Clifton A. Pemble Sells 1,622 Shares of Garmin Ltd. (NYSE:GRMN) Stock

Garmin Ltd. (NYSE:GRMNGet Free Report) CEO Clifton A. Pemble sold 1,622 shares of the firm’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $134.19, for a total value of $217,656.18. Following the completion of the transaction, the chief executive officer now owns 159,319 shares in the company, valued at approximately $21,379,016.61. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Garmin Trading Up 2.0 %

Shares of NYSE:GRMN opened at $137.39 on Thursday. The business has a 50-day moving average price of $125.49 and a 200 day moving average price of $116.00. The company has a market capitalization of $26.35 billion, a price-to-earnings ratio of 20.48, a PEG ratio of 4.44 and a beta of 0.97. Garmin Ltd. has a 12-month low of $93.52 and a 12-month high of $139.49.

Garmin (NYSE:GRMNGet Free Report) last released its earnings results on Wednesday, February 21st. The scientific and technical instruments company reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.32. The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.41 billion. Garmin had a return on equity of 16.60% and a net margin of 24.67%. Garmin’s revenue was up 13.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.35 EPS. As a group, equities research analysts predict that Garmin Ltd. will post 5.44 earnings per share for the current fiscal year.

Garmin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date is Friday, December 13th. Garmin’s dividend payout ratio is presently 43.52%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in GRMN. Vanguard Group Inc. raised its holdings in shares of Garmin by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 17,276,118 shares of the scientific and technical instruments company’s stock valued at $2,049,121,000 after purchasing an additional 365,713 shares in the last quarter. BlackRock Inc. raised its stake in Garmin by 3.5% in the second quarter. BlackRock Inc. now owns 15,562,275 shares of the scientific and technical instruments company’s stock valued at $1,622,990,000 after buying an additional 527,327 shares in the last quarter. Artisan Partners Limited Partnership lifted its holdings in Garmin by 0.9% during the 4th quarter. Artisan Partners Limited Partnership now owns 7,310,112 shares of the scientific and technical instruments company’s stock worth $939,642,000 after buying an additional 63,278 shares during the last quarter. State Street Corp boosted its position in shares of Garmin by 5.5% during the 3rd quarter. State Street Corp now owns 6,798,228 shares of the scientific and technical instruments company’s stock worth $545,971,000 after acquiring an additional 355,087 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Garmin by 2.2% during the 2nd quarter. Geode Capital Management LLC now owns 3,508,214 shares of the scientific and technical instruments company’s stock worth $364,987,000 after acquiring an additional 74,703 shares in the last quarter. Institutional investors and hedge funds own 63.26% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Tigress Financial restated a “strong-buy” rating and issued a $175.00 price objective (up previously from $165.00) on shares of Garmin in a report on Tuesday. Barclays lifted their price target on Garmin from $113.00 to $119.00 and gave the stock an “equal weight” rating in a report on Thursday, November 2nd. StockNews.com lowered Garmin from a “buy” rating to a “hold” rating in a report on Wednesday. Morgan Stanley reduced their price target on Garmin from $103.00 to $100.00 and set an “equal weight” rating on the stock in a report on Thursday, November 2nd. Finally, Barrington Research lifted their price target on Garmin from $119.00 to $140.00 and gave the stock an “equal weight” rating in a report on Thursday, February 22nd. Seven equities research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $131.50.

Read Our Latest Research Report on GRMN

About Garmin

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Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of wireless devices worldwide. It operates through five segments: Fitness, Outdoor, Aviation, Marine, and Auto. Its Fitness segment offers running and multi-sport watches; cycling products; smartwatch devices; and fitness accessories.

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Insider Buying and Selling by Quarter for Garmin (NYSE:GRMN)

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