Garmin Ltd. (NASDAQ:GRMN) Chairman Min H. Kao Sells 86,077 Shares

Garmin Ltd. (NASDAQ:GRMN) Chairman Min H. Kao sold 86,077 shares of Garmin stock in a transaction on Monday, July 8th. The shares were sold at an average price of $79.47, for a total transaction of $6,840,539.19. Following the completion of the sale, the chairman now directly owns 1,799,429 shares of the company’s stock, valued at $143,000,622.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

NASDAQ:GRMN opened at $79.79 on Friday. The company has a current ratio of 4.04, a quick ratio of 3.07 and a debt-to-equity ratio of 0.01. The stock’s 50-day simple moving average is $79.31. The company has a market capitalization of $15.80 billion, a P/E ratio of 21.62, a PEG ratio of 2.86 and a beta of 0.94. Garmin Ltd. has a one year low of $59.98 and a one year high of $89.72.

Garmin (NASDAQ:GRMN) last posted its earnings results on Wednesday, May 1st. The scientific and technical instruments company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.71 by $0.02. The company had revenue of $766.00 million during the quarter, compared to the consensus estimate of $733.26 million. Garmin had a net margin of 20.72% and a return on equity of 17.60%. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.68 earnings per share. As a group, equities research analysts predict that Garmin Ltd. will post 3.75 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 2.86%. The ex-dividend date of this dividend is Friday, September 13th. Garmin’s payout ratio is presently 61.79%.

Several equities research analysts have weighed in on the stock. JPMorgan Chase & Co. lifted their price target on shares of Diageo from GBX 3,100 ($40.51) to GBX 3,200 ($41.81) and gave the company a “neutral” rating in a research note on Friday, June 7th. Tigress Financial reaffirmed a “buy” rating on shares of Garmin in a research note on Tuesday, June 11th. Zacks Investment Research downgraded shares of GenMark Diagnostics from a “hold” rating to a “sell” rating in a research note on Wednesday, April 24th. BidaskClub raised shares of Misonix from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 3rd. Finally, Morgan Stanley lifted their price target on shares of Zynga and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Three analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. Garmin presently has an average rating of “Hold” and an average target price of $78.66.

Several large investors have recently bought and sold shares of GRMN. Norges Bank bought a new stake in shares of Garmin during the fourth quarter worth about $82,766,000. Hexavest Inc. bought a new stake in shares of Garmin during the first quarter worth about $37,769,000. JPMorgan Chase & Co. increased its position in shares of Garmin by 162.8% during the first quarter. JPMorgan Chase & Co. now owns 519,802 shares of the scientific and technical instruments company’s stock worth $44,885,000 after acquiring an additional 321,985 shares in the last quarter. Squarepoint Ops LLC increased its position in shares of Garmin by 44.3% during the fourth quarter. Squarepoint Ops LLC now owns 1,012,499 shares of the scientific and technical instruments company’s stock worth $64,111,000 after acquiring an additional 310,739 shares in the last quarter. Finally, First Trust Advisors LP increased its position in shares of Garmin by 26.3% during the first quarter. First Trust Advisors LP now owns 1,120,558 shares of the scientific and technical instruments company’s stock worth $96,760,000 after acquiring an additional 233,543 shares in the last quarter. 42.58% of the stock is owned by institutional investors.

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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