Clifton Pemble Sells 19,914 Shares of Garmin (NYSE:GRMN) Stock

Garmin Ltd. (NYSE:GRMN) CEO Clifton Pemble sold 19,914 shares of Garmin stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $251.58, for a total transaction of $5,009,964.12. Following the transaction, the chief executive officer directly owned 124,075 shares of the company’s stock, valued at approximately $31,214,788.50. This trade represents a 13.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Garmin Price Performance

GRMN stock traded down $1.74 during midday trading on Friday, hitting $252.42. 1,704,930 shares of the stock traded hands, compared to its average volume of 1,076,090. Garmin Ltd. has a 1-year low of $169.26 and a 1-year high of $261.69. The stock’s fifty day simple moving average is $213.48 and its 200-day simple moving average is $221.37. The firm has a market cap of $48.59 billion, a P/E ratio of 29.35, a PEG ratio of 3.02 and a beta of 1.00.

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

Garmin Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Zacks Research upgraded shares of Garmin from a “hold” rating to a “strong-buy” rating in a research report on Monday. Morgan Stanley boosted their target price on shares of Garmin from $193.00 to $195.00 and gave the stock an “underweight” rating in a research note on Thursday, October 30th. 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. JPMorgan Chase & Co. boosted their price objective on Garmin from $250.00 to $265.00 and gave the stock a “neutral” rating in a research note on Thursday, February 19th. Finally, Barclays set a $240.00 target price on Garmin in a research report on Thursday, February 19th. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, two have given a Hold rating and one has assigned a Sell 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 $254.00.

Hedge Funds Weigh In On Garmin

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quaker Wealth Management LLC raised its holdings in shares of Garmin by 200.0% during the 2nd quarter. Quaker Wealth Management LLC now owns 132 shares of the scientific and technical instruments company’s stock worth $28,000 after acquiring an additional 264 shares during the period. Richardson Financial Services Inc. increased its position in Garmin by 62.2% during the third quarter. Richardson Financial Services Inc. now owns 133 shares of the scientific and technical instruments company’s stock worth $33,000 after purchasing an additional 51 shares during the last quarter. Atlas Capital Advisors Inc. purchased a new position in Garmin during the fourth quarter worth about $34,000. Cornerstone Planning Group LLC raised its stake in Garmin by 788.9% during the third quarter. Cornerstone Planning Group LLC now owns 160 shares of the scientific and technical instruments company’s stock worth $39,000 after purchasing an additional 142 shares during the period. Finally, GraniteShares Advisors LLC purchased a new stake in shares of Garmin in the 4th quarter valued at approximately $41,000. 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.