Garmin Ltd. (GRMN)
NYSE NYSE Primary 
XMEX 
Prediction: This Stock Will Continue to Trounce the S&P 500
Profits have more than tripled over the last decade. Strong cash flow allows for plenty of investing and innovating.
Garmin's stock on track for biggest one-day decline in almost two years after BofA downgrade to sell
Garmin Ltd.'s stock fell 4.9% Wednesday to put it on track for its biggest percentage decline in almost two years after BofA analysts downgraded the stock to the equivalent of sell.
Can Garmin Be a 10x Stock?
Garmin has devices we rely on every day, and that may be an increasingly important position for hardware.
Garmin Ltd. (NYSE:GRMN) Shares Purchased by Panagora Asset Management Inc.
Panagora Asset Management Inc. boosted its stake in shares of Garmin Ltd. (NYSE:GRMN – Free Report) by 13.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 21,124 shares of the scientific and technical instruments company’s stock after buying an additional 2,499 shares during the quarter. Panagora Asset Management Inc.’s holdings in Garmin were worth $2,715,000 as of its most recent filing with the Securities and Exchange Commission. A number of other hedge funds also recently added to or reduced their stakes in the stock. Pacer Advisors Inc. grew its stake in Garmin by 213.5% in the 4th quarter. Pacer Advisors Inc. now owns 41,557 shares of the scientific and technical instruments company’s stock valued at $5,342,000 after acquiring an additional 28,301 shares during the last quarter. Peterson Wealth Services acquired a new position in Garmin in the 4th quarter valued at $2,365,000. Envestnet Asset Management Inc. boosted its holdings in shares of Garmin by 42.7% during the third quarter. Envestnet Asset Management Inc. now owns 125,389 shares of the scientific and technical instruments company’s stock worth $13,191,000 after purchasing an additional 37,532 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Garmin in the fourth quarter valued at $8,691,000. Finally, Natixis Advisors L.P. increased its stake in Garmin by 30.0% in the fourth quarter. Natixis Advisors L.P. now owns 30,041 shares of the scientific and technical instruments company’s stock valued at $3,861,000 after purchasing an additional 6,939 shares during the last quarter. 73.41% of the stock is owned by hedge funds and other institutional investors. Insider Activity In other Garmin news, Director Jonathan Burrell sold 15,000 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $140.00, for a total value of $2,100,000.00. Following the transaction, the director now owns 758,834 shares in the company, valued at approximately $106,236,760. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, VP Susan Lyman sold 2,587 shares of Garmin stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $135.18, for a total value of $349,710.66. Following the completion of the transaction, the vice president now directly owns 7,174 shares in the company, valued at $969,781.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jonathan Burrell sold 15,000 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $140.00, for a total value of $2,100,000.00. Following the transaction, the director now directly owns 758,834 shares in the company, valued at approximately $106,236,760. The disclosure for this sale can be found here. Insiders have sold 99,476 shares of company stock worth $14,166,944 over the last 90 days. Company insiders own 19.54% of the company’s stock. Analyst Ratings Changes Several research firms have commented on GRMN. Barrington Research lifted their price target on Garmin from $119.00 to $140.00 and gave the company an “equal weight” rating in a report on Thursday, February 22nd. Barclays upped their price target on shares of Garmin from $140.00 to $166.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 2nd. StockNews.com lowered shares of Garmin from a “buy” rating to a “hold” rating in a report on Wednesday, May 8th. Bank of America upped their price objective on Garmin from $120.00 to $165.00 and gave the stock a “neutral” rating in a report on Wednesday, April 3rd. Finally, JPMorgan Chase & Co. lifted their target price on Garmin from $155.00 to $175.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. Six equities research analysts have rated the stock with a hold rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $159.33. View Our Latest Analysis on GRMN Garmin Stock Up 0.6 % Garmin stock opened at $170.94 on Monday. The firm has a market capitalization of $32.83 billion, a P/E ratio of 24.11, a PEG ratio of 5.47 and a beta of 0.99. The firm has a fifty day moving average of $151.46 and a 200-day moving average of $134.29. Garmin Ltd. has a 52-week low of $99.61 and a 52-week high of $171.47. Garmin (NYSE:GRMN – Get Free Report) last released its quarterly earnings data on Wednesday, May 1st. The scientific and technical instruments company reported $1.42 EPS for the quarter, beating the consensus estimate of $1.00 by $0.42. Garmin had a return on equity of 17.26% and a net margin of 24.96%. The company had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same period last year, the company posted $1.02 earnings per share. The firm’s revenue was up 20.4% compared to the same quarter last year. On average, research analysts expect that Garmin Ltd. will post 5.58 EPS for the current fiscal year. Garmin Dividend Announcement The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Monday, June 17th will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.76%. The ex-dividend date of this dividend is Monday, June 17th. Garmin’s dividend payout ratio (DPR) is 41.18%. Garmin Company Profile (Free Report) 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.
Beacon Pointe Advisors LLC Invests $2.07 Million in Garmin Ltd. (NYSE:GRMN)
Beacon Pointe Advisors LLC purchased a new position in Garmin Ltd. (NYSE:GRMN – Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 16,116 shares of the scientific and technical instruments company’s stock, valued at approximately $2,071,000. Several other institutional investors also recently added to or reduced their stakes in the stock. Wetzel Investment Advisors Inc. purchased a new position in shares of Garmin during the fourth quarter worth approximately $26,000. Blue Trust Inc. raised its position in 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 purchasing an additional 99 shares in the last quarter. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Garmin in the 4th quarter worth $51,000. Headinvest LLC bought a new position in shares of Garmin during the 3rd quarter worth $41,000. Finally, MeadowBrook Investment Advisors LLC bought a new position in Garmin during the 4th quarter worth about $55,000. Hedge funds and other institutional investors own 73.41% of the company’s stock. Insider Transactions at Garmin In other Garmin news, Director Jonathan Burrell sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $146.15, for a total transaction of $2,192,250.00. Following the completion of the sale, the director now directly owns 623,834 shares in the company, valued at approximately $91,173,339.10. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Jonathan Burrell sold 15,000 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $146.15, for a total value of $2,192,250.00. Following the transaction, the director now directly owns 623,834 shares of the company’s stock, valued at $91,173,339.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Douglas G. Boessen sold 5,267 shares of the stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $134.56, for a total transaction of $708,727.52. Following the completion of the sale, the chief financial officer now owns 30,360 shares of the company’s stock, valued at approximately $4,085,241.60. The disclosure for this sale can be found here. Insiders sold 99,476 shares of company stock valued at $14,166,944 over the last 90 days. Corporate insiders own 19.54% of the company’s stock. Analyst Upgrades and Downgrades GRMN has been the subject of several research reports. Barrington Research upped their price target on shares of Garmin from $119.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 22nd. Tigress Financial increased their price target on shares of Garmin from $175.00 to $210.00 and gave the company a “strong-buy” rating in a research report on Tuesday, May 14th. JPMorgan Chase & Co. boosted their price objective on shares of Garmin from $155.00 to $175.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. Bank of America raised their target price on shares of Garmin from $120.00 to $165.00 and gave the company a “neutral” rating in a research note on Wednesday, April 3rd. Finally, StockNews.com downgraded Garmin from a “buy” rating to a “hold” rating in a research report on Wednesday, May 8th. Six equities research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Garmin presently has an average rating of “Hold” and an average target price of $159.33. Get Our Latest Analysis on Garmin Garmin Trading Up 0.6 % Shares of NYSE:GRMN opened at $170.94 on Monday. The company has a market capitalization of $32.83 billion, a PE ratio of 24.11, a PEG ratio of 5.47 and a beta of 0.99. Garmin Ltd. has a 12-month low of $99.61 and a 12-month high of $171.47. The business has a 50 day moving average of $151.46 and a two-hundred day moving average of $134.29. Garmin (NYSE:GRMN – Get Free Report) last posted its earnings results on Wednesday, May 1st. The scientific and technical instruments company reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.42. Garmin had a return on equity of 17.26% and a net margin of 24.96%. The firm had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.25 billion. During the same period last year, the firm earned $1.02 EPS. The company’s quarterly revenue was up 20.4% on a year-over-year basis. Equities research analysts predict that Garmin Ltd. will post 5.58 earnings per share for the current fiscal year. Garmin Dividend Announcement The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 17th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.76%. The ex-dividend date of this dividend is Monday, June 17th. Garmin’s payout ratio is presently 41.18%. About Garmin (Free Report) 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. See Also Five stocks we like better than Garmin The Significance of a Trillion-Dollar Market Cap Goes Beyond a Number Canada Goose Flies Higher Driven By DTC Growth How to Find Undervalued Stocks CVS Health Stock Has a Silver Lining Called Value About the Markup Calculator Magnificent 7 Still Magnificent as the Halfway Mark Approaches?
