Matthew Munn Sells 5,275 Shares of Garmin (NYSE:GRMN) Stock

Garmin Ltd. (NYSE:GRMN) EVP Matthew Munn sold 5,275 shares of the firm’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $250.97, for a total transaction of $1,323,866.75. Following the transaction, the executive vice president directly owned 9,876 shares in the company, valued at $2,478,579.72. This trade represents a 34.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Garmin Stock Down 0.7%

Shares of NYSE GRMN traded down $1.74 during midday trading on Friday, reaching $252.42. 1,704,930 shares of the company’s stock traded hands, compared to its average volume of 1,076,090. The company has a market cap 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. The stock’s 50 day simple moving average is $213.48 and its 200-day simple moving average is $221.37. Garmin Ltd. has a one year low of $169.26 and a one year high of $261.69.

Garmin (NYSE:GRMN) last posted its earnings results on Wednesday, February 18th. The scientific and technical instruments company reported $2.79 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $2.01 billion. During the same quarter in the prior year, the business earned $2.41 earnings per share. Garmin’s revenue was up 16.6% on a year-over-year basis. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. Equities analysts predict that Garmin Ltd. will post 7.8 EPS for the current fiscal year.

Garmin Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 26th. Shareholders of record on Friday, March 12th will be given 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%.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Zacks Research upgraded shares of Garmin from a “hold” rating to a “strong-buy” rating in a research note on Monday. Morgan Stanley increased their price objective on Garmin from $193.00 to $195.00 and gave the company an “underweight” rating in a report on Thursday, October 30th. Weiss Ratings restated a “buy (b)” rating on shares of Garmin in a research note on Thursday, January 22nd. JPMorgan Chase & Co. increased their price target on Garmin from $250.00 to $265.00 and gave the company a “neutral” rating in a research note on Thursday, February 19th. Finally, Tigress Financial boosted their price target on Garmin from $310.00 to $320.00 and gave the stock a “strong-buy” rating in a research note on Friday, February 20th. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Garmin presently has an average rating of “Moderate Buy” and a consensus target price of $254.00.

Institutional Investors Weigh In On Garmin

A number of institutional investors and hedge funds have recently modified their holdings of GRMN. Brighton Jones LLC lifted its stake in Garmin by 31.3% during the 4th 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 position in 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 purchasing an additional 345 shares during the period. Woodline Partners LP boosted its holdings in Garmin by 40.6% in 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 purchasing an additional 3,757 shares during the last quarter. Focus Partners Wealth grew its position in Garmin by 51.1% during the 1st quarter. Focus Partners Wealth now owns 6,811 shares of the scientific and technical instruments company’s stock worth $1,479,000 after purchasing an additional 2,304 shares during the period. Finally, Sivia Capital Partners LLC raised its stake in shares of Garmin by 17.0% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,662 shares of the scientific and technical instruments company’s stock valued at $347,000 after buying an additional 242 shares during the last quarter. 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.