Sean Biddlecombe Sells 986 Shares of Garmin (NYSE:GRMN) Stock

Garmin Ltd. (NYSE:GRMN) Director Sean Biddlecombe sold 986 shares of the firm’s stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $292.88, for a total transaction of $288,779.68. Following the completion of the sale, the director directly owned 6,021 shares in the company, valued at approximately $1,763,430.48. This trade represents a 14.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Garmin Stock Down 0.8%

NYSE GRMN traded down $2.38 on Friday, hitting $295.17. 1,168,106 shares of the stock were exchanged, compared to its average volume of 919,004. Garmin Ltd. has a fifty-two week low of $186.67 and a fifty-two week high of $304.00. The company has a 50-day moving average price of $241.94 and a 200-day moving average price of $236.69. The company has a market cap of $56.93 billion, a PE ratio of 30.43, a PEG ratio of 3.48 and a beta of 0.90.

Garmin (NYSE:GRMN) last announced its quarterly earnings data on Wednesday, July 29th. The scientific and technical instruments company reported $2.81 earnings per share for the quarter, beating analysts’ consensus estimates of $2.30 by $0.51. The business had revenue of $2.02 billion for the quarter, compared to analyst estimates of $1.93 billion. Garmin had a net margin of 24.47% and a return on equity of 20.95%. The company’s revenue was up 11.4% on a year-over-year basis. During the same period last year, the business earned $2.17 EPS. Garmin has set its FY 2026 guidance at 10.000-10.000 EPS. As a group, equities research analysts predict that Garmin Ltd. will post 9.53 EPS for the current fiscal year.

Hedge Funds Weigh In On Garmin

Several large investors have recently bought and sold shares of the stock. GSA Capital Partners LLP acquired a new stake in shares of Garmin during the fourth quarter worth about $979,000. Commerzbank Aktiengesellschaft FI boosted its position in shares of Garmin by 282.5% in the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 6,518 shares of the scientific and technical instruments company’s stock valued at $1,322,000 after purchasing an additional 4,814 shares during the period. Generali Asset Management SPA SGR grew its stake in Garmin by 8,727.4% during the 4th quarter. Generali Asset Management SPA SGR now owns 9,357 shares of the scientific and technical instruments company’s stock worth $1,898,000 after buying an additional 9,251 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in Garmin by 121.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 107,929 shares of the scientific and technical instruments company’s stock worth $25,041,000 after buying an additional 59,229 shares during the period. Finally, Westerkirk Capital Inc. increased its position in Garmin by 88.2% during the fourth quarter. Westerkirk Capital Inc. now owns 20,700 shares of the scientific and technical instruments company’s stock worth $4,199,000 after buying an additional 9,700 shares during the period. Institutional investors and hedge funds own 81.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GRMN. Morgan Stanley lifted their price target on Garmin from $249.00 to $289.00 and gave the stock an “equal weight” rating in a report on Thursday. Wall Street Zen downgraded Garmin from a “buy” rating to a “hold” rating in a report on Saturday, June 20th. Barclays boosted their target price on Garmin from $238.00 to $297.00 and gave the stock an “equal weight” rating in a research note on Thursday. Tigress Financial upped their price target on Garmin from $320.00 to $325.00 and gave the company a “strong-buy” rating in a report on Wednesday, May 20th. Finally, JPMorgan Chase & Co. increased their price target 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. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Garmin presently has an average rating of “Moderate Buy” and a consensus target price of $289.20.

Garmin Company Profile

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.