Min H. Kao Sells 100,150 Shares of Garmin Ltd. (GRMN) Stock

Garmin Ltd. (NASDAQ:GRMN) insider Min H. Kao sold 100,150 shares of the firm’s stock in a transaction that occurred on Tuesday, April 24th. The stock was sold at an average price of $58.35, for a total transaction of $5,843,752.50. Following the transaction, the insider now directly owns 8,403,783 shares of the company’s stock, valued at $490,360,738.05. The sale was disclosed in a document filed with the SEC, which is available through this link.

Garmin stock opened at $59.74 on Friday. The stock has a market cap of $11.25 billion, a price-to-earnings ratio of 19.25, a PEG ratio of 2.29 and a beta of 0.98. Garmin Ltd. has a 52-week low of $59.05 and a 52-week high of $59.68.

Garmin (NASDAQ:GRMN) last issued its quarterly earnings results on Wednesday, May 2nd. The scientific and technical instruments company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.12. The company had revenue of $711.00 million during the quarter, compared to analyst estimates of $670.71 million. Garmin had a net margin of 18.57% and a return on equity of 15.66%. The business’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.52 EPS. equities research analysts predict that Garmin Ltd. will post 3.13 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Monday, June 18th will be issued a $0.53 dividend. This is an increase from Garmin’s previous quarterly dividend of $0.51. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.55%. Garmin’s payout ratio is presently 69.39%.

GRMN has been the topic of several recent research reports. Zacks Investment Research upgraded shares of Garmin from a “hold” rating to a “buy” rating and set a $67.00 target price on the stock in a report on Tuesday, March 20th. BidaskClub raised shares of Garmin from a “hold” rating to a “buy” rating in a research note on Thursday, March 15th. Tigress Financial reaffirmed a “buy” rating on shares of Garmin in a research note on Monday, March 12th. ValuEngine raised shares of Garmin from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Finally, Credit Suisse Group reissued a “hold” rating on shares of Garmin in a research report on Thursday, February 22nd. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Garmin currently has an average rating of “Hold” and an average price target of $60.40.

Hedge funds have recently added to or reduced their stakes in the company. James Investment Research Inc. raised its holdings in shares of Garmin by 908.8% during the fourth quarter. James Investment Research Inc. now owns 28,500 shares of the scientific and technical instruments company’s stock valued at $1,698,000 after acquiring an additional 25,675 shares during the period. Creative Planning grew its position in Garmin by 18.9% in the fourth quarter. Creative Planning now owns 15,711 shares of the scientific and technical instruments company’s stock worth $936,000 after acquiring an additional 2,501 shares in the last quarter. AXA bought a new stake in Garmin in the fourth quarter worth approximately $370,000. Garrison Financial Corp bought a new stake in Garmin in the fourth quarter worth approximately $211,000. Finally, Conning Inc. bought a new stake in Garmin in the fourth quarter worth approximately $644,000. Institutional investors and hedge funds own 41.17% of the company’s stock.

About Garmin

Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of navigation, communication, and information devices worldwide. It operates through five segments: Auto, Aviation, Marine, Outdoor, and Fitness. The Auto segment offers personal navigation devices; infotainment systems; and action cameras, as well as mobile applications under the Garmin and NAVIGON names.

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

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