Garmin Ltd. (NYSE:GRMN) VP Susan Lyman Sells 2,829 Shares

Garmin Ltd. (NYSE:GRMN) VP Susan Lyman sold 2,829 shares of Garmin stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $215.51, for a total value of $609,677.79. Following the sale, the vice president now owns 8,432 shares in the company, valued at $1,817,180.32. This trade represents a 25.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Garmin Trading Down 0.9 %

Shares of Garmin stock opened at $213.48 on Wednesday. The company has a fifty day moving average price of $216.57 and a 200 day moving average price of $200.15. Garmin Ltd. has a twelve month low of $138.86 and a twelve month high of $246.50. The stock has a market cap of $41.07 billion, a price-to-earnings ratio of 29.20, a price-to-earnings-growth ratio of 1.36 and a beta of 0.96.

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

Garmin Dividend Announcement

The company also recently declared 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. The ex-dividend date is Friday, March 13th. This represents a $3.60 dividend on an annualized basis and a yield of 1.69%. Garmin’s dividend payout ratio (DPR) is 41.04%.

Hedge Funds Weigh In On Garmin

Hedge funds have recently bought and sold shares of the company. Siemens Fonds Invest GmbH lifted its holdings in Garmin by 45.7% in the fourth quarter. Siemens Fonds Invest GmbH now owns 23,640 shares of the scientific and technical instruments company’s stock worth $4,876,000 after acquiring an additional 7,414 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Garmin in the fourth quarter worth about $39,748,000. Fidelity D & D Bancorp Inc. lifted its holdings in Garmin by 13.2% in the fourth quarter. Fidelity D & D Bancorp Inc. now owns 1,857 shares of the scientific and technical instruments company’s stock worth $383,000 after acquiring an additional 217 shares during the last quarter. Azzad Asset Management Inc. ADV lifted its holdings in Garmin by 1.1% in the fourth quarter. Azzad Asset Management Inc. ADV now owns 20,954 shares of the scientific and technical instruments company’s stock worth $4,322,000 after acquiring an additional 222 shares during the last quarter. Finally, Investment Management Corp VA ADV bought a new position in Garmin in the fourth quarter worth about $46,000. 81.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Morgan Stanley raised Garmin to a “sell” rating and lifted their price objective for the company from $164.00 to $171.00 in a report on Tuesday, February 11th. Tigress Financial lifted their price objective on Garmin from $265.00 to $285.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, February 26th. JPMorgan Chase & Co. lifted their price objective on Garmin from $219.00 to $260.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. Finally, Barclays lifted their price objective on Garmin from $158.00 to $188.00 and gave the stock an “underweight” rating in a research report on Thursday, February 20th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $210.80.

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.