Garmin Ltd. (NASDAQ:GRMN) was the target of some unusual options trading on Wednesday. Stock traders acquired 26,979 call options on the stock. This is an increase of 1,682% compared to the average volume of 1,514 call options.

Garmin stock opened at $83.94 on Thursday. The company has a market cap of $16.74 billion, a P/E ratio of 22.75, a P/E/G ratio of 3.10 and a beta of 0.92. Garmin has a one year low of $57.01 and a one year high of $85.50.

Garmin (NASDAQ:GRMN) last released its quarterly earnings results on Wednesday, February 20th. The scientific and technical instruments company reported $1.02 EPS for the quarter, topping the consensus estimate of $0.80 by $0.22. The firm had revenue of $932.11 million for the quarter, compared to analyst estimates of $893.14 million. Garmin had a return on equity of 17.67% and a net margin of 20.74%. Garmin’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.79 EPS. Analysts predict that Garmin will post 3.71 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 15th will be given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 2.53%. The ex-dividend date of this dividend is Thursday, March 14th. Garmin’s dividend payout ratio (DPR) is presently 57.45%.

Several research firms have recently weighed in on GRMN. Zacks Investment Research raised Garmin from a “hold” rating to a “buy” rating and set a $93.00 price objective on the stock in a research note on Monday, February 25th. Credit Suisse Group lifted their price objective on Garmin from $58.00 to $71.00 and gave the company an “underperform” rating in a research note on Monday, February 25th. Longbow Research lowered Garmin from a “buy” rating to a “neutral” rating and set a $81.95 price objective on the stock. in a research note on Thursday, February 21st. They noted that the move was a valuation call. ValuEngine lowered Garmin from a “buy” rating to a “hold” rating in a research note on Tuesday, February 19th. Finally, BidaskClub raised Garmin from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, February 13th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $77.19.

In other news, Director Sean Biddlecombe sold 1,500 shares of Garmin stock in a transaction dated Friday, February 22nd. The stock was sold at an average price of $83.51, for a total value of $125,265.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Clifton A. Pemble sold 2,683 shares of Garmin stock in a transaction dated Thursday, February 21st. The shares were sold at an average price of $82.38, for a total value of $221,025.54. Following the completion of the transaction, the insider now directly owns 141,883 shares in the company, valued at $11,688,321.54. The disclosure for this sale can be found here. Insiders own 17.85% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its holdings in Garmin by 7.1% during the 4th quarter. BlackRock Inc. now owns 12,886,129 shares of the scientific and technical instruments company’s stock worth $815,948,000 after purchasing an additional 852,593 shares during the last quarter. Vanguard Group Inc increased its holdings in Garmin by 9.0% during the 3rd quarter. Vanguard Group Inc now owns 12,760,863 shares of the scientific and technical instruments company’s stock worth $893,899,000 after purchasing an additional 1,057,737 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in Garmin by 1.0% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 2,188,371 shares of the scientific and technical instruments company’s stock worth $138,567,000 after purchasing an additional 22,158 shares during the last quarter. Disciplined Growth Investors Inc. MN increased its holdings in Garmin by 3.3% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 1,628,201 shares of the scientific and technical instruments company’s stock worth $114,055,000 after purchasing an additional 51,608 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund increased its holdings in Garmin by 5,916.1% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,586,799 shares of the scientific and technical instruments company’s stock worth $25,000 after purchasing an additional 1,560,423 shares during the last quarter. 42.35% of the stock is currently owned by hedge funds and other institutional investors.

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Garmin Company Profile

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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