Min H. Kao Sells 301,128 Shares of Garmin Ltd. (GRMN) Stock

Garmin Ltd. (NASDAQ:GRMN) insider Min H. Kao sold 301,128 shares of Garmin stock in a transaction on Wednesday, May 16th. The stock was sold at an average price of $59.25, for a total value of $17,841,834.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Shares of Garmin opened at $59.74 on Friday, Marketbeat.com reports. The firm has a market capitalization of $11.17 billion, a PE ratio of 20.32, a price-to-earnings-growth ratio of 2.27 and a beta of 0.98. Garmin Ltd. has a 12 month low of $59.05 and a 12 month high of $59.68.

Garmin (NASDAQ:GRMN) last issued its earnings results on Wednesday, May 2nd. The scientific and technical instruments company reported $0.68 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.12. The business had revenue of $711.00 million during the quarter, compared to analysts’ expectations of $670.71 million. Garmin had a return on equity of 15.66% and a net margin of 18.57%. Garmin’s revenue was up 10.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.52 earnings per share. research analysts expect that Garmin Ltd. will post 3.13 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 29th. Stockholders of record on Monday, June 18th will be given a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 3.55%. This is a boost from Garmin’s previous quarterly dividend of $0.51. Garmin’s dividend payout ratio (DPR) is 69.39%.

A number of equities analysts recently issued reports on the company. BidaskClub upgraded Garmin from a “hold” rating to a “buy” rating in a report on Thursday, February 8th. Robert W. Baird restated a “neutral” rating and issued a $60.00 target price (up from $57.00) on shares of Garmin in a report on Thursday, February 22nd. ValuEngine cut Garmin from a “buy” rating to a “hold” rating in a report on Wednesday, March 7th. Tigress Financial restated a “buy” rating on shares of Garmin in a report on Monday, March 12th. Finally, Zacks Investment Research cut Garmin from a “buy” rating to a “hold” rating in a report on Friday, March 23rd. Eight analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $60.40.

Several institutional investors have recently modified their holdings of the company. Point72 Asia Hong Kong Ltd boosted its position in shares of Garmin by 105.4% in the first quarter. Point72 Asia Hong Kong Ltd now owns 1,736 shares of the scientific and technical instruments company’s stock worth $102,000 after buying an additional 891 shares during the period. ING Groep NV boosted its position in shares of Garmin by 10.0% in the fourth quarter. ING Groep NV now owns 10,551 shares of the scientific and technical instruments company’s stock worth $629,000 after buying an additional 961 shares during the period. Crescent Grove Advisors LLC boosted its position in shares of Garmin by 12.5% in the fourth quarter. Crescent Grove Advisors LLC now owns 9,000 shares of the scientific and technical instruments company’s stock worth $536,000 after buying an additional 1,000 shares during the period. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of Garmin by 11.4% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 11,373 shares of the scientific and technical instruments company’s stock worth $668,000 after buying an additional 1,162 shares during the period. Finally, Victory Capital Management Inc. boosted its position in shares of Garmin by 8.3% in the fourth quarter. Victory Capital Management Inc. now owns 15,359 shares of the scientific and technical instruments company’s stock worth $915,000 after buying an additional 1,175 shares during the period. 41.17% of the stock is owned by institutional investors and hedge funds.

About Garmin

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.

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

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