Garmin Ltd. (NYSE:GRMN) Receives $210.80 Consensus PT from Analysts

Shares of Garmin Ltd. (NYSE:GRMN) have been given an average rating of “Reduce” by the five research firms that are covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $210.80.

Several research analysts have weighed in on GRMN shares. Morgan Stanley raised shares of Garmin to a “sell” rating and increased their target price for the stock from $164.00 to $171.00 in a research note on Tuesday, February 11th. Tigress Financial raised their price objective on shares of Garmin from $265.00 to $285.00 and gave the company a “strong-buy” rating in a research note on Wednesday, February 26th. JPMorgan Chase & Co. raised their price objective on shares of Garmin from $219.00 to $260.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. Finally, Barclays raised their price objective on shares of Garmin from $158.00 to $188.00 and gave the company an “underweight” rating in a research note on Thursday, February 20th.

Garmin Price Performance

Shares of GRMN stock opened at $209.78 on Tuesday. The firm has a market cap of $40.36 billion, a PE ratio of 28.70, a price-to-earnings-growth ratio of 1.36 and a beta of 0.96. The company has a 50-day moving average of $216.96 and a two-hundred day moving average of $201.66. Garmin has a 1-year low of $138.86 and a 1-year high of $246.50.

Garmin (NYSE:GRMN) last announced its earnings results on Wednesday, February 19th. The scientific and technical instruments company reported $2.41 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.51. The company had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.70 billion. Garmin had a net margin of 22.42% and a return on equity of 19.31%. Garmin’s revenue was up 22.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.72 earnings per share. Sell-side analysts anticipate that Garmin will post 7.8 EPS for the current fiscal year.

Garmin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be issued a $0.90 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a $3.60 annualized dividend and a yield of 1.72%. Garmin’s dividend payout ratio (DPR) is 41.04%.

Insider Activity at Garmin

In related news, COO Patrick Desbois sold 6,911 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $227.15, for a total value of $1,569,833.65. Following the sale, the chief operating officer now owns 63,048 shares of the company’s stock, valued at $14,321,353.20. This trade represents a 9.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Clifton A. Pemble sold 7,202 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $227.14, for a total transaction of $1,635,862.28. Following the sale, the chief executive officer now directly owns 149,525 shares in the company, valued at approximately $33,963,108.50. The trade was a 4.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 24,342 shares of company stock valued at $5,486,094 over the last 90 days. 19.54% of the stock is owned by corporate insiders.

Institutional Trading of Garmin

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC raised its holdings in Garmin by 165.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 61,172 shares of the scientific and technical instruments company’s stock worth $12,617,000 after purchasing an additional 38,151 shares in the last quarter. Lansforsakringar Fondforvaltning AB publ acquired a new stake in Garmin during the fourth quarter worth approximately $10,174,000. Siemens Fonds Invest GmbH raised its holdings in Garmin by 45.7% during the fourth quarter. Siemens Fonds Invest GmbH now owns 23,640 shares of the scientific and technical instruments company’s stock worth $4,876,000 after purchasing an additional 7,414 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Garmin during the fourth quarter worth approximately $39,748,000. Finally, Fidelity D & D Bancorp Inc. increased its holdings in shares of Garmin by 13.2% in the 4th quarter. Fidelity D & D Bancorp Inc. now owns 1,857 shares of the scientific and technical instruments company’s stock valued at $383,000 after acquiring an additional 217 shares during the period. Institutional investors and hedge funds own 81.60% of the company’s stock.

About Garmin

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.