Insider Selling: Garmin Ltd. (GRMN) EVP Sells 2,453 Shares of Stock
Garmin Ltd. (NASDAQ:GRMN) EVP Philip Straub sold 2,453 shares of Garmin stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $61.91, for a total value of $151,865.23. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Garmin Ltd. (NASDAQ:GRMN) traded up $0.97 on Tuesday, hitting $62.49. The stock had a trading volume of 1,125,236 shares, compared to its average volume of 1,118,732. Garmin Ltd. has a 12 month low of $47.03 and a 12 month high of $62.61. The company has a market cap of $12,160.00, a P/E ratio of 21.34, a PEG ratio of 2.54 and a beta of 0.80.
Garmin (NASDAQ:GRMN) last posted its quarterly earnings data on Wednesday, November 1st. The scientific and technical instruments company reported $0.75 EPS for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.09. Garmin had a return on equity of 15.23% and a net margin of 22.65%. The company had revenue of $743.00 million for the quarter, compared to the consensus estimate of $722.00 million. During the same quarter in the previous year, the business earned $0.75 EPS. The company’s quarterly revenue was up 2.9% compared to the same quarter last year. equities research analysts predict that Garmin Ltd. will post 2.9 earnings per share for the current year.
GRMN has been the topic of several recent analyst reports. BidaskClub downgraded Garmin from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Morgan Stanley set a $50.00 target price on Garmin and gave the company a “hold” rating in a research note on Monday, July 31st. Longbow Research reaffirmed a “buy” rating on shares of Garmin in a research note on Thursday, August 3rd. Oppenheimer Holdings, Inc. reaffirmed a “market perform” rating on shares of Garmin in a research note on Tuesday, August 8th. Finally, Zacks Investment Research downgraded Garmin from a “buy” rating to a “hold” rating in a research note on Tuesday, October 17th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $56.33.
Several institutional investors and hedge funds have recently bought and sold shares of the company. WFG Advisors LP raised its position in shares of Garmin by 11.5% during the second quarter. WFG Advisors LP now owns 2,175 shares of the scientific and technical instruments company’s stock worth $111,000 after purchasing an additional 225 shares during the period. US Bancorp DE raised its position in shares of Garmin by 8.8% during the second quarter. US Bancorp DE now owns 2,215 shares of the scientific and technical instruments company’s stock worth $113,000 after purchasing an additional 180 shares during the period. Benjamin F. Edwards & Company Inc. raised its position in shares of Garmin by 72.2% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 3,741 shares of the scientific and technical instruments company’s stock worth $191,000 after purchasing an additional 1,568 shares during the period. Profund Advisors LLC acquired a new stake in shares of Garmin during the second quarter worth $202,000. Finally, Bank of Hawaii acquired a new stake in shares of Garmin during the third quarter worth $206,000. 38.72% of the stock is currently owned by institutional investors.
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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