Jonathan Burrell Sells 127,000 Shares of Garmin Ltd. (GRMN) Stock

Garmin Ltd. (NASDAQ:GRMN) major shareholder Jonathan Burrell sold 127,000 shares of the business’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $60.37, for a total transaction of $7,666,990.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Jonathan Burrell also recently made the following trade(s):

  • On Wednesday, November 8th, Jonathan Burrell sold 253,000 shares of Garmin stock. The stock was sold at an average price of $59.29, for a total transaction of $15,000,370.00.
  • On Monday, November 6th, Jonathan Burrell sold 127,000 shares of Garmin stock. The stock was sold at an average price of $59.33, for a total transaction of $7,534,910.00.
  • On Tuesday, September 12th, Jonathan Burrell sold 127,000 shares of Garmin stock. The stock was sold at an average price of $52.14, for a total transaction of $6,621,780.00.
  • On Wednesday, September 13th, Jonathan Burrell sold 253,000 shares of Garmin stock. The stock was sold at an average price of $52.13, for a total transaction of $13,188,890.00.
  • On Monday, September 11th, Jonathan Burrell sold 127,000 shares of Garmin stock. The stock was sold at an average price of $52.25, for a total transaction of $6,635,750.00.
  • On Tuesday, August 22nd, Jonathan Burrell sold 231,500 shares of Garmin stock. The stock was sold at an average price of $51.20, for a total transaction of $11,852,800.00.

Shares of Garmin Ltd. (NASDAQ GRMN) opened at $60.75 on Wednesday. The stock has a market cap of $11,999.53, a PE ratio of 21.03, a PEG ratio of 2.50 and a beta of 0.81. Garmin Ltd. has a fifty-two week low of $47.03 and a fifty-two week high of $61.28.

Garmin (NASDAQ:GRMN) last issued its earnings results on Wednesday, November 1st. The scientific and technical instruments company reported $0.75 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.09. Garmin had a net margin of 22.65% and a return on equity of 15.23%. The company had revenue of $743.00 million for the quarter, compared to analysts’ expectations of $722.00 million. During the same period in the prior year, the firm earned $0.75 EPS. Garmin’s quarterly revenue was up 2.9% compared to the same quarter last year. equities analysts predict that Garmin Ltd. will post 2.9 EPS for the current year.

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A number of institutional investors and hedge funds have recently made changes to their positions in GRMN. WFG Advisors LP grew its stake in Garmin by 11.5% in the 2nd quarter. WFG Advisors LP now owns 2,175 shares of the scientific and technical instruments company’s stock valued at $111,000 after buying an additional 225 shares during the last quarter. US Bancorp DE grew its stake in Garmin by 8.8% in the 2nd quarter. US Bancorp DE now owns 2,215 shares of the scientific and technical instruments company’s stock valued at $113,000 after buying an additional 180 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its stake in Garmin by 72.2% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 3,741 shares of the scientific and technical instruments company’s stock valued at $191,000 after buying an additional 1,568 shares during the last quarter. Profund Advisors LLC acquired a new position in Garmin in the 2nd quarter valued at about $202,000. Finally, Bank of Hawaii acquired a new position in Garmin in the 3rd quarter valued at about $206,000. Institutional investors and hedge funds own 38.01% of the company’s stock.

GRMN has been the topic of several analyst reports. Longbow Research raised shares of Garmin from a “neutral” rating to a “buy” rating and set a $60.00 price target on the stock in a research report on Wednesday, July 19th. They noted that the move was a valuation call. BidaskClub cut shares of Garmin from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Morgan Stanley set a $50.00 price target on shares of Garmin and gave the stock a “hold” rating in a research report on Monday, July 31st. Oppenheimer Holdings, Inc. reaffirmed a “market perform” rating on shares of Garmin in a report on Tuesday, August 8th. Finally, Zacks Investment Research cut shares of Garmin from a “buy” rating to a “hold” rating in a report on Tuesday, October 17th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $56.33.

About Garmin

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.

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

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