN) CEO Clifton A. Pemble sold 7,202 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $227.14, for a total value of $1,635,862.28. Following the transaction, the chief executive officer now owns 149,525 shares of the company’s stock, valued at approximately $33,963,108.50. This represents a 4.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Garmin Trading Down 1.3 %

Shares of NYSE GRMN opened at $223.98 on Friday. The stock has a market cap of $43.09 billion, a P/E ratio of 30.64, a PEG ratio of 1.36 and a beta of 0.98. The business’s fifty day simple moving average is $214.66 and its 200-day simple moving average is $197.16. Garmin Ltd. has a 12-month low of $134.11 and a 12-month high of $246.50.

Garmin (NYSE:GRMN) last posted its quarterly 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. 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 quarter last year, the company earned $1.72 EPS. Garmin’s revenue for the quarter was up 22.9% compared to the same quarter last year. On average, equities analysts forecast that Garmin Ltd. will post 7.8 EPS for the current fiscal year.

Garmin Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Shareholders 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 yield of 1.61%. The ex-dividend date of this dividend is Friday, March 13th. Garmin’s dividend payout ratio (DPR) is presently 41.04%.

Wall Street Analysts Forecast Growth

GRMN has been the topic of a number of research analyst reports. Morgan Stanley raised Garmin to a “sell” rating and boosted their target price for the company from $164.00 to $171.00 in a research report on Tuesday, February 11th. Tigress Financial boosted their price objective on Garmin from $265.00 to $285.00 and gave the company a “strong-buy” rating in a report on Wednesday. JPMorgan Chase & Co. increased their target price on Garmin from $219.00 to $260.00 and gave the stock a “neutral” rating in a research note on Thursday, February 20th. Finally, Barclays lifted their target price on Garmin from $158.00 to $188.00 and gave the company an “underweight” rating in a research report on Thursday, February 20th. Three research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $210.80.

Institutional Investors Weigh In On Garmin

A number of hedge funds and other institutional investors have recently modified their holdings of GRMN. Golden State Wealth Management LLC acquired a new position in shares of Garmin during the fourth quarter worth $26,000. Aster Capital Management DIFC Ltd lifted its holdings in 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 buying an additional 121 shares during the last quarter. Pinnacle Bancorp Inc. acquired a new position in shares of Garmin during the 4th quarter worth about $29,000. Larson Financial Group LLC increased its holdings in shares of Garmin by 578.6% in the 3rd 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 during the last quarter. Finally, SOA Wealth Advisors LLC. acquired a new stake in shares of Garmin during the 4th quarter worth about $37,000. 81.60% of the stock is currently owned by institutional investors and hedge funds.

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.