Insider Selling: Garmin (NYSE:GRMN) EVP Sells 5,275 Shares of Stock

Garmin Ltd. (NYSE:GRMN) EVP Matthew Munn sold 5,275 shares of Garmin stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $250.97, for a total value of $1,323,866.75. Following the transaction, the executive vice president owned 9,876 shares of the company’s stock, valued at approximately $2,478,579.72. This represents a 34.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Garmin Stock Down 0.7%

Shares of NYSE GRMN traded down $1.74 during midday trading on Friday, reaching $252.42. 1,704,930 shares of the stock were exchanged, compared to its average volume of 1,076,090. The firm has a market cap of $48.59 billion, a price-to-earnings ratio of 29.35, a PEG ratio of 3.02 and a beta of 1.00. The firm has a 50-day simple moving average of $213.48 and a two-hundred day simple moving average of $221.37. Garmin Ltd. has a twelve month low of $169.26 and a twelve month high of $261.69.

Garmin (NYSE:GRMN) last announced its quarterly earnings results on Wednesday, February 18th. The scientific and technical instruments company reported $2.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.39 by $0.40. Garmin had a net margin of 22.96% and a return on equity of 19.64%. The firm had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $2.01 billion. During the same period in the prior year, the firm posted $2.41 earnings per share. The firm’s quarterly revenue was up 16.6% compared to the same quarter last year. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. Research analysts expect that Garmin Ltd. will post 7.8 EPS for the current fiscal year.

Garmin Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 26th. Shareholders of record on Friday, March 12th will be given a dividend of $1.05 per share. The ex-dividend date is Friday, March 12th. This represents a $4.20 dividend on an annualized basis and a yield of 1.7%. Garmin’s dividend payout ratio is currently 41.86%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on GRMN. Weiss Ratings reiterated a “buy (b)” rating on shares of Garmin in a research report on Thursday, January 22nd. Morgan Stanley increased their price objective on shares of Garmin from $193.00 to $195.00 and gave the company an “underweight” rating in a report on Thursday, October 30th. JPMorgan Chase & Co. boosted their target price on shares of Garmin from $250.00 to $265.00 and gave the stock a “neutral” rating in a research note on Thursday, February 19th. Tigress Financial raised their price target on shares of Garmin from $310.00 to $320.00 and gave the company a “strong-buy” rating in a research note on Friday, February 20th. Finally, Barclays set a $240.00 price objective on Garmin in a research note on Thursday, February 19th. Two analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $254.00.

Institutional Investors Weigh In On Garmin

Hedge funds and other institutional investors have recently made changes to their positions in the stock. SG Trading Solutions LLC purchased a new position in Garmin during the fourth quarter worth approximately $435,000. MV Capital Management Inc. purchased a new position in shares of Garmin during the 4th quarter worth $3,297,000. Corient Private Wealth LLC boosted its position in shares of Garmin by 59.0% during the 4th quarter. Corient Private Wealth LLC now owns 32,562 shares of the scientific and technical instruments company’s stock valued at $6,605,000 after acquiring an additional 12,084 shares during the last quarter. Alpine Woods Capital Investors LLC grew its holdings in shares of Garmin by 9.6% in the fourth quarter. Alpine Woods Capital Investors LLC now owns 10,209 shares of the scientific and technical instruments company’s stock valued at $2,071,000 after purchasing an additional 895 shares during the period. Finally, Summit Global Investments acquired a new stake in Garmin during the fourth quarter worth about $210,000. Institutional investors and hedge funds own 81.60% of the company’s stock.

About Garmin

Garmin Ltd. is a technology company best known for designing and manufacturing navigation, communication and information devices that leverage global positioning system (GPS) technology. The company serves a diverse set of markets including consumer fitness and wearables, automotive navigation, aviation avionics, marine electronics and outdoor handheld devices. Garmin’s products combine hardware, mapping and software services to deliver location-aware solutions for personal, recreational and professional uses.

Garmin’s product lineup includes wearable fitness and multisport watches (Forerunner, Fenix, Venu), cycling computers and accessories (Edge, Varia), handheld and handheld-mounted GPS devices for outdoor activities, automotive and portable navigation units, marine chartplotters and fishfinders, and certified avionics for fixed- and rotary-wing aircraft.