Garmin Ltd. (GRMN) To Go Ex-Dividend on December 12th

Garmin Ltd. (NYSE:GRMN) announced a quarterly dividend on Wednesday, February 19th. Investors of record on Friday, December 12th will be paid a dividend of 0.90 per share by the scientific and technical instruments company on Friday, December 26th. This represents a c) dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Friday, December 12th.

Garmin has increased its dividend by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 8 years. Garmin has a dividend payout ratio of 42.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Garmin to earn $7.98 per share next year, which means the company should continue to be able to cover its $3.60 annual dividend with an expected future payout ratio of 45.1%.

Garmin Stock Up 0.8%

GRMN traded up $1.70 during trading hours on Wednesday, reaching $203.94. 34,262 shares of the company’s stock traded hands, compared to its average volume of 932,738. The firm has a 50-day moving average price of $220.62 and a 200 day moving average price of $222.26. The firm has a market capitalization of $39.23 billion, a PE ratio of 25.11, a PEG ratio of 2.28 and a beta of 1.01. Garmin has a 52-week low of $169.26 and a 52-week high of $261.69.

Garmin (NYSE:GRMN) last released its earnings results on Wednesday, October 29th. The scientific and technical instruments company reported $1.99 earnings per share for the quarter, hitting the consensus estimate of $1.99. The business had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.78 billion. Garmin had a return on equity of 19.42% and a net margin of 22.63%.The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period last year, the company earned $1.99 earnings per share. Garmin has set its FY 2025 guidance at 8.150-8.150 EPS. Equities analysts predict that Garmin will post 7.8 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Quaker Wealth Management LLC lifted its stake in shares of Garmin by 200.0% during the 2nd quarter. Quaker Wealth Management LLC now owns 132 shares of the scientific and technical instruments company’s stock worth $28,000 after purchasing an additional 264 shares during the last quarter. Groupe la Francaise bought a new position in Garmin in the first quarter worth about $33,000. Richardson Financial Services Inc. lifted its position in shares of Garmin by 62.2% during the third quarter. Richardson Financial Services Inc. now owns 133 shares of the scientific and technical instruments company’s stock valued at $33,000 after buying an additional 51 shares during the last quarter. Zions Bancorporation National Association UT bought a new stake in shares of Garmin in the 1st quarter valued at about $38,000. Finally, Cornerstone Planning Group LLC boosted its holdings in shares of Garmin by 788.9% in the 3rd quarter. Cornerstone Planning Group LLC now owns 160 shares of the scientific and technical instruments company’s stock valued at $39,000 after buying an additional 142 shares in the last quarter. 81.60% of the stock is currently owned by hedge funds and other institutional investors.

Garmin Company Profile

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.