Garmin (NYSE:GRMN) PT Raised to $155.00 at JPMorgan Chase & Co.

Garmin (NYSE:GRMN - Free Report) had its target price increased by JPMorgan Chase & Co. from $139.00 to $155.00 in a research note released on Thursday morning, Benzinga reports. They currently have a neutral rating on the scientific and technical instruments company's stock.

A number of other research firms also recently weighed in on GRMN. Barrington Research increased their price target on Garmin from $119.00 to $140.00 and gave the company an equal weight rating in a research note on Thursday, February 22nd. Tigress Financial reissued a strong-buy rating and issued a $175.00 price target (up previously from $165.00) on shares of Garmin in a research note on Tuesday, February 27th. StockNews.com upgraded shares of Garmin from a hold rating to a buy rating in a research report on Thursday. Finally, Bank of America upped their price objective on shares of Garmin from $120.00 to $165.00 and gave the company a neutral rating in a research report on Wednesday, April 3rd. Six research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of $142.33.

Garmin Trading Up 0.1 %

GRMN traded up $0.12 on Thursday, hitting $146.08. 507,836 shares of the stock traded hands, compared to its average volume of 932,421. Garmin has a 52 week low of $94.89 and a 52 week high of $149.54. The firm has a market capitalization of $28.02 billion, a PE ratio of 21.77, a P/E/G ratio of 4.89 and a beta of 0.98. The business has a fifty day moving average price of $137.65 and a two-hundred day moving average price of $124.58.

Garmin (NYSE:GRMN - Get Free Report) last announced its earnings results on Wednesday, February 21st. The scientific and technical instruments company reported $1.72 EPS for the quarter, topping the consensus estimate of $1.40 by $0.32. Garmin had a return on equity of 16.60% and a net margin of 24.67%. The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same period in the previous year, the business earned $1.35 EPS. Garmin's revenue was up 13.3% compared to the same quarter last year. On average, equities research analysts forecast that Garmin will post 5.45 EPS for the current fiscal year.

Garmin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be paid a $0.75 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $3.00 annualized dividend and a yield of 2.05%. Garmin's dividend payout ratio (DPR) is currently 43.52%.

Insider Activity at Garmin

In related news, CEO Clifton A. Pemble sold 1,622 shares of the firm's stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $134.19, for a total value of $217,656.18. Following the completion of the sale, the chief executive officer now directly owns 159,319 shares in the company, valued at approximately $21,379,016.61. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Garmin news, CEO Clifton A. Pemble sold 1,622 shares of the firm's stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $134.19, for a total transaction of $217,656.18. Following the completion of the sale, the chief executive officer now directly owns 159,319 shares in the company, valued at $21,379,016.61. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Susan Lyman sold 2,587 shares of the firm's stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $135.18, for a total transaction of $349,710.66. Following the sale, the vice president now owns 7,174 shares of the company's stock, valued at $969,781.32. The disclosure for this sale can be found here. In the last ninety days, insiders sold 99,476 shares of company stock worth $14,166,944. Insiders own 19.89% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Wetzel Investment Advisors Inc. acquired a new position in shares of Garmin during the fourth quarter worth $26,000. Avior Wealth Management LLC increased its position in shares of Garmin by 169.5% during the third quarter. Avior Wealth Management LLC now owns 283 shares of the scientific and technical instruments company's stock worth $30,000 after acquiring an additional 178 shares in the last quarter. Clear Street Markets LLC increased its position in shares of Garmin by 107.1% during the first quarter. Clear Street Markets LLC now owns 321 shares of the scientific and technical instruments company's stock worth $32,000 after acquiring an additional 166 shares in the last quarter. Frazier Financial Advisors LLC bought a new stake in shares of Garmin during the fourth quarter worth about $33,000. Finally, Headinvest LLC bought a new stake in Garmin in the 3rd quarter worth about $41,000. 73.41% of the stock is owned by 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.