Garmin Ltd. (NASDAQ:GRMN) major shareholder Jonathan Burrell sold 232,000 shares of the company’s stock in a transaction on Friday, August 11th. The shares were sold at an average price of $51.36, for a total transaction of $11,915,520.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Jonathan Burrell also recently made the following trade(s):

  • On Tuesday, May 30th, Jonathan Burrell sold 100,000 shares of Garmin stock. The shares were sold at an average price of $52.23, for a total transaction of $5,223,000.00.
  • On Wednesday, May 31st, Jonathan Burrell sold 200,000 shares of Garmin stock. The shares were sold at an average price of $52.11, for a total transaction of $10,422,000.00.
  • On Friday, May 26th, Jonathan Burrell sold 100,000 shares of Garmin stock. The shares were sold at an average price of $52.46, for a total transaction of $5,246,000.00.

Garmin Ltd. (NASDAQ GRMN) traded up 1.25% during midday trading on Monday, hitting $51.85. 226,840 shares of the company were exchanged. The stock has a 50 day moving average of $51.24 and a 200 day moving average of $51.14. Garmin Ltd. has a 1-year low of $46.05 and a 1-year high of $55.74. The firm has a market capitalization of $9.73 billion, a PE ratio of 14.57 and a beta of 0.86.

Garmin (NASDAQ:GRMN) last released its quarterly earnings data on Wednesday, August 2nd. The scientific and technical instruments company reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.07. Garmin had a net margin of 20.93% and a return on equity of 19.08%. The firm had revenue of $816.89 million during the quarter, compared to analysts’ expectations of $806.67 million. During the same period in the previous year, the company earned $0.87 earnings per share. The firm’s quarterly revenue was up .7% on a year-over-year basis. On average, equities analysts predict that Garmin Ltd. will post $2.80 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be issued a dividend of $0.51 per share. The ex-dividend date is Thursday, September 14th. This represents a $2.04 annualized dividend and a dividend yield of 3.98%. Garmin’s payout ratio is 57.46%.

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Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. UBS Asset Management Americas Inc. boosted its position in Garmin by 9.5% in the fourth quarter. UBS Asset Management Americas Inc. now owns 410,456 shares of the scientific and technical instruments company’s stock valued at $19,903,000 after buying an additional 35,489 shares during the last quarter. Teachers Advisors LLC boosted its position in Garmin by 4.8% in the fourth quarter. Teachers Advisors LLC now owns 143,304 shares of the scientific and technical instruments company’s stock valued at $6,949,000 after buying an additional 6,599 shares during the last quarter. Macquarie Group Ltd. boosted its position in Garmin by 61.7% in the fourth quarter. Macquarie Group Ltd. now owns 7,600 shares of the scientific and technical instruments company’s stock valued at $369,000 after buying an additional 2,900 shares during the last quarter. Chevy Chase Trust Holdings Inc. boosted its position in Garmin by 3.2% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 99,158 shares of the scientific and technical instruments company’s stock valued at $5,068,000 after buying an additional 3,104 shares during the last quarter. Finally, Creative Planning boosted its position in Garmin by 26.3% in the first quarter. Creative Planning now owns 13,341 shares of the scientific and technical instruments company’s stock valued at $682,000 after buying an additional 2,782 shares during the last quarter. 42.88% of the stock is owned by hedge funds and other institutional investors.

A number of analysts have commented on GRMN shares. Zacks Investment Research raised shares of Garmin from a “hold” rating to a “buy” rating and set a $57.00 price target on the stock in a research report on Thursday, May 4th. Bank of America Corporation upped their price target on shares of Garmin from $47.00 to $50.00 and gave the company an “underperform” rating in a research report on Thursday, May 4th. J P Morgan Chase & Co cut shares of Garmin from a “neutral” rating to an “underweight” rating and cut their price objective for the stock from $55.00 to $50.00 in a research report on Thursday, May 4th. Goldman Sachs Group, Inc. (The) increased their price objective on shares of Garmin from $52.00 to $54.00 and gave the stock a “neutral” rating in a research report on Thursday, May 4th. Finally, Tigress Financial began coverage on shares of Garmin in a research report on Tuesday, May 2nd. They set a “buy” rating on the stock. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. Garmin currently has an average rating of “Hold” and an average target price of $51.21.

About Garmin

Garmin Ltd. (Garmin) and subsidiaries offer global positioning system (GPS) navigation and wireless devices and applications. The Company operates through five segments. It offers a range of auto navigation products, as well as a range of products and applications designed for the mobile GPS market. It offers products to consumers around the world, including Outdoor Handhelds, Wearable Devices, Golf Devices, and Dog Tracking and Training/Pet Obedience Devices.

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

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