Garmin (NYSE:GRMN) Insider Cheng-Wei Wang Sells 10,202 Shares

Key Points

• Cheng-Wei Wang, an insider at Garmin, sold 10,202 shares at an average price of $232.48, totaling over $2.37 million, which represents a 22.04% decrease in his position.
• Garmin reported earnings per share (EPS) of $2.17 for the last quarter, surpassing the consensus estimate of $1.90, with revenue rising by 20.4% year-over-year.
• The company announced a quarterly dividend of $0.90 per share, yielding approximately 1.5%, to be paid on September 26th.

Garmin Ltd. (NYSE:GRMN - Get Free Report) insider Cheng-Wei Wang sold 10,202 shares of the company's stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $232.48, for a total transaction of $2,371,760.96. Following the completion of the sale, the insider directly owned 36,092 shares in the company, valued at approximately $8,390,668.16. The trade was a 22.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Garmin Stock Performance

GRMN opened at $235.73 on Thursday. The firm has a market cap of $45.38 billion, a price-to-earnings ratio of 29.07, a PEG ratio of 2.56 and a beta of 0.99. The firm's 50-day simple moving average is $222.64 and its 200-day simple moving average is $210.97. Garmin Ltd. has a twelve month low of $160.94 and a twelve month high of $246.50.

Garmin (NYSE:GRMN - Get Free Report) last posted its earnings results on Wednesday, July 30th. The scientific and technical instruments company reported $2.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.27. Garmin had a net margin of 23.21% and a return on equity of 20.00%. The firm had revenue of $1.81 billion during the quarter, compared to analysts' expectations of $1.68 billion. During the same period in the previous year, the business posted $1.58 EPS. The business's revenue was up 20.4% compared to the same quarter last year. Garmin has set its FY 2025 guidance at 8.000-8.000 EPS. As a group, sell-side analysts anticipate that Garmin Ltd. will post 7.8 EPS for the current fiscal year.

Garmin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 1.5%. Garmin's dividend payout ratio (DPR) is 44.39%.

Analyst Ratings Changes

GRMN has been the subject of several analyst reports. JPMorgan Chase & Co. increased their price target on shares of Garmin from $215.00 to $250.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th. Barclays reissued an "underweight" rating and set a $167.00 target price (up previously from $152.00) on shares of Garmin in a research note on Wednesday, July 30th. Finally, Morgan Stanley increased their price target on Garmin from $172.00 to $186.00 and gave the stock an "underweight" rating in a report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $222.00.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Fulton Bank N.A. grew its holdings in shares of Garmin by 2.6% in the second quarter. Fulton Bank N.A. now owns 1,883 shares of the scientific and technical instruments company's stock valued at $393,000 after purchasing an additional 47 shares in the last quarter. Smith Moore & CO. boosted its holdings in Garmin by 4.3% in the second quarter. Smith Moore & CO. now owns 1,151 shares of the scientific and technical instruments company's stock valued at $240,000 after purchasing an additional 47 shares in the last quarter. Arrow Investment Advisors LLC boosted its holdings in Garmin by 3.6% in the second quarter. Arrow Investment Advisors LLC now owns 1,412 shares of the scientific and technical instruments company's stock valued at $295,000 after purchasing an additional 49 shares in the last quarter. Curbstone Financial Management Corp boosted its holdings in Garmin by 1.3% in the second quarter. Curbstone Financial Management Corp now owns 3,936 shares of the scientific and technical instruments company's stock valued at $822,000 after purchasing an additional 50 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its holdings in Garmin by 7.1% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 783 shares of the scientific and technical instruments company's stock valued at $163,000 after purchasing an additional 52 shares in the last quarter. Institutional investors and hedge funds own 81.60% of the company's stock.

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.

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