Min H. Kao Sells 362,080 Shares of Garmin Ltd. (NASDAQ:GRMN) Stock

Garmin Ltd. (NASDAQ:GRMN) insider Min H. Kao sold 362,080 shares of the company’s stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $79.09, for a total value of $28,636,907.20. Following the completion of the sale, the insider now owns 1,799,429 shares in the company, valued at approximately $142,316,839.61. The transaction was disclosed in a filing with the SEC, which is available at this link.

Shares of GRMN stock 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 firm has a market cap of $15.80 billion, a P/E ratio of 21.62, a price-to-earnings-growth ratio of 2.86 and a beta of 0.94. The stock’s 50 day simple moving average is $79.31. Garmin Ltd. has a 1-year low of $59.98 and a 1-year high of $89.72.

Garmin (NASDAQ:GRMN) last announced its earnings results on Wednesday, May 1st. The scientific and technical instruments company reported $0.73 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.02. The business had revenue of $766.00 million during the quarter, compared to the consensus estimate of $733.26 million. Garmin had a return on equity of 17.60% and a net margin of 20.72%. The business’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.68 EPS. On average, research analysts forecast that Garmin Ltd. will post 3.75 EPS 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 paid 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 is Friday, September 13th. Garmin’s payout ratio is 61.79%.

GRMN has been the topic of several recent research reports. Morgan Stanley upped their price objective on Zynga and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. BidaskClub upgraded Misonix from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 3rd. JPMorgan Chase & Co. upped their price objective on Diageo from GBX 3,100 ($40.51) to GBX 3,200 ($41.81) and gave the stock a “neutral” rating in a research report on Friday, June 7th. Zacks Investment Research lowered GenMark Diagnostics from a “hold” rating to a “sell” rating in a research report on Wednesday, April 24th. Finally, Tigress Financial restated a “buy” rating on shares of Garmin in a research report on Tuesday, June 11th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $78.66.

Several hedge funds have recently made changes to their positions in the company. Janus Henderson Group PLC raised its stake in shares of Garmin by 1.9% during the 1st quarter. Janus Henderson Group PLC now owns 1,452,073 shares of the scientific and technical instruments company’s stock worth $125,386,000 after buying an additional 26,844 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Garmin by 2.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,403,209 shares of the scientific and technical instruments company’s stock worth $88,848,000 after buying an additional 39,907 shares during the period. Northern Trust Corp raised its stake in shares of Garmin by 1.6% during the 1st quarter. Northern Trust Corp now owns 1,373,186 shares of the scientific and technical instruments company’s stock worth $118,575,000 after buying an additional 22,233 shares during the period. Norges Bank acquired a new position in shares of Garmin during the 4th quarter worth approximately $82,766,000. Finally, First Trust Advisors LP raised its stake in shares of Garmin by 26.3% during the 1st 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 buying an additional 233,543 shares during the period. 42.58% of the stock is owned by institutional investors and hedge funds.

About Garmin

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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Insider Buying and Selling by Quarter for Garmin (NASDAQ:GRMN)

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