Garmin Ltd. (GRMN) Major Shareholder Jonathan Burrell Sells 253,000 Shares

Garmin Ltd. (NASDAQ:GRMN) major shareholder Jonathan Burrell sold 253,000 shares of the stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $60.61, for a total transaction of $15,334,330.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Jonathan Burrell also recently made the following trade(s):

  • On Monday, November 13th, Jonathan Burrell sold 127,000 shares of Garmin stock. The shares were sold at an average price of $60.37, for a total transaction of $7,666,990.00.
  • On Wednesday, November 8th, Jonathan Burrell sold 253,000 shares of Garmin stock. The shares were sold at an average price of $59.29, for a total transaction of $15,000,370.00.
  • On Monday, November 6th, Jonathan Burrell sold 127,000 shares of Garmin stock. The shares were sold at an average price of $59.33, for a total transaction of $7,534,910.00.
  • On Tuesday, September 12th, Jonathan Burrell sold 127,000 shares of Garmin stock. The shares were sold at an average price of $52.14, for a total transaction of $6,621,780.00.
  • On Wednesday, September 13th, Jonathan Burrell sold 253,000 shares of Garmin stock. The shares were sold at an average price of $52.13, for a total transaction of $13,188,890.00.
  • On Monday, September 11th, Jonathan Burrell sold 127,000 shares of Garmin stock. The shares were sold at an average price of $52.25, for a total transaction of $6,635,750.00.
  • On Tuesday, August 22nd, Jonathan Burrell sold 231,500 shares of Garmin stock. The shares were sold at an average price of $51.20, for a total transaction of $11,852,800.00.

Garmin Ltd. (NASDAQ GRMN) traded up $0.46 during trading hours on Friday, reaching $60.75. 859,100 shares of the company traded hands, compared to its average volume of 1,119,695. The firm has a market capitalization of $12,190.00, a price-to-earnings ratio of 20.93, a PEG ratio of 2.49 and a beta of 0.80. Garmin Ltd. has a 52-week low of $47.03 and a 52-week high of $61.28.

Garmin (NASDAQ:GRMN) last posted its quarterly earnings data on Wednesday, November 1st. The scientific and technical instruments company reported $0.75 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.09. The company had revenue of $743.00 million during the quarter, compared to analyst estimates of $722.00 million. Garmin had a net margin of 22.65% and a return on equity of 15.23%. The company’s revenue was up 2.9% on a year-over-year basis. During the same quarter last year, the business posted $0.75 earnings per share. research analysts forecast that Garmin Ltd. will post 2.9 earnings per share for the current year.

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GRMN has been the subject of several research reports. Zacks Investment Research cut shares of Garmin from a “buy” rating to a “hold” rating in a research note on Tuesday, October 17th. BidaskClub raised shares of Garmin from a “strong sell” rating to a “sell” rating in a research report on Tuesday, August 22nd. KeyCorp reissued a “hold” rating on shares of Garmin in a research report on Wednesday, November 1st. Morgan Stanley set a $50.00 price target on shares of Garmin and gave the stock a “hold” rating in a research report on Monday, July 31st. Finally, Longbow Research reissued a “buy” rating on shares of Garmin in a research report on Thursday, August 3rd. Three research analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. Garmin has a consensus rating of “Hold” and a consensus price target of $56.33.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. increased its holdings in shares of Garmin by 3.7% during the second quarter. BlackRock Inc. now owns 11,293,625 shares of the scientific and technical instruments company’s stock worth $576,315,000 after buying an additional 404,430 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Garmin by 0.6% during the second quarter. Vanguard Group Inc. now owns 10,473,447 shares of the scientific and technical instruments company’s stock worth $534,459,000 after buying an additional 59,138 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Garmin by 117.9% during the second quarter. Bank of New York Mellon Corp now owns 2,228,687 shares of the scientific and technical instruments company’s stock worth $113,730,000 after buying an additional 1,205,778 shares in the last quarter. Disciplined Growth Investors Inc. MN increased its holdings in shares of Garmin by 0.5% during the second quarter. Disciplined Growth Investors Inc. MN now owns 1,634,576 shares of the scientific and technical instruments company’s stock worth $83,412,000 after buying an additional 8,210 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its holdings in shares of Garmin by 8.2% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,619,167 shares of the scientific and technical instruments company’s stock worth $87,385,000 after buying an additional 123,324 shares in the last quarter. 38.01% of the stock is owned by institutional investors.

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.

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

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