Insider Selling: Garmin (NYSE:GRMN) COO Sells 6,694 Shares of Stock

Garmin Ltd. (NYSE:GRMN) COO Patrick Desbois sold 6,694 shares of the business’s stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $251.65, for a total transaction of $1,684,545.10. Following the completion of the transaction, the chief operating officer owned 58,540 shares of the company’s stock, valued at approximately $14,731,591. The trade was a 10.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Patrick Desbois also recently made the following trade(s):

• On Wednesday, January 7th, Patrick Desbois sold 3,678 shares of Garmin stock. The shares were sold at an average price of $210.40, for a total value of $773,851.20.

Garmin Stock Down 0.7%

Shares of Garmin stock traded down $1.74 on Friday, reaching $252.42. The company’s stock had a trading volume of 1,704,930 shares, compared to its average volume of 1,076,090. Garmin Ltd. has a 52 week low of $169.26 and a 52 week high of $261.69. The firm’s fifty day simple moving average is $213.48 and its two-hundred day simple moving average is $221.37. The company has a market capitalization of $48.59 billion, a price-to-earnings ratio of 29.35, a P/E/G ratio of 3.02 and a beta of 1.00.

Garmin (NYSE:GRMN) last released its quarterly earnings data on Wednesday, February 18th. The scientific and technical instruments company reported $2.79 EPS for the quarter, beating the consensus estimate of $2.39 by $0.40. Garmin had a return on equity of 19.64% and a net margin of 22.96%.The company had revenue of $2.12 billion for the quarter, compared to analysts’ expectations of $2.01 billion. During the same period last year, the firm posted $2.41 earnings per share. Garmin’s 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. As a group, research analysts predict that Garmin Ltd. will post 7.8 EPS for the current year.

Garmin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 26th. Stockholders of record on Friday, March 12th will be issued 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 payout ratio is presently 41.86%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on GRMN shares. Longbow Research raised shares of Garmin from a “neutral” rating to a “buy” rating and set a $250.00 target price for the company in a research report on Wednesday, December 3rd. Morgan Stanley raised their price target on Garmin from $193.00 to $195.00 and gave the stock an “underweight” rating in a research note on Thursday, October 30th. Barclays set a $240.00 price objective on Garmin in a research report on Thursday, February 19th. Tigress Financial increased their target price on Garmin from $310.00 to $320.00 and gave the company a “strong-buy” rating in a report on Friday, February 20th. Finally, Zacks Research upgraded Garmin from a “hold” rating to a “strong-buy” rating in a research note on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $254.00.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Mather Group LLC. increased its holdings in Garmin by 1.2% in the 3rd quarter. Mather Group LLC. now owns 3,749 shares of the scientific and technical instruments company’s stock worth $923,000 after acquiring an additional 44 shares in the last quarter. Smith Moore & CO. boosted its position in shares of Garmin by 4.3% in the second quarter. Smith Moore & CO. now owns 1,151 shares of the scientific and technical instruments company’s stock worth $240,000 after purchasing an additional 47 shares during the period. BSW Wealth Partners increased its stake in shares of Garmin by 2.9% in the third quarter. BSW Wealth Partners now owns 1,724 shares of the scientific and technical instruments company’s stock worth $425,000 after purchasing an additional 48 shares in the last quarter. Daymark Wealth Partners LLC raised its position in shares of Garmin by 0.7% during the 4th quarter. Daymark Wealth Partners LLC now owns 6,813 shares of the scientific and technical instruments company’s stock valued at $1,382,000 after purchasing an additional 48 shares during the period. Finally, SYM FINANCIAL Corp lifted its stake in shares of Garmin by 4.0% during the 3rd quarter. SYM FINANCIAL Corp now owns 1,294 shares of the scientific and technical instruments company’s stock valued at $319,000 after buying an additional 50 shares in the last quarter. 81.60% of the stock is owned by hedge funds and other 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.