Garmin Ltd. (NYSE:GRMN) Receives $195.67 Average Price Target from Brokerages

Garmin Ltd. (NYSE:GRMN) has earned an average recommendation of “Reduce” from the five research firms that are currently covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $206.80.

GRMN has been the subject of several recent research reports. JPMorgan Chase & Co. boosted their price target on Garmin from $219.00 to $260.00 and gave the company a “neutral” rating in a research note on Thursday. Tigress Financial increased their price target on Garmin from $215.00 to $265.00 and gave the company a “strong-buy” rating in a research note on Monday, December 16th. Morgan Stanley raised Garmin to a “sell” rating and boosted their price objective for the company from $164.00 to $171.00 in a research note on Tuesday, February 11th. Finally, Barclays boosted their price objective on Garmin from $158.00 to $188.00 and gave the company an “underweight” rating in a report on Thursday.

Garmin Trading Down 1.9 %

Shares of GRMN opened at $224.67 on Friday. The company has a market cap of $43.23 billion, a price-to-earnings ratio of 30.73, a PEG ratio of 1.36 and a beta of 0.98. The company’s fifty day simple moving average is $213.43 and its 200 day simple moving average is $195.73. Garmin has a 1-year low of $131.20 and a 1-year high of $246.50.

Garmin (NYSE:GRMN) last released its quarterly earnings data on Wednesday, February 19th. The scientific and technical instruments company reported $2.41 earnings per share (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 analyst estimates of $1.70 billion. During the same quarter in the prior year, the company earned $1.72 earnings per share. The business’s revenue for the quarter was up 22.9% compared to the same quarter last year. As a group, research analysts forecast that Garmin will post 7.8 earnings per share for the current year.

Garmin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend is Friday, March 13th. Garmin’s dividend payout ratio is currently 41.04%.

Insider Buying and Selling at Garmin

In related news, CFO Douglas G. Boessen sold 1,761 shares of the business’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $207.99, for a total transaction of $366,270.39. Following the sale, the chief financial officer now directly owns 27,612 shares in the company, valued at approximately $5,743,019.88. The trade was a 6.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 19.54% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Geneos Wealth Management Inc. raised its position in shares of Garmin by 1.7% in the fourth quarter. Geneos Wealth Management Inc. now owns 2,863 shares of the scientific and technical instruments company’s stock worth $591,000 after buying an additional 49 shares in the last quarter. Curbstone Financial Management Corp boosted its position in shares of Garmin by 1.3% during the 4th quarter. Curbstone Financial Management Corp now owns 3,886 shares of the scientific and technical instruments company’s stock valued at $802,000 after acquiring an additional 50 shares during the last quarter. Larson Financial Group LLC grew its holdings in shares of Garmin by 26.8% during the fourth quarter. Larson Financial Group LLC now owns 241 shares of the scientific and technical instruments company’s stock worth $50,000 after purchasing an additional 51 shares in the last quarter. Addison Advisors LLC lifted its position in Garmin by 11.1% during the fourth quarter. Addison Advisors LLC now owns 522 shares of the scientific and technical instruments company’s stock valued at $108,000 after purchasing an additional 52 shares during the last quarter. Finally, HB Wealth Management LLC grew its stake in Garmin by 1.4% in the 4th quarter. HB Wealth Management LLC now owns 3,821 shares of the scientific and technical instruments company’s stock worth $788,000 after buying an additional 53 shares in the last quarter. 81.60% of the stock is owned by institutional investors.

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.