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.
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.
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.
Further Reading: Asset Allocation, Balancing Your Investments
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