Garmin Ltd. (NASDAQ:GRMN) insider Sean Biddlecombe sold 1,697 shares of the stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $51.83, for a total transaction of $87,955.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of Garmin Ltd. (GRMN) opened at 51.20 on Friday. The stock’s 50 day moving average price is $51.30 and its 200 day moving average price is $51.21. Garmin Ltd. has a 52-week low of $46.05 and a 52-week high of $55.74. The company has a market capitalization of $9.61 billion, a P/E ratio of 14.39 and a beta of 0.86.
Garmin (NASDAQ:GRMN) last released its quarterly earnings results on Wednesday, August 2nd. The scientific and technical instruments company reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.07. The business had revenue of $816.89 million during the quarter, compared to analysts’ expectations of $806.67 million. Garmin had a return on equity of 15.55% and a net margin of 22.07%. The company’s revenue was up .7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.87 EPS. On average, equities research analysts forecast that Garmin Ltd. will post $2.80 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.98%. The ex-dividend date is Thursday, September 14th. Garmin’s dividend payout ratio is presently 57.46%.
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Several institutional investors have recently added to or reduced their stakes in the company. US Bancorp DE boosted its position in Garmin by 8.8% in the second quarter. US Bancorp DE now owns 2,215 shares of the scientific and technical instruments company’s stock worth $113,000 after buying an additional 180 shares in the last quarter. James Investment Research Inc. purchased a new position in Garmin during the first quarter valued at about $144,000. Mn Services Vermogensbeheer B.V. raised its position in Garmin by 11.4% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 3,162 shares of the scientific and technical instruments company’s stock valued at $151,000 after buying an additional 323 shares during the last quarter. Ameritas Investment Partners Inc. purchased a new position in Garmin during the first quarter valued at about $156,000. Finally, Botty Investors LLC purchased a new position in Garmin during the first quarter valued at about $172,000. Institutional investors and hedge funds own 42.88% of the company’s stock.
Several equities analysts have recently weighed in on the stock. Zacks Investment Research cut shares of Garmin from a “buy” rating to a “hold” rating in a research note on Monday, May 8th. BidaskClub cut shares of Garmin from a “sell” rating to a “strong sell” rating in a research note on Friday, August 4th. Tigress Financial assumed coverage on shares of Garmin in a research note on Tuesday, May 2nd. They set a “buy” rating on the stock. Longbow Research restated a “buy” rating on shares of Garmin in a research note on Thursday, August 3rd. Finally, Oppenheimer Holdings, Inc. restated a “market perform” rating on shares of Garmin in a research note on Tuesday, August 8th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. Garmin has a consensus rating of “Hold” and a consensus target price of $51.21.
Garmin Company Profile
Garmin Ltd. (Garmin) and subsidiaries offer global positioning system (GPS) navigation and wireless devices and applications. The Company operates through five segments. It offers a range of auto navigation products, as well as a range of products and applications designed for the mobile GPS market. It offers products to consumers around the world, including Outdoor Handhelds, Wearable Devices, Golf Devices, and Dog Tracking and Training/Pet Obedience Devices.
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