Garmin Ltd. (NYSE:GRMN) Receives $142.33 Consensus Target Price from Brokerages

Shares of Garmin Ltd. (NYSE:GRMN) have been given a consensus rating of “Hold” by the six analysts that are currently covering the firm, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $142.33.

A number of brokerages have weighed in on GRMN. StockNews.com raised shares of Garmin from a “hold” rating to a “buy” rating in a report on Tuesday, April 23rd. Tigress Financial restated a “strong-buy” rating and set a $175.00 target price (up from $165.00) on shares of Garmin in a report on Tuesday, February 27th. JPMorgan Chase & Co. increased their price objective on Garmin from $139.00 to $155.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. Barrington Research lifted their target price on Garmin from $119.00 to $140.00 and gave the stock an “equal weight” rating in a report on Thursday, February 22nd. Finally, Bank of America boosted their target price on Garmin from $120.00 to $165.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 3rd.

Insider Transactions at Garmin

In related news, CEO Clifton A. Pemble sold 1,622 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $134.19, for a total transaction of $217,656.18. Following the transaction, the chief executive officer now directly owns 159,319 shares of the company’s stock, valued at $21,379,016.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Clifton A. Pemble sold 1,622 shares of the firm’s 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 directly owns 159,319 shares in the company, valued at $21,379,016.61. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Susan Lyman sold 2,587 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $135.18, for a total transaction of $349,710.66. Following the completion of the transaction, the vice president now owns 7,174 shares in the company, valued at approximately $969,781.32. The disclosure for this sale can be found here. Insiders sold a total of 99,476 shares of company stock valued at $14,166,944 over the last quarter. Company insiders own 19.89% of the company’s stock.

Institutional Trading of Garmin

A number of institutional investors have recently bought and sold shares of GRMN. Wetzel Investment Advisors Inc. acquired a new position in shares of Garmin during the 4th quarter worth $26,000. Avior Wealth Management LLC raised its holdings in Garmin by 169.5% during the third quarter. Avior Wealth Management LLC now owns 283 shares of the scientific and technical instruments company’s stock valued at $30,000 after buying an additional 178 shares in the last quarter. Frazier Financial Advisors LLC acquired a new stake in shares of Garmin in the fourth quarter worth about $33,000. Headinvest LLC bought a new stake in shares of Garmin during the 3rd quarter worth about $41,000. Finally, Blue Trust Inc. increased its holdings in shares of Garmin by 35.2% during the 4th quarter. Blue Trust Inc. now owns 380 shares of the scientific and technical instruments company’s stock valued at $49,000 after acquiring an additional 99 shares during the last quarter. Institutional investors and hedge funds own 73.41% of the company’s stock.

Garmin Trading Up 13.1 %

Shares of NYSE:GRMN opened at $163.44 on Friday. The company has a 50 day moving average of $144.00 and a 200-day moving average of $128.62. The firm has a market cap of $31.39 billion, a P/E ratio of 24.36, a P/E/G ratio of 4.76 and a beta of 0.98. Garmin has a twelve month low of $95.79 and a twelve month high of $164.73.

Garmin (NYSE:GRMN) last issued its quarterly earnings results on Wednesday, February 21st. The scientific and technical instruments company reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.40 by $0.32. Garmin had a return on equity of 16.60% and a net margin of 24.67%. The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.41 billion. During the same period last year, the company posted $1.35 EPS. The firm’s quarterly revenue was up 13.3% on a year-over-year basis. Equities research analysts forecast that Garmin will post 5.45 EPS for the current year.

Garmin Dividend Announcement

The company 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 dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.84%. The ex-dividend date is Friday, December 13th. Garmin’s dividend payout ratio (DPR) is currently 43.52%.

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.