Garmin Ltd. (NYSE:GRMN) Receives $194.80 Consensus Target Price from Analysts

Garmin Ltd. (NYSE:GRMN - Get Free Report) has earned a consensus recommendation of "Reduce" from the five analysts that are covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a strong buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $194.80.

A number of brokerages have recently issued reports on GRMN. JPMorgan Chase & Co. lowered their price objective on Garmin from $220.00 to $215.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. Morgan Stanley boosted their price target on shares of Garmin from $159.00 to $172.00 and gave the stock an "underweight" rating in a report on Thursday, May 1st. Barclays dropped their price objective on Garmin from $188.00 to $152.00 and set an "underweight" rating on the stock in a research note on Wednesday, April 30th. Finally, Tigress Financial increased their price objective on Garmin from $265.00 to $285.00 and gave the stock a "strong-buy" rating in a report on Wednesday, February 26th.

Garmin Trading Up 0.6 %

NYSE GRMN traded up $1.14 during trading on Wednesday, reaching $191.55. The company's stock had a trading volume of 544,637 shares, compared to its average volume of 877,093. Garmin has a 12 month low of $158.38 and a 12 month high of $246.50. The firm has a 50 day moving average price of $200.18 and a 200 day moving average price of $207.52. The firm has a market capitalization of $36.88 billion, a price-to-earnings ratio of 26.20, a price-to-earnings-growth ratio of 1.36 and a beta of 0.99.

Garmin (NYSE:GRMN - Get Free Report) last released its earnings results on Wednesday, April 30th. The scientific and technical instruments company reported $1.61 earnings per share for the quarter, missing analysts' consensus estimates of $1.62 by ($0.01). Garmin had a net margin of 22.42% and a return on equity of 19.31%. The company had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the previous year, the company posted $1.42 earnings per share. The business's revenue was up 11.1% compared to the same quarter last year. On average, equities analysts forecast that Garmin will post 7.8 EPS for the current fiscal year.

Garmin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date is Friday, March 13th. Garmin's payout ratio is 47.37%.

Insider Activity at Garmin

In other news, Director Matthew Munn sold 4,637 shares of Garmin stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $225.31, for a total transaction of $1,044,762.47. Following the sale, the director now owns 11,450 shares in the company, valued at $2,579,799.50. This trade represents a 28.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Susan Lyman sold 2,829 shares of the company's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $215.51, for a total value of $609,677.79. Following the sale, the vice president now directly owns 8,432 shares in the company, valued at $1,817,180.32. This trade represents a 25.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 24,342 shares of company stock valued at $5,486,094 in the last 90 days. Corporate insiders own 15.38% of the company's stock.

Institutional Trading of Garmin

Several hedge funds have recently made changes to their positions in the business. Geneos Wealth Management Inc. boosted its holdings in Garmin by 1.7% during the 4th quarter. Geneos Wealth Management Inc. now owns 2,863 shares of the scientific and technical instruments company's stock valued at $591,000 after acquiring an additional 49 shares during the period. Curbstone Financial Management Corp lifted its position in shares of Garmin by 1.3% during the fourth quarter. Curbstone Financial Management Corp now owns 3,886 shares of the scientific and technical instruments company's stock valued at $802,000 after buying an additional 50 shares during the last quarter. Larson Financial Group LLC grew its holdings in Garmin by 26.8% in the fourth quarter. Larson Financial Group LLC now owns 241 shares of the scientific and technical instruments company's stock worth $50,000 after purchasing an additional 51 shares during the last quarter. Addison Advisors LLC raised its stake in Garmin by 11.1% in the fourth quarter. Addison Advisors LLC now owns 522 shares of the scientific and technical instruments company's stock valued at $108,000 after buying an additional 52 shares during the last quarter. Finally, HB Wealth Management LLC boosted its stake in Garmin by 1.4% in the 4th quarter. HB Wealth Management LLC now owns 3,821 shares of the scientific and technical instruments company's stock worth $788,000 after purchasing an additional 53 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.