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

Garmin Ltd. (NYSE:GRMN) CEO Clifton A. Pemble sold 7,202 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The shares were 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 $33,963,108.50. This trade represents a 4.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Garmin Stock Up 2.2 %

Shares of NYSE:GRMN opened at $228.88 on Friday. The company has a market capitalization of $44.04 billion, a price-to-earnings ratio of 31.31, a price-to-earnings-growth ratio of 1.36 and a beta of 0.98. Garmin Ltd. has a 52 week low of $136.25 and a 52 week high of $246.50. The firm has a 50 day moving average of $215.06 and a 200 day moving average of $197.77.

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

Garmin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date is Friday, March 13th. Garmin’s dividend payout ratio (DPR) is 41.04%.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Garmin

Large investors have recently bought and sold shares of the business. Golden State Wealth Management LLC bought a new position in Garmin in the fourth quarter worth approximately $26,000. Aster Capital Management DIFC Ltd increased its position in shares of Garmin by 864.3% during the fourth 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 in the last quarter. Pinnacle Bancorp Inc. acquired a new position in shares of Garmin during the fourth quarter worth $29,000. SOA Wealth Advisors LLC. acquired a new position in shares of Garmin during the fourth quarter worth $37,000. Finally, Larson Financial Group LLC increased its position in shares of Garmin by 578.6% during 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 in the last quarter. Institutional investors own 81.60% of the company’s stock.

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.