Garmin Ltd. (GRMN) EVP Sells $103,455.00 in Stock
Garmin Ltd. (NASDAQ:GRMN) EVP Patrick Desbois sold 1,881 shares of the company’s stock in a transaction dated Friday, October 13th. The shares were sold at an average price of $55.00, for a total transaction of $103,455.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Shares of Garmin Ltd. (NASDAQ:GRMN) traded up 0.09% during midday trading on Tuesday, hitting $55.20. 590,444 shares of the stock were exchanged. Garmin Ltd. has a 52-week low of $46.80 and a 52-week high of $55.74. The firm’s 50 day moving average price is $53.01 and its 200-day moving average price is $51.72. The stock has a market cap of $10.36 billion, a P/E ratio of 15.51 and a beta of 0.86.
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 the Zacks’ consensus estimate of $0.81 by $0.07. Garmin had a return on equity of 15.55% and a net margin of 22.07%. The firm had revenue of $816.89 million for the quarter, compared to analysts’ expectations of $806.67 million. During the same period in the previous year, the firm earned $0.87 EPS. The business’s quarterly revenue was up .7% on a year-over-year basis. On average, equities research analysts expect that Garmin Ltd. will post $2.80 earnings per share for the current fiscal year.
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Several hedge funds have recently bought and sold shares of GRMN. State of Wisconsin Investment Board lifted its holdings in Garmin by 46.0% in the 2nd quarter. State of Wisconsin Investment Board now owns 120,741 shares of the scientific and technical instruments company’s stock worth $6,161,000 after purchasing an additional 38,020 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in Garmin by 3.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 722,581 shares of the scientific and technical instruments company’s stock worth $36,874,000 after purchasing an additional 24,777 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in Garmin by 8.8% in the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 256,239 shares of the scientific and technical instruments company’s stock worth $13,076,000 after purchasing an additional 20,690 shares in the last quarter. Cutler Group LP purchased a new position in Garmin in the 2nd quarter worth approximately $188,000. Finally, MARSHALL WACE ASIA Ltd purchased a new position in Garmin in the 1st quarter worth approximately $1,002,000. 39.59% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have commented on the stock. Longbow Research raised shares of Garmin from a “neutral” rating to a “buy” rating and set a $60.00 price objective on the stock in a report on Wednesday, July 19th. They noted that the move was a valuation call. BidaskClub downgraded shares of Garmin from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Zacks Investment Research downgraded shares of Garmin from a “buy” rating to a “hold” rating in a report on Tuesday. Tigress Financial reaffirmed a “buy” rating on shares of Garmin in a report on Monday, July 10th. Finally, Oppenheimer Holdings, Inc. reaffirmed a “market perform” rating on shares of Garmin in a report on Tuesday, August 8th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $52.80.
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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