Garmin (NYSE:GRMN) Reaches New 1-Year High – Should You Buy?

Garmin Ltd. (NYSE:GRMN)’s stock price reached a new 52-week high on Monday . The company traded as high as $273.32 and last traded at $266.8430, with a volume of 956051 shares changing hands. The stock had previously closed at $267.42.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on GRMN shares. Barclays set a $240.00 price target on Garmin in a research note on Thursday, February 19th. Weiss Ratings restated a “buy (b)” rating on shares of Garmin in a report on Thursday, January 22nd. Tigress Financial upped their price objective 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. Zacks Research upgraded shares of Garmin from a “hold” rating to a “strong-buy” rating in a report on Monday, February 23rd. Finally, JPMorgan Chase & Co. boosted their target price on shares of Garmin from $265.00 to $285.00 and gave the company a “neutral” rating in a report on Thursday. 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $258.00.

Garmin Trading Down 0.1%

The firm has a market capitalization of $51.41 billion, a PE ratio of 31.06, a price-to-earnings-growth ratio of 3.20 and a beta of 0.96. The firm has a 50-day moving average of $239.79 and a two-hundred day moving average of $222.78.

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

Garmin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 26th. Investors of record on Friday, March 12th will be given a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Friday, March 12th. Garmin’s dividend payout ratio is 48.84%.

Insider Transactions at Garmin

In other Garmin news, CEO Clifton A. 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 $31,214,788.50. The trade was a 13.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Matthew Munn sold 5,275 shares of the business’s stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $250.97, for a total transaction of $1,323,866.75. Following the sale, 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 40,725 shares of company stock valued at $10,213,222 in the last three months. 15.38% of the stock is owned by company insiders.

Institutional Trading of Garmin

Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of Garmin by 2.5% in the third quarter. Vanguard Group Inc. now owns 20,197,564 shares of the scientific and technical instruments company’s stock worth $4,973,044,000 after buying an additional 499,235 shares during the period. State Street Corp raised its holdings in shares of Garmin by 1.8% during the 3rd quarter. State Street Corp now owns 7,250,844 shares of the scientific and technical instruments company’s stock valued at $1,785,304,000 after buying an additional 126,677 shares during the period. Norges Bank acquired a new position in Garmin during the 4th quarter worth approximately $395,234,000. Northern Trust Corp lifted its position in Garmin by 3.8% during the 4th quarter. Northern Trust Corp now owns 1,719,677 shares of the scientific and technical instruments company’s stock worth $348,836,000 after acquiring an additional 63,283 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Garmin by 6.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,591,369 shares of the scientific and technical instruments company’s stock worth $322,837,000 after acquiring an additional 96,850 shares during the period. 81.60% of the stock is currently owned by institutional investors and hedge funds.

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.