Insider Selling: Garmin Ltd. (NYSE:GRMN) Director Sells 587 Shares of Stock

Garmin Ltd. (NYSE:GRMN) Director Sean Biddlecombe sold 587 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $210.10, for a total value of $123,328.70. Following the sale, the director now owns 6,147 shares of the company’s stock, valued at approximately $1,291,484.70. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Garmin Trading Up 0.3 %

GRMN traded up $0.67 on Thursday, hitting $210.34. 848,023 shares of the company were exchanged, compared to its average volume of 857,718. Garmin Ltd. has a twelve month low of $114.76 and a twelve month high of $212.27. The company has a market cap of $40.39 billion, a price-to-earnings ratio of 26.61, a price-to-earnings-growth ratio of 3.22 and a beta of 0.97. The firm has a 50-day moving average price of $175.69 and a two-hundred day moving average price of $169.15.

Garmin (NYSE:GRMN) last posted its earnings results on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.53. Garmin had a return on equity of 17.99% and a net margin of 25.48%. The business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same period in the previous year, the business earned $1.41 EPS. The business’s quarterly revenue was up 24.1% on a year-over-year basis. Equities analysts expect that Garmin Ltd. will post 6.52 EPS for the current year.

Institutional Trading of Garmin

A number of hedge funds have recently added to or reduced their stakes in the stock. Sumitomo Life Insurance Co. lifted its holdings in shares of Garmin by 0.9% in the 3rd quarter. Sumitomo Life Insurance Co. now owns 6,686 shares of the scientific and technical instruments company’s stock valued at $1,177,000 after buying an additional 61 shares during the period. Elo Mutual Pension Insurance Co lifted its holdings in shares of Garmin by 0.5% in the 2nd quarter. Elo Mutual Pension Insurance Co now owns 14,056 shares of the scientific and technical instruments company’s stock valued at $2,290,000 after buying an additional 70 shares during the period. Dorsey & Whitney Trust CO LLC lifted its holdings in shares of Garmin by 3.3% in the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 2,309 shares of the scientific and technical instruments company’s stock valued at $344,000 after buying an additional 73 shares during the period. UMB Bank n.a. lifted its holdings in shares of Garmin by 2.6% in the 2nd quarter. UMB Bank n.a. now owns 2,879 shares of the scientific and technical instruments company’s stock valued at $469,000 after buying an additional 74 shares during the period. Finally, Buckingham Capital Management Inc. lifted its holdings in shares of Garmin by 0.7% in the 3rd quarter. Buckingham Capital Management Inc. now owns 11,715 shares of the scientific and technical instruments company’s stock valued at $2,062,000 after buying an additional 80 shares during the period. 73.41% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

GRMN has been the topic of a number of research analyst reports. Morgan Stanley cut Garmin from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $155.00 to $138.00 in a report on Monday, October 7th. StockNews.com cut Garmin from a “buy” rating to a “hold” rating in a report on Thursday, September 12th. Tigress Financial increased their price target on Garmin from $210.00 to $215.00 and gave the company a “strong-buy” rating in a report on Thursday, September 19th. Finally, Barclays upped their price objective on Garmin from $133.00 to $158.00 and gave the company an “underweight” rating in a research report on Friday, November 1st. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Garmin presently has an average rating of “Hold” and an average target price of $162.67.

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.