Brokerages Set Garmin Ltd. (NYSE:GRMN) Price Target at $195.67

Shares of Garmin Ltd. (NYSE:GRMN - Get Free Report) have received a consensus rating of "Reduce" from the six ratings firms that are presently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $195.67.

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

Insider Transactions at Garmin

In other news, CFO Douglas G. Boessen sold 1,761 shares of the business's stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $207.99, for a total transaction of $366,270.39. Following the transaction, the chief financial officer now 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 the SEC website. Corporate insiders own 19.54% of the company's stock.

Institutional Investors Weigh In On Garmin

A number of institutional investors have recently added to or reduced their stakes in the company. Creative Planning grew its holdings in shares of Garmin by 3.7% during the 3rd quarter. Creative Planning now owns 34,736 shares of the scientific and technical instruments company's stock worth $6,115,000 after purchasing an additional 1,244 shares in the last quarter. Blue Trust Inc. lifted its position in Garmin by 111.7% in the third quarter. Blue Trust Inc. now owns 1,319 shares of the scientific and technical instruments company's stock worth $215,000 after purchasing an additional 696 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in Garmin by 172.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 48,351 shares of the scientific and technical instruments company's stock worth $8,511,000 after buying an additional 30,598 shares in the last quarter. Eastern Bank bought a new stake in Garmin in the 3rd quarter valued at $176,000. Finally, Private Advisor Group LLC raised its stake in shares of Garmin by 2.0% in the 3rd quarter. Private Advisor Group LLC now owns 4,314 shares of the scientific and technical instruments company's stock valued at $759,000 after buying an additional 83 shares in the last quarter. 81.60% of the stock is owned by institutional investors and hedge funds.

Garmin Trading Down 1.9 %

GRMN stock traded down $4.34 during midday trading on Friday, reaching $224.67. The company had a trading volume of 1,072,638 shares, compared to its average volume of 838,615. The company has a 50 day moving average of $213.24 and a two-hundred day moving average of $195.07. The company has a market capitalization of $43.14 billion, a P/E ratio of 30.73, a PEG ratio of 1.44 and a beta of 0.98. Garmin has a 1 year low of $131.20 and a 1 year high of $246.50.

Garmin (NYSE:GRMN - Get Free Report) 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 analysts' consensus estimates of $1.90 by $0.51. The firm had revenue of $1.82 billion during the quarter, compared to analysts' expectations of $1.70 billion. Garmin had a return on equity of 19.31% and a net margin of 22.42%. The business's revenue for the quarter was up 22.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.72 earnings per share. On average, sell-side analysts anticipate that Garmin will post 7.8 earnings per share for the current year.

Garmin Announces Dividend

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

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.