Insider Selling: Garmin Ltd. (GRMN) Insider Sells $1,094,590.00 in Stock

Garmin Ltd. (NASDAQ:GRMN) insider Clifton A. Pemble sold 15,637 shares of Garmin stock in a transaction that occurred on Thursday, September 20th. The stock was sold at an average price of $70.00, for a total value of $1,094,590.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

NASDAQ GRMN opened at $69.57 on Thursday. The firm has a market cap of $13.80 billion, a price-to-earnings ratio of 23.66, a P/E/G ratio of 2.88 and a beta of 1.03. Garmin Ltd. has a fifty-two week low of $53.45 and a fifty-two week high of $70.75.

Garmin (NASDAQ:GRMN) last released its quarterly earnings data on Wednesday, August 1st. The scientific and technical instruments company reported $0.99 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.12. The company had revenue of $894.50 million for the quarter, compared to analyst estimates of $844.76 million. Garmin had a return on equity of 15.98% and a net margin of 18.72%. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.88 earnings per share. equities analysts forecast that Garmin Ltd. will post 3.3 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Edgestream Partners L.P. boosted its stake in Garmin by 87.5% during the second quarter. Edgestream Partners L.P. now owns 14,358 shares of the scientific and technical instruments company’s stock worth $876,000 after buying an additional 6,700 shares during the last quarter. Wells Fargo & Company MN boosted its stake in Garmin by 119.3% during the second quarter. Wells Fargo & Company MN now owns 499,964 shares of the scientific and technical instruments company’s stock worth $30,497,000 after buying an additional 272,012 shares during the last quarter. Piedmont Investment Advisors LLC boosted its stake in Garmin by 17.5% during the second quarter. Piedmont Investment Advisors LLC now owns 71,913 shares of the scientific and technical instruments company’s stock worth $4,387,000 after buying an additional 10,734 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in Garmin by 3.3% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 76,026 shares of the scientific and technical instruments company’s stock worth $4,638,000 after buying an additional 2,459 shares during the last quarter. Finally, Signition LP acquired a new position in shares of Garmin in the 2nd quarter valued at $208,000. 39.81% of the stock is currently owned by institutional investors.

A number of brokerages have recently issued reports on GRMN. BidaskClub raised Garmin from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, September 18th. ValuEngine raised Garmin from a “hold” rating to a “buy” rating in a research note on Tuesday, July 10th. Morgan Stanley set a $77.00 price target on Garmin and gave the stock an “equal weight” rating in a research note on Friday, September 21st. Finally, Longbow Research set a $75.00 price target on Garmin and gave the stock a “buy” rating in a research note on Thursday, September 20th. Five investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $67.40.

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.

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

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