Min H. Kao Sells 678,401 Shares of Garmin Ltd. (GRMN) Stock

Garmin Ltd. (NASDAQ:GRMN) insider Min H. Kao sold 678,401 shares of the company’s stock in a transaction on Friday, November 2nd. The stock was sold at an average price of $66.13, for a total value of $44,862,658.13. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

NASDAQ GRMN opened at $66.15 on Friday. Garmin Ltd. has a 1 year low of $57.01 and a 1 year high of $70.77. The firm has a market capitalization of $13.10 billion, a P/E ratio of 19.12, a PEG ratio of 2.59 and a beta of 0.98.

Garmin (NASDAQ:GRMN) last released its earnings results on Wednesday, October 31st. The scientific and technical instruments company reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.24. Garmin had a return on equity of 16.95% and a net margin of 19.45%. The firm had revenue of $810.01 million for the quarter, compared to the consensus estimate of $784.06 million. During the same period in the prior year, the firm earned $0.75 EPS. The firm’s revenue was up 7.8% on a year-over-year basis. Research analysts predict that Garmin Ltd. will post 3.48 earnings per share for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BP PLC acquired a new position in shares of Garmin in the 3rd quarter valued at $1,051,000. Wells Fargo & Company MN increased its position in shares of Garmin by 57.6% in the 3rd quarter. Wells Fargo & Company MN now owns 787,899 shares of the scientific and technical instruments company’s stock valued at $55,193,000 after acquiring an additional 287,935 shares during the period. Stratos Wealth Partners LTD. acquired a new position in shares of Garmin in the 3rd quarter valued at $141,000. Comerica Bank increased its position in shares of Garmin by 54.1% in the 3rd quarter. Comerica Bank now owns 58,015 shares of the scientific and technical instruments company’s stock valued at $3,629,000 after acquiring an additional 20,374 shares during the period. Finally, Chicago Equity Partners LLC acquired a new position in shares of Garmin in the 3rd quarter valued at $1,772,000. 38.79% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities analysts have recently issued reports on the company. BidaskClub raised Garmin from a “sell” rating to a “hold” rating in a research report on Saturday, October 27th. Morgan Stanley set a $77.00 price target on Garmin and gave the stock an “equal weight” rating in a research report 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 report on Thursday, September 20th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target 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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