Insider Selling: Garmin (NYSE:GRMN) CFO Sells 2,000 Shares of Stock

Garmin Ltd. (NYSE:GRMN) CFO Douglas Boessen sold 2,000 shares of the business’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $237.91, for a total transaction of $475,820.00. Following the transaction, the chief financial officer directly owned 26,049 shares in the company, valued at approximately $6,197,317.59. The trade was a 7.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Garmin Trading Down 0.5%

NYSE GRMN opened at $235.36 on Tuesday. The company’s fifty day simple moving average is $244.61 and its 200-day simple moving average is $225.75. Garmin Ltd. has a 52 week low of $186.67 and a 52 week high of $273.32. The stock has a market cap of $45.39 billion, a P/E ratio of 26.24, a PEG ratio of 2.79 and a beta of 0.91.

Garmin (NYSE:GRMN) last posted its earnings results on Wednesday, April 29th. The scientific and technical instruments company reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $1.84 by $0.24. Garmin had a net margin of 23.26% and a return on equity of 20.07%. The business had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.72 billion. During the same period in the previous year, the company posted $1.61 earnings per share. The business’s revenue for the quarter was up 14.0% compared to the same quarter last year. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. On average, research analysts expect that Garmin Ltd. will post 9.53 EPS for the current fiscal year.

Analyst Ratings Changes

GRMN has been the topic of a number of research reports. Wall Street Zen raised shares of Garmin from a “hold” rating to a “buy” rating in a report on Saturday. JPMorgan Chase & Co. upped their price objective on shares of Garmin from $265.00 to $285.00 and gave the company a “neutral” rating in a research note on Thursday, April 16th. Tigress Financial increased their price target on shares of Garmin from $320.00 to $325.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, May 20th. Barclays cut their price objective on shares of Garmin from $240.00 to $238.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 30th. Finally, Morgan Stanley set a $249.00 price target on Garmin in a report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $269.40.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Groupe la Francaise lifted its position in Garmin by 346.4% in the first quarter. Groupe la Francaise now owns 125 shares of the scientific and technical instruments company’s stock worth $29,000 after purchasing an additional 97 shares during the period. Reflection Asset Management bought a new position in shares of Garmin during the fourth quarter valued at $32,000. Atlas Capital Advisors Inc. bought a new position in shares of Garmin during the fourth quarter valued at $34,000. Archer Investment Corp bought a new position in shares of Garmin during the first quarter valued at $37,000. Finally, GraniteShares Advisors LLC bought a new position in shares of Garmin during the fourth quarter valued at $41,000. 81.60% of the stock is owned by institutional investors.

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.