Garmin Ltd. (NYSE:GRMN) Receives $210.80 Consensus Price Target from Brokerages

Garmin Ltd. (NYSE:GRMN) has been given a consensus recommendation of “Reduce” by the five research firms that are covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a strong buy rating on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $210.80.

Several analysts have recently commented on the company. Barclays raised their target price on Garmin from $158.00 to $188.00 and gave the stock an “underweight” rating in a research report on Thursday, February 20th. Morgan Stanley raised Garmin to a “sell” rating and boosted their price target for the stock from $164.00 to $171.00 in a research report on Tuesday, February 11th. Tigress Financial lifted their price objective on Garmin from $265.00 to $285.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, February 26th. Finally, JPMorgan Chase & Co. lifted their price objective on Garmin from $219.00 to $260.00 and gave the stock a “neutral” rating in a research note on Thursday, February 20th.

Insider Buying and Selling at Garmin

In other Garmin news, CEO Clifton A. Pemble sold 7,202 shares of Garmin stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $227.14, for a total transaction of $1,635,862.28. Following the sale, the chief executive officer now directly owns 149,525 shares of the company’s stock, valued at approximately $33,963,108.50. The trade was a 4.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Susan Lyman sold 2,829 shares of Garmin stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $215.51, for a total value of $609,677.79. Following the sale, the vice president now directly owns 8,432 shares in the company, valued at $1,817,180.32. The trade was a 25.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 24,342 shares of company stock valued at $5,486,094. 19.54% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC lifted its holdings in Garmin by 165.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 61,172 shares of the scientific and technical instruments company’s stock worth $12,617,000 after buying an additional 38,151 shares in the last quarter. Lansforsakringar Fondforvaltning AB publ bought a new stake in shares of Garmin in the 4th quarter valued at $10,174,000. Siemens Fonds Invest GmbH increased its position in shares of Garmin by 45.7% in the 4th quarter. Siemens Fonds Invest GmbH now owns 23,640 shares of the scientific and technical instruments company’s stock valued at $4,876,000 after buying an additional 7,414 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Garmin in the 4th quarter valued at $39,748,000. Finally, Fidelity D & D Bancorp Inc. increased its position in shares of Garmin by 13.2% in the 4th quarter. Fidelity D & D Bancorp Inc. now owns 1,857 shares of the scientific and technical instruments company’s stock valued at $383,000 after buying an additional 217 shares in the last quarter. Institutional investors and hedge funds own 81.60% of the company’s stock.

Garmin Price Performance

GRMN opened at $208.50 on Tuesday. Garmin has a 12 month low of $138.86 and a 12 month high of $246.50. The stock has a market cap of $40.12 billion, a P/E ratio of 28.52, a P/E/G ratio of 1.36 and a beta of 0.96. The stock’s 50 day moving average price is $216.95 and its 200 day moving average price is $201.33.

Garmin (NYSE:GRMN) last posted its earnings results on Wednesday, February 19th. The scientific and technical instruments company reported $2.41 EPS for the quarter, beating the consensus estimate of $1.90 by $0.51. Garmin had a return on equity of 19.31% and a net margin of 22.42%. The firm had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.70 billion. During the same period last year, the firm earned $1.72 EPS. The firm’s revenue was up 22.9% compared to the same quarter last year. Equities analysts anticipate that Garmin will post 7.8 EPS for the current year.

Garmin Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be paid a dividend of $0.90 per share. The ex-dividend date is Friday, March 13th. This represents a $3.60 annualized dividend and a yield of 1.73%. Garmin’s dividend payout ratio is 41.04%.

About Garmin

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.