Garmin Ltd. (NYSE:GRMN) CEO Clifton A. Pemble Sells 9,550 Shares

Garmin Ltd. (NYSE:GRMNGet Rating) CEO Clifton A. Pemble sold 9,550 shares of the company’s stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $90.00, for a total transaction of $859,500.00. Following the completion of the transaction, the chief executive officer now owns 135,950 shares of the company’s stock, valued at approximately $12,235,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Garmin Trading Up 1.0 %

NYSE GRMN opened at $90.84 on Friday. The firm’s fifty day moving average price is $97.20 and its two-hundred day moving average price is $104.09. Garmin Ltd. has a 1 year low of $86.73 and a 1 year high of $174.89. The firm has a market capitalization of $17.52 billion, a P/E ratio of 17.34, a price-to-earnings-growth ratio of 3.31 and a beta of 0.97.

Garmin (NYSE:GRMNGet Rating) last posted its quarterly earnings results on Wednesday, July 27th. The scientific and technical instruments company reported $1.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.02. Garmin had a net margin of 20.31% and a return on equity of 17.71%. The firm had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.37 billion. During the same period in the prior year, the firm posted $1.68 earnings per share. The company’s quarterly revenue was down 6.5% compared to the same quarter last year. On average, research analysts anticipate that Garmin Ltd. will post 4.9 EPS for the current fiscal year.

Garmin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Shareholders of record on Wednesday, March 15th will be given a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a yield of 3.21%. The ex-dividend date is Tuesday, March 14th. Garmin’s dividend payout ratio (DPR) is currently 55.73%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on GRMN. Morgan Stanley reduced their price target on shares of Garmin from $127.00 to $115.00 and set an “equal weight” rating for the company in a report on Tuesday, June 14th. Bank of America lowered shares of Garmin from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $137.00 to $109.00 in a research report on Tuesday, August 2nd. TheStreet lowered shares of Garmin from a “b” rating to a “c+” rating in a research report on Wednesday, July 27th. Finally, Tigress Financial cut their price objective on shares of Garmin from $208.00 to $165.00 and set a “strong-buy” rating on the stock in a research report on Friday, August 5th. Two analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $134.75.

Institutional Trading of Garmin

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Riverview Trust Co bought a new position in shares of Garmin in the first quarter valued at about $26,000. Clear Street Markets LLC raised its position in shares of Garmin by 403.2% in the second quarter. Clear Street Markets LLC now owns 317 shares of the scientific and technical instruments company’s stock valued at $31,000 after purchasing an additional 254 shares during the period. HWG Holdings LP bought a new position in shares of Garmin in the fourth quarter valued at about $35,000. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Garmin in the first quarter valued at about $45,000. Finally, Tradewinds Capital Management LLC raised its position in shares of Garmin by 33.3% in the first quarter. Tradewinds Capital Management LLC now owns 400 shares of the scientific and technical instruments company’s stock valued at $47,000 after purchasing an additional 100 shares during the period. 62.50% of the stock is owned by institutional investors.

Garmin Company Profile

(Get Rating)

Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of wireless devices in the Americas, the Asia Pacific, Australian Continent, Europe, the Middle East, and Africa. Its Fitness segment offers running and multi-sport watches; cycling products; activity tracking and smartwatch devices; and fitness and cycling accessories.

Recommended Stories

Receive News & Ratings for Garmin Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Garmin and related companies with MarketBeat.com's FREE daily email newsletter.