Garmin (NYSE:GRMN) Given New $165.00 Price Target at Tigress Financial

Garmin (NYSE:GRMNGet Rating) had its target price trimmed by Tigress Financial from $208.00 to $165.00 in a research note issued to investors on Friday, Marketbeat Ratings reports. The firm currently has a strong-buy rating on the scientific and technical instruments company’s stock.

GRMN has been the subject of a number of other reports. TheStreet lowered shares of Garmin from a b rating to a c+ rating in a research note on Wednesday, July 27th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Garmin from $160.00 to $150.00 in a research note on Thursday, April 28th. Morgan Stanley cut their target price on shares of Garmin from $127.00 to $115.00 and set an equal weight rating for the company in a research note on Tuesday, June 14th. Finally, Bank of America lowered shares of Garmin from a buy rating to a neutral rating and cut their target price for the company from $137.00 to $109.00 in a research note on Tuesday. Two analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Garmin currently has an average rating of Moderate Buy and an average target price of $134.75.

Garmin Trading Down 0.2 %

NYSE GRMN opened at $97.60 on Friday. Garmin has a 52 week low of $92.31 and a 52 week high of $178.80. The stock has a market cap of $18.82 billion, a price-to-earnings ratio of 18.63, a price-to-earnings-growth ratio of 3.57 and a beta of 0.95. The company has a 50-day moving average price of $100.21 and a two-hundred day moving average price of $108.97.

Garmin (NYSE:GRMNGet Rating) last issued its quarterly earnings results on Wednesday, July 27th. The scientific and technical instruments company reported $1.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.02. The company had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.37 billion. Garmin had a net margin of 20.31% and a return on equity of 17.71%. The business’s revenue for the quarter was down 6.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.68 EPS. As a group, equities research analysts expect that Garmin will post 4.9 earnings per share for the current fiscal year.

Garmin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Wednesday, March 15th will be paid a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a yield of 2.99%. The ex-dividend date of this dividend is Tuesday, March 14th. Garmin’s dividend payout ratio is presently 55.73%.

Insider Activity at Garmin

In related news, CEO Clifton A. Pemble sold 16,089 shares of the company’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $97.81, for a total value of $1,573,665.09. Following the completion of the sale, the chief executive officer now owns 145,500 shares in the company, valued at approximately $14,231,355. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 21.39% of the stock is owned by insiders.

Institutional Investors Weigh In On Garmin

Hedge funds have recently made changes to their positions in the company. Riverview Trust Co acquired a new position in Garmin in the 1st quarter valued at approximately $26,000. HWG Holdings LP acquired a new position in Garmin in the 4th quarter valued at approximately $35,000. Tradewinds Capital Management LLC increased its stake in Garmin by 100.0% in the 4th quarter. Tradewinds Capital Management LLC now owns 300 shares of the scientific and technical instruments company’s stock valued at $41,000 after buying an additional 150 shares during the period. Clear Street Markets LLC increased its stake in Garmin by 403.2% in the 2nd quarter. Clear Street Markets LLC now owns 317 shares of the scientific and technical instruments company’s stock valued at $31,000 after buying an additional 254 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new position in Garmin in the 1st quarter valued at approximately $45,000. Hedge funds and other institutional investors own 72.11% of the company’s stock.

Garmin Company Profile

(Get Rating)

Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of wireless devices in the Americas, the Asia Pacific, Australian Continent, Europe, the Middle East, and Africa. Its Fitness segment offers running and multi-sport watches; cycling products; activity tracking and smartwatch devices; and fitness and cycling accessories.

Further Reading

Receive News & Ratings for Garmin Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Garmin and related companies with MarketBeat.com's FREE daily email newsletter.