Garmin Ltd. (NYSE:GRMN) Receives Average Rating of "Hold" from Brokerages

Shares of Garmin Ltd. (NYSE:GRMN - Get Free Report) have received an average recommendation of "Hold" from the six brokerages that are covering the firm, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $142.33.

GRMN has been the topic of several recent research reports. JPMorgan Chase & Co. lifted their target price on shares of Garmin from $139.00 to $155.00 and gave the company a "neutral" rating in a research report on Thursday, April 11th. Bank of America lifted their target price 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. StockNews.com raised shares of Garmin from a "hold" rating to a "buy" rating in a report on Tuesday. Tigress Financial reissued a "strong-buy" rating and set a $175.00 price target (up from $165.00) on shares of Garmin in a report on Tuesday, February 27th. Finally, Barrington Research lifted their price target on shares of Garmin from $119.00 to $140.00 and gave the company an "equal weight" rating in a report on Thursday, February 22nd.

Insiders Place Their Bets

In other news, CEO Clifton A. Pemble sold 1,622 shares of Garmin 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 owns 159,319 shares in the company, valued at approximately $21,379,016.61. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Clifton A. Pemble sold 1,622 shares of Garmin 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 owns 159,319 shares in the company, valued at approximately $21,379,016.61. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Jonathan Burrell sold 15,000 shares of Garmin stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $140.00, for a total transaction of $2,100,000.00. Following the sale, the director now owns 758,834 shares of the company's stock, valued at approximately $106,236,760. The disclosure for this sale can be found here. Over the last three months, insiders sold 99,476 shares of company stock valued at $14,166,944. Insiders own 19.89% of the company's stock.

Institutional Investors Weigh In On Garmin

Several large investors have recently bought and sold shares of the company. Massmutual Trust Co. FSB ADV increased its position in shares of Garmin by 17.6% during the first quarter. Massmutual Trust Co. FSB ADV now owns 542 shares of the scientific and technical instruments company's stock worth $81,000 after acquiring an additional 81 shares in the last quarter. 1620 Investment Advisors Inc. boosted its holdings in Garmin by 4.0% during the fourth quarter. 1620 Investment Advisors Inc. now owns 2,168 shares of the scientific and technical instruments company's stock worth $279,000 after purchasing an additional 84 shares during the last quarter. Greenleaf Trust boosted its holdings in Garmin by 2.5% during the fourth quarter. Greenleaf Trust now owns 3,518 shares of the scientific and technical instruments company's stock worth $452,000 after purchasing an additional 87 shares during the last quarter. Insight Folios Inc boosted its holdings in Garmin by 3.5% during the first quarter. Insight Folios Inc now owns 2,768 shares of the scientific and technical instruments company's stock worth $412,000 after purchasing an additional 93 shares during the last quarter. Finally, BayBridge Capital Group LLC boosted its holdings in Garmin by 3.0% during the first quarter. BayBridge Capital Group LLC now owns 3,274 shares of the scientific and technical instruments company's stock worth $462,000 after purchasing an additional 95 shares during the last quarter. Institutional investors own 73.41% of the company's stock.

Garmin Price Performance

NYSE:GRMN traded up $0.42 during midday trading on Friday, reaching $143.45. The stock had a trading volume of 625,349 shares, compared to its average volume of 770,905. Garmin has a 1-year low of $95.40 and a 1-year high of $149.54. The firm's fifty day simple moving average is $142.51 and its 200-day simple moving average is $127.71. The stock has a market capitalization of $27.55 billion, a P/E ratio of 21.38, a PEG ratio of 4.69 and a beta of 0.98.

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

Garmin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date is Friday, December 13th. Garmin's dividend payout ratio is presently 43.52%.

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.