Susan Lyman Sells 2,829 Shares of Garmin Ltd. (NYSE:GRMN) 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 stock was sold at an average price of $215.51, for a total transaction of $609,677.79. Following the transaction, the vice president now owns 8,432 shares of the company’s stock, valued at approximately $1,817,180.32. This represents a 25.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Garmin Trading Up 1.2 %

Shares of NYSE GRMN opened at $215.78 on Thursday. Garmin Ltd. has a 12-month low of $138.86 and a 12-month high of $246.50. The firm’s 50-day moving average price is $216.76 and its 200-day moving average price is $200.26. The stock has a market capitalization of $41.52 billion, a price-to-earnings ratio of 29.52, a P/E/G ratio of 1.36 and a beta of 0.96.

Garmin (NYSE:GRMN) last issued its quarterly earnings data on Wednesday, February 19th. The scientific and technical instruments company reported $2.41 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.51. The company had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.70 billion. Garmin had a return on equity of 19.31% and a net margin of 22.42%. The firm’s revenue for the quarter was up 22.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.72 earnings per share. On average, equities analysts predict that Garmin Ltd. will post 7.8 EPS for the current fiscal year.

Garmin Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be given a $0.90 dividend. The ex-dividend date is Friday, March 13th. This represents a $3.60 dividend on an annualized basis and a yield of 1.67%. Garmin’s dividend payout ratio is presently 41.04%.

Analysts Set New Price Targets

Several analysts have commented on GRMN shares. Barclays boosted their price target on shares of Garmin from $158.00 to $188.00 and gave the stock an “underweight” rating in a research note on Thursday, February 20th. Morgan Stanley raised Garmin to a “sell” rating and increased their price target for the company from $164.00 to $171.00 in a research note on Tuesday, February 11th. JPMorgan Chase & Co. raised their price target on Garmin from $219.00 to $260.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. Finally, Tigress Financial upped their price objective on Garmin from $265.00 to $285.00 and gave the stock a “strong-buy” rating in a report on Wednesday, February 26th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $210.80.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Golden State Wealth Management LLC bought a new stake in shares of Garmin in the 4th quarter worth about $26,000. Aster Capital Management DIFC Ltd raised its position in Garmin by 864.3% in 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 purchasing an additional 121 shares during the period. Pinnacle Bancorp Inc. bought a new stake in Garmin in the fourth quarter worth about $29,000. Larson Financial Group LLC lifted its stake in Garmin by 578.6% in the third quarter. Larson Financial Group LLC now owns 190 shares of the scientific and technical instruments company’s stock worth $33,000 after purchasing an additional 162 shares during the last quarter. Finally, SOA Wealth Advisors LLC. purchased a new position in shares of Garmin during the fourth quarter valued at approximately $37,000. 81.60% of the stock is owned by hedge funds and other institutional investors.

About Garmin

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.