Patrick Desbois Sells 1,749 Shares of Garmin Ltd. (GRMN) Stock

Garmin Ltd. (NASDAQ:GRMN) EVP Patrick Desbois sold 1,749 shares of Garmin stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $86.00, for a total value of $150,414.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Shares of GRMN stock traded up $0.34 on Friday, hitting $86.53. The stock had a trading volume of 1,682,553 shares, compared to its average volume of 1,068,621. Garmin Ltd. has a 1 year low of $57.01 and a 1 year high of $89.72. The company has a market capitalization of $17.14 billion, a PE ratio of 23.45, a P/E/G ratio of 3.17 and a beta of 0.92.

Garmin (NASDAQ:GRMN) last released its earnings results on Wednesday, February 20th. The scientific and technical instruments company reported $1.02 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.22. Garmin had a return on equity of 17.67% and a net margin of 20.74%. The firm had revenue of $932.11 million during the quarter, compared to analysts’ expectations of $893.14 million. During the same period in the previous year, the firm posted $0.79 EPS. Garmin’s revenue for the quarter was up 3.9% on a year-over-year basis. Sell-side analysts expect that Garmin Ltd. will post 3.71 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a dividend of $0.53 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $2.12 annualized dividend and a dividend yield of 2.45%. Garmin’s dividend payout ratio is currently 57.45%.

Several equities research analysts recently issued reports on GRMN shares. Morgan Stanley cut their price objective on Garmin from $77.00 to $70.00 and set an “equal weight” rating on the stock in a report on Monday, January 7th. BidaskClub upgraded Garmin from a “buy” rating to a “strong-buy” rating in a report on Wednesday, February 13th. ValuEngine downgraded Garmin from a “buy” rating to a “hold” rating in a report on Tuesday, February 19th. Longbow Research set a $75.00 price objective on Garmin and gave the company a “buy” rating in a report on Tuesday, February 19th. Finally, Credit Suisse Group boosted their price objective on Garmin from $58.00 to $71.00 and gave the company an “underperform” rating in a report on Monday, February 25th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $77.19.

Large investors have recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC boosted its position in shares of Garmin by 11.0% in the 3rd quarter. Commonwealth Equity Services LLC now owns 22,492 shares of the scientific and technical instruments company’s stock valued at $1,575,000 after purchasing an additional 2,233 shares during the period. Prudential Financial Inc. boosted its position in shares of Garmin by 3.6% in the 3rd quarter. Prudential Financial Inc. now owns 121,152 shares of the scientific and technical instruments company’s stock valued at $8,487,000 after purchasing an additional 4,200 shares during the period. MML Investors Services LLC acquired a new stake in shares of Garmin in the 3rd quarter valued at about $291,000. AXA boosted its position in shares of Garmin by 95.9% in the 3rd quarter. AXA now owns 72,720 shares of the scientific and technical instruments company’s stock valued at $5,094,000 after purchasing an additional 35,600 shares during the period. Finally, PNC Financial Services Group Inc. boosted its position in shares of Garmin by 9.6% in the 3rd quarter. PNC Financial Services Group Inc. now owns 10,647 shares of the scientific and technical instruments company’s stock valued at $744,000 after purchasing an additional 933 shares during the period. 43.02% of the stock is owned by institutional investors and hedge funds.

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Garmin Company Profile

Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of navigation, communication, and information devices worldwide. It operates through five segments: Auto, Aviation, Marine, Outdoor, and Fitness. The Auto segment offers personal navigation devices; infotainment systems; and action cameras, as well as mobile applications under the Garmin and NAVIGON names.

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

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