Garmin (NYSE:GRMN) CFO Sells $475,820.00 in Stock

Garmin Ltd. (NYSE:GRMN) CFO Douglas Boessen sold 2,000 shares of the firm’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 completion of the sale, the chief financial officer owned 26,049 shares in the company, valued at approximately $6,197,317.59. The trade was a 7.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Garmin Trading Up 3.0%

Shares of Garmin stock opened at $238.58 on Friday. The company’s fifty day simple moving average is $245.01 and its 200-day simple moving average is $226.73. The company has a market cap of $46.01 billion, a price-to-earnings ratio of 26.60, a PEG ratio of 2.74 and a beta of 0.91. Garmin Ltd. has a 1 year low of $186.67 and a 1 year high of $273.32.

Garmin (NYSE:GRMN) last announced its quarterly earnings data on Wednesday, April 29th. The scientific and technical instruments company reported $2.08 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $1.72 billion. During the same quarter last year, the company posted $1.61 earnings per share. Garmin’s quarterly revenue was up 14.0% on a year-over-year basis. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. As a group, research analysts forecast that Garmin Ltd. will post 9.53 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on GRMN. Weiss Ratings reiterated a “buy (b)” rating on shares of Garmin in a research note on Monday. Morgan Stanley set a $249.00 price target on shares of Garmin in a research note on Thursday, April 30th. Barclays decreased their price target on shares of Garmin from $240.00 to $238.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 30th. Tigress Financial lifted their price target on shares of Garmin from $320.00 to $325.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, May 20th. Finally, Zacks Research downgraded shares of Garmin from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $269.40.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in GRMN. Brighton Jones LLC lifted its holdings in shares of Garmin by 31.3% during the fourth quarter. Brighton Jones LLC now owns 1,943 shares of the scientific and technical instruments company’s stock valued at $401,000 after acquiring an additional 463 shares during the period. NewEdge Advisors LLC lifted its holdings in shares of Garmin by 6.2% during the first quarter. NewEdge Advisors LLC now owns 5,885 shares of the scientific and technical instruments company’s stock valued at $1,278,000 after acquiring an additional 345 shares during the period. Woodline Partners LP lifted its holdings in shares of Garmin by 40.6% during the first quarter. Woodline Partners LP now owns 13,017 shares of the scientific and technical instruments company’s stock valued at $2,826,000 after acquiring an additional 3,757 shares during the period. Focus Partners Wealth lifted its holdings in shares of Garmin by 51.1% during the first quarter. Focus Partners Wealth now owns 6,811 shares of the scientific and technical instruments company’s stock valued at $1,479,000 after acquiring an additional 2,304 shares during the period. Finally, Sivia Capital Partners LLC lifted its holdings in shares of Garmin by 17.0% during the second quarter. Sivia Capital Partners LLC now owns 1,662 shares of the scientific and technical instruments company’s stock valued at $347,000 after acquiring an additional 242 shares during the period. 81.60% of the stock is owned by institutional investors.

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.