Garmin Ltd. (NASDAQ:GRMN) Chairman Min H. Kao sold 254,517 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $94.88, for a total value of $24,148,572.96. The sale was disclosed in a filing with the SEC, which is available through the SEC website.
NASDAQ:GRMN opened at $93.22 on Thursday. The company has a market cap of $18.71 billion, a P/E ratio of 25.26, a P/E/G ratio of 3.09 and a beta of 0.91. The stock’s fifty day moving average price is $87.12 and its two-hundred day moving average price is $81.84. Garmin Ltd. has a 1 year low of $59.98 and a 1 year high of $96.44. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.64 and a quick ratio of 1.93.
Garmin (NASDAQ:GRMN) last posted its earnings results on Wednesday, October 30th. The scientific and technical instruments company reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.32. Garmin had a return on equity of 18.73% and a net margin of 21.79%. The firm had revenue of $934.38 million for the quarter, compared to the consensus estimate of $869.02 million. During the same quarter in the prior year, the business posted $1.00 earnings per share. The business’s quarterly revenue was up 15.4% on a year-over-year basis. On average, analysts expect that Garmin Ltd. will post 4.16 earnings per share for the current fiscal year.
Several hedge funds have recently modified their holdings of GRMN. Amundi Pioneer Asset Management Inc. raised its position in shares of Garmin by 30.4% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 233,012 shares of the scientific and technical instruments company’s stock worth $20,121,000 after buying an additional 54,258 shares in the last quarter. Rockland Trust Co. raised its position in shares of Garmin by 5.7% in the second quarter. Rockland Trust Co. now owns 20,415 shares of the scientific and technical instruments company’s stock worth $1,629,000 after buying an additional 1,097 shares in the last quarter. WINTON GROUP Ltd raised its position in shares of Garmin by 78.2% in the second quarter. WINTON GROUP Ltd now owns 23,728 shares of the scientific and technical instruments company’s stock worth $1,893,000 after buying an additional 10,416 shares in the last quarter. Carroll Financial Associates Inc. raised its position in shares of Garmin by 229.0% in the second quarter. Carroll Financial Associates Inc. now owns 2,270 shares of the scientific and technical instruments company’s stock worth $181,000 after buying an additional 1,580 shares in the last quarter. Finally, Calton & Associates Inc. purchased a new stake in shares of Garmin in the second quarter worth $537,000. Institutional investors own 42.08% of the company’s stock.
Several research firms have issued reports on GRMN. BidaskClub upgraded Garmin from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 9th. ValuEngine downgraded Garmin from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Tigress Financial restated a “buy” rating on shares of Garmin in a research report on Friday, August 16th. Finally, Morgan Stanley increased their target price on Garmin from $81.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Two analysts have rated the stock with a sell rating, five have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $79.33.
Garmin Company Profile
Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of navigation, communication, and information devices worldwide. It operates through five segments: Auto, Aviation, Marine, Outdoor, and Fitness. The Auto segment offers personal navigation devices; infotainment systems; and action cameras, as well as mobile applications under the Garmin and NAVIGON names.
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