1 week Ago By ABMN Staff
StockNews.com downgraded shares of Garmin ( NYSE:GRMN – Free Report ) from a buy rating to a hold rating in a report issued on Friday. A number of other brokerages also recently issued reports on GRMN.
Tigress Financial boosted their price target on Garmin from $175.00 to $210.00 and gave the company a strong-buy rating in a report on Tuesday, May 14th.
Bank of America lowered Garmin from a neutral rating to an underperform rating and lowered their price target for the stock from $165.00 to $150.00 in a research report on Wednesday, May 22nd.
One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and an average target price of $156.83.
Check Out Our Latest Research Report on GRMN Garmin Stock Down 0.3 % Garmin ( NYSE:GRMN – Get Free Report ) last announced its quarterly earnings results on Wednesday, July 31st. The scientific and technical instruments company reported $1.
58 EPS for the quarter, beating analysts’ consensus estimates of $1.40 by $0.18.
The company had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.42 billion.
Garmin had a net margin of 24.36% and a return on equity of 17.09%.
Garmin’s revenue was up 14.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.
45 EPS. On average, research analysts expect that Garmin will post 6.05 earnings per share for the current year.
Garmin Announces Dividend The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a dividend of $0.75 per share.
The ex-dividend date is Friday, March 14th. This represents a $3.00 annualized dividend and a dividend yield of 1.
67%. Garmin’s dividend payout ratio is currently 42.31%.
Insider Buying and Selling In other Garmin news, insider Cheng-Wei Wang sold 10,055 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $177.16, for a total transaction of $1,781,343.
80. Following the transaction, the insider now owns 40,965 shares of the company’s stock, valued at approximately $7,257,359.40.
The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website . In related news, Director Philip Straub sold 2,750 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $181.
46, for a total transaction of $499,015.00. Following the sale, the director now owns 88,622 shares of the company’s stock, valued at $16,081,348.
12. The sale was disclosed in a filing with the SEC, which is available through the SEC website . Also, insider Cheng-Wei Wang sold 10,055 shares of the business’s stock in a transaction dated Wednesday, August 21st.
The stock was sold at an average price of $177.16, for a total transaction of $1,781,343.80.
Following the completion of the transaction, the insider now owns 40,965 shares of the company’s stock, valued at $7,257,359.40. The disclosure for this sale can be found here .
Insiders sold a total of 12,892 shares of company stock valued at $2,296,174 over the last three months. 19.54% of the stock is owned by company insiders.
Institutional Inflows and Outflows Several large investors have recently modified their holdings of the company. Natixis Advisors L.P.
boosted its holdings in Garmin by 30.0% in the fourth quarter. Natixis Advisors L.
P. now owns 30,041 shares of the scientific and technical instruments company’s stock worth $3,861,000 after acquiring an additional 6,939 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Garmin during the first quarter valued at $1,389,000.
LBP AM SA increased its position in shares of Garmin by 81.4% in the 1st quarter. LBP AM SA now owns 7,284 shares of the scientific and technical instruments company’s stock valued at $1,084,000 after acquiring an additional 3,268 shares during the period.
State Board of Administration of Florida Retirement System lifted its position in Garmin by 3.5% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 173,715 shares of the scientific and technical instruments company’s stock worth $25,861,000 after acquiring an additional 5,945 shares during the period.
Finally, Cetera Investment Advisers grew its stake in Garmin by 51.7% during the 1st quarter. Cetera Investment Advisers now owns 28,395 shares of the scientific and technical instruments company’s stock valued at $4,227,000 after purchasing an additional 9,681 shares during the last quarter.
Institutional investors own 73.41% of the company’s stock. Garmin Company Profile ( Get 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.
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