Garmin Ltd. (NASDAQ:GRMN) has received an average rating of “Buy” from the eight ratings firms that are covering the company, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $153.14.
Several analysts recently commented on the company. Morgan Stanley boosted their price target on Garmin from $138.00 to $147.00 and gave the company an “equal weight” rating in a research note on Thursday, July 29th. Bank of America lowered Garmin from a “buy” rating to a “neutral” rating and set a $155.00 price target on the stock. in a research note on Tuesday, June 22nd. Zacks Investment Research lowered Garmin from a “buy” rating to a “hold” rating and set a $144.00 price target on the stock. in a research note on Monday, May 3rd. Credit Suisse Group boosted their price target on Garmin from $129.00 to $140.00 and gave the company a “neutral” rating in a research note on Thursday, April 29th. Finally, Tigress Financial reissued a “strong-buy” rating and issued a $198.00 price objective (up previously from $174.00) on shares of Garmin in a research note on Wednesday, August 4th.
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GRMN opened at $173.43 on Wednesday. The company has a market capitalization of $33.35 billion, a PE ratio of 28.25, a PEG ratio of 4.47 and a beta of 1.00. Garmin has a 1 year low of $91.84 and a 1 year high of $173.57. The company’s 50 day moving average price is $154.07.
Garmin (NASDAQ:GRMN) last announced its quarterly earnings results on Wednesday, July 28th. The scientific and technical instruments company reported $1.68 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.23 by $0.45. Garmin had a return on equity of 21.68% and a net margin of 24.36%. As a group, sell-side analysts forecast that Garmin will post 5.6 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 31st. Shareholders of record on Tuesday, March 15th will be paid a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date is Monday, March 14th. Garmin’s dividend payout ratio is currently 52.14%.
In other news, CEO Clifton A. Pemble sold 2,333 shares of the company’s stock in a transaction on Friday, August 6th. The stock was sold at an average price of $165.00, for a total transaction of $384,945.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jonathan Burrell sold 150,000 shares of the company’s stock in a transaction on Wednesday, June 2nd. The shares were sold at an average price of $142.06, for a total value of $21,309,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 236,975 shares of company stock worth $33,769,718. Insiders own 21.39% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Carolinas Wealth Consulting LLC increased its holdings in Garmin by 123.5% in the second quarter. Carolinas Wealth Consulting LLC now owns 190 shares of the scientific and technical instruments company’s stock valued at $27,000 after purchasing an additional 105 shares during the last quarter. Harbour Investments Inc. bought a new stake in Garmin in the first quarter valued at about $27,000. Arkadios Wealth Advisors increased its holdings in Garmin by 74.8% in the first quarter. Arkadios Wealth Advisors now owns 215 shares of the scientific and technical instruments company’s stock valued at $28,000 after purchasing an additional 92 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new stake in Garmin in the first quarter valued at about $30,000. Finally, E Fund Management Co. Ltd. bought a new stake in Garmin in the first quarter valued at about $35,000. Institutional investors and hedge funds own 49.38% of the company’s stock.
Garmin Ltd. is a holding company, which engages in the provision of navigation, communications and information devices, most of which are enabled by Global Positioning System (GPS) technology. It operates through the following five segments: Marine, Outdoor, Fitness, Auto and Aviation. The Marine segment manufactures and offers recreational marine electronics such as cartography, Sounders, Radar, Autopilot Systems and Sailing.
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