Garmin Ltd. (GRMN) VP Andrew R. Etkind Sells 2,189 Shares
Garmin Ltd. (NASDAQ:GRMN) VP Andrew R. Etkind sold 2,189 shares of the stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $52.00, for a total value of $113,828.00. The sale was disclosed in a document filed with the SEC, which is available through this link.
Garmin Ltd. (NASDAQ GRMN) traded down 0.010% on Thursday, reaching $52.105. The company had a trading volume of 239,713 shares. Garmin Ltd. has a 52-week low of $46.05 and a 52-week high of $55.74. The stock’s 50-day moving average price is $51.66 and its 200 day moving average price is $51.43. The firm has a market capitalization of $9.78 billion, a price-to-earnings ratio of 14.640 and a beta of 0.85.
Garmin (NASDAQ:GRMN) last posted its quarterly earnings data on Wednesday, August 2nd. The scientific and technical instruments company reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.07. The company had revenue of $816.89 million during the quarter, compared to analysts’ expectations of $806.67 million. Garmin had a net margin of 22.07% and a return on equity of 15.55%. The firm’s revenue for the quarter was up .7% on a year-over-year basis. During the same period in the prior year, the company posted $0.87 EPS. On average, equities analysts anticipate that Garmin Ltd. will post $2.80 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be given a $0.51 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $2.04 dividend on an annualized basis and a yield of 3.91%. Garmin’s payout ratio is currently 57.46%.
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A number of brokerages have commented on GRMN. Oppenheimer Holdings, Inc. reissued a “market perform” rating on shares of Garmin in a report on Tuesday, August 8th. BidaskClub cut Garmin from a “sell” rating to a “strong sell” rating in a report on Friday, August 4th. Longbow Research reaffirmed a “buy” rating on shares of Garmin in a report on Thursday, August 3rd. Morgan Stanley set a $50.00 price target on Garmin and gave the company a “hold” rating in a report on Monday, July 31st. Finally, Tigress Financial reaffirmed a “buy” rating on shares of Garmin in a report on Monday, July 10th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $53.50.
A number of large investors have recently bought and sold shares of GRMN. BlackRock Inc. lifted its position in shares of Garmin by 3.7% during the second quarter. BlackRock Inc. now owns 11,293,625 shares of the scientific and technical instruments company’s stock worth $576,315,000 after purchasing an additional 404,430 shares during the last quarter. Vanguard Group Inc. raised its stake in Garmin by 0.6% during the second quarter. Vanguard Group Inc. now owns 10,473,447 shares of the scientific and technical instruments company’s stock worth $534,459,000 after acquiring an additional 59,138 shares during the period. State Street Corp raised its stake in Garmin by 4.2% during the first quarter. State Street Corp now owns 6,279,175 shares of the scientific and technical instruments company’s stock worth $320,928,000 after acquiring an additional 254,455 shares during the period. Bank of New York Mellon Corp raised its stake in Garmin by 117.9% during the second quarter. Bank of New York Mellon Corp now owns 2,228,687 shares of the scientific and technical instruments company’s stock worth $113,730,000 after acquiring an additional 1,205,778 shares during the period. Finally, Disciplined Growth Investors Inc. MN raised its stake in Garmin by 0.5% during the second quarter. Disciplined Growth Investors Inc. MN now owns 1,634,576 shares of the scientific and technical instruments company’s stock worth $83,412,000 after acquiring an additional 8,210 shares during the period. 39.79% of the stock is owned by institutional investors.
Garmin Company Profile
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.
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