Garmin Ltd. (NYSE:GRMN) Shares Sold by Jump Financial LLC

Jump Financial LLC decreased its holdings in shares of Garmin Ltd. (NYSE:GRMNFree Report) by 3.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,632 shares of the scientific and technical instruments company’s stock after selling 468 shares during the period. Jump Financial LLC’s holdings in Garmin were worth $1,495,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Wetzel Investment Advisors Inc. acquired a new position in shares of Garmin during the 4th quarter worth $26,000. Headinvest LLC acquired a new stake in shares of Garmin in the third quarter valued at approximately $41,000. Blue Trust Inc. raised its position in shares of Garmin by 35.2% during the 4th quarter. Blue Trust Inc. now owns 380 shares of the scientific and technical instruments company’s stock worth $49,000 after purchasing an additional 99 shares during the last quarter. Turtle Creek Wealth Advisors LLC purchased a new stake in Garmin in the 4th quarter valued at approximately $51,000. Finally, EdgeRock Capital LLC acquired a new stake in Garmin during the 4th quarter valued at $53,000. 73.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on GRMN. StockNews.com downgraded shares of Garmin from a “buy” rating to a “hold” rating in a research note on Wednesday, May 8th. Barrington Research raised their price objective on Garmin from $119.00 to $140.00 and gave the stock an “equal weight” rating in a report on Thursday, February 22nd. Bank of America upped their target price on Garmin from $120.00 to $165.00 and gave the company a “neutral” rating in a research note on Wednesday, April 3rd. Barclays raised their price target on Garmin from $140.00 to $166.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 2nd. Finally, JPMorgan Chase & Co. upped their price objective on shares of Garmin from $155.00 to $175.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. Six investment analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Garmin has an average rating of “Hold” and a consensus price target of $159.33.

Check Out Our Latest Report on Garmin

Garmin Price Performance

NYSE:GRMN opened at $170.55 on Thursday. The firm has a 50-day moving average of $149.70 and a two-hundred day moving average of $132.93. The stock has a market cap of $32.76 billion, a P/E ratio of 24.06, a PEG ratio of 5.42 and a beta of 0.99. Garmin Ltd. has a 1-year low of $99.61 and a 1-year high of $171.10.

Garmin (NYSE:GRMNGet Free Report) last announced its earnings results on Wednesday, May 1st. The scientific and technical instruments company reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.42. Garmin had a return on equity of 17.26% and a net margin of 24.96%. The company had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same period in the prior year, the company posted $1.02 EPS. Garmin’s quarterly revenue was up 20.4% on a year-over-year basis. As a group, equities analysts expect that Garmin Ltd. will post 5.58 earnings per share for the current year.

Garmin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date of this dividend is Friday, December 13th. Garmin’s dividend payout ratio is presently 41.18%.

Insider Transactions at Garmin

In other Garmin news, CEO Clifton A. Pemble sold 1,622 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $134.19, for a total transaction of $217,656.18. Following the completion of the sale, the chief executive officer now owns 159,319 shares in the company, valued at $21,379,016.61. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Garmin news, CEO Clifton A. Pemble sold 1,622 shares of Garmin stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $134.19, for a total value of $217,656.18. Following the completion of the transaction, the chief executive officer now directly owns 159,319 shares in the company, valued at $21,379,016.61. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Susan Lyman sold 2,587 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $135.18, for a total value of $349,710.66. Following the sale, the vice president now owns 7,174 shares in the company, valued at $969,781.32. The disclosure for this sale can be found here. In the last quarter, insiders sold 99,476 shares of company stock worth $14,166,944. 19.54% of the stock is currently owned by corporate insiders.

Garmin Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Garmin (NYSE:GRMN)

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