Min H. Kao Sells 150,000 Shares of Garmin Ltd. (GRMN) Stock

Garmin Ltd. (NASDAQ:GRMN) Chairman Min H. Kao sold 150,000 shares of the company’s stock in a transaction on Friday, March 16th. The shares were sold at an average price of $60.05, for a total value of $9,007,500.00. Following the transaction, the chairman now directly owns 8,760,554 shares in the company, valued at $526,071,267.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Garmin Ltd. (GRMN) traded up $0.15 during trading on Tuesday, reaching $59.99. The company had a trading volume of 934,685 shares, compared to its average volume of 1,279,498. The stock has a market capitalization of $11,906.43, a PE ratio of 16.30, a PEG ratio of 2.36 and a beta of 0.97. Garmin Ltd. has a 12 month low of $48.50 and a 12 month high of $65.96.

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Garmin (NASDAQ:GRMN) last posted its quarterly earnings data on Wednesday, February 21st. The scientific and technical instruments company reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.04. The company had revenue of $888.49 million during the quarter, compared to analysts’ expectations of $872.73 million. Garmin had a return on equity of 15.16% and a net margin of 22.51%. Garmin’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.73 earnings per share. equities analysts predict that Garmin Ltd. will post 3.05 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Shareholders of record on Monday, June 18th will be given a $0.53 dividend. This is a boost from Garmin’s previous quarterly dividend of $0.51. This represents a $2.12 dividend on an annualized basis and a yield of 3.53%. Garmin’s dividend payout ratio is presently 55.43%.

GRMN has been the topic of a number of research analyst reports. BidaskClub downgraded Garmin from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 2nd. Tigress Financial reaffirmed a “buy” rating on shares of Garmin in a report on Friday, December 15th. ValuEngine raised Garmin from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Zacks Investment Research upgraded Garmin from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a research report on Thursday, January 4th. Finally, Credit Suisse Group reiterated a “hold” rating on shares of Garmin in a research report on Thursday, February 22nd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $57.00.

A number of institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. increased its position in Garmin by 1.3% in the fourth quarter. BlackRock Inc. now owns 11,270,906 shares of the scientific and technical instruments company’s stock worth $671,406,000 after buying an additional 141,665 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its position in Garmin by 24.3% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 2,012,907 shares of the scientific and technical instruments company’s stock worth $119,907,000 after buying an additional 393,740 shares in the last quarter. Disciplined Growth Investors Inc. MN increased its position in Garmin by 0.6% in the fourth quarter. Disciplined Growth Investors Inc. MN now owns 1,624,085 shares of the scientific and technical instruments company’s stock worth $96,747,000 after buying an additional 9,409 shares in the last quarter. Geode Capital Management LLC increased its position in Garmin by 14.6% in the fourth quarter. Geode Capital Management LLC now owns 1,506,624 shares of the scientific and technical instruments company’s stock worth $89,595,000 after buying an additional 191,405 shares in the last quarter. Finally, Schroder Investment Management Group increased its position in Garmin by 12.6% in the fourth quarter. Schroder Investment Management Group now owns 1,460,465 shares of the scientific and technical instruments company’s stock worth $87,000,000 after buying an additional 163,211 shares in the last quarter. Institutional investors and hedge funds own 39.29% of the company’s stock.

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Garmin Company Profile

Garmin Ltd. (Garmin) and subsidiaries offer global positioning system (GPS) navigation and wireless devices and applications. The Company operates through five segments. It offers a range of auto navigation products, as well as a range of products and applications designed for the mobile GPS market. It offers products to consumers around the world, including Outdoor Handhelds, Wearable Devices, Golf Devices, and Dog Tracking and Training/Pet Obedience Devices.

Insider Buying and Selling by Quarter for Garmin (NASDAQ:GRMN)

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