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

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Garmin Ltd. (NASDAQ:GRMN) insider Min H. Kao sold 362,080 shares of the business’s stock in a transaction 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 transaction, the insider now directly owns 1,799,429 shares of the company’s stock, valued at $142,316,839.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Shares of NASDAQ:GRMN opened at $78.99 on Friday. The stock has a market capitalization of $15.65 billion, a P/E ratio of 21.41, a P/E/G ratio of 2.90 and a beta of 0.94. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.07 and a current ratio of 4.04. Garmin Ltd. has a 52 week low of $59.98 and a 52 week high of $89.72. The firm has a fifty day simple moving average of $79.25.

Garmin (NASDAQ:GRMN) last announced its quarterly earnings data on Wednesday, May 1st. The scientific and technical instruments company reported $0.73 EPS for the quarter, beating the Zacks’ 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 revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.68 earnings per share. Research analysts forecast that Garmin Ltd. will post 3.75 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date is Friday, September 13th. Garmin’s dividend payout ratio is currently 61.79%.

Several large investors have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. grew its position in Garmin by 17.5% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 968 shares of the scientific and technical instruments company’s stock valued at $84,000 after acquiring an additional 144 shares during the period. Cozad Asset Management Inc. grew its position in Garmin by 0.5% during the first quarter. Cozad Asset Management Inc. now owns 32,811 shares of the scientific and technical instruments company’s stock valued at $2,833,000 after acquiring an additional 172 shares during the period. Signaturefd LLC grew its position in Garmin by 10.6% during the first quarter. Signaturefd LLC now owns 1,796 shares of the scientific and technical instruments company’s stock valued at $155,000 after acquiring an additional 172 shares during the period. O Shares Investment Advisers LLC grew its position in Garmin by 3.0% during the first quarter. O Shares Investment Advisers LLC now owns 6,302 shares of the scientific and technical instruments company’s stock valued at $544,000 after acquiring an additional 184 shares during the period. Finally, Raymond James Trust N.A. grew its position in Garmin by 5.3% during the first quarter. Raymond James Trust N.A. now owns 3,944 shares of the scientific and technical instruments company’s stock valued at $341,000 after acquiring an additional 197 shares during the period. 42.58% of the stock is owned by institutional investors and hedge funds.

A number of equities analysts have recently weighed in on GRMN shares. Zacks Investment Research cut GenMark Diagnostics from a “hold” rating to a “sell” rating in a report on Wednesday, April 24th. JPMorgan Chase & Co. boosted their price target on Diageo from GBX 3,100 ($40.51) to GBX 3,200 ($41.81) and gave the stock a “neutral” rating in a report on Friday, June 7th. Tigress Financial reissued a “buy” rating on shares of Garmin in a report on Tuesday, June 11th. Morgan Stanley boosted their price target on Zynga and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Finally, BidaskClub raised Misonix from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 3rd. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $78.66.

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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