Analysts Set Garmin Ltd. (NYSE:GRMN) Price Target at $269.40

Garmin Ltd. (NYSE:GRMN) has received an average recommendation of “Moderate Buy” from the seven research firms that are presently covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $269.40.

A number of research analysts have recently issued reports on the company. Zacks Research downgraded Garmin from a “strong-buy” rating to a “hold” rating in a report on Friday, May 1st. Tigress Financial lifted 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. JPMorgan Chase & Co. lifted their target price on Garmin from $265.00 to $285.00 and gave the company a “neutral” rating in a research note on Thursday, April 16th. Wall Street Zen downgraded shares of Garmin from a “buy” rating to a “hold” rating in a report on Saturday, June 20th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Garmin in a report on Monday, June 8th.

Insider Buying and Selling

In related news, Director Joseph J. Hartnett sold 643 shares of the stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $263.57, for a total transaction of $169,475.51. Following the completion of the sale, the director owned 21,277 shares of the company’s stock, valued at $5,607,978.89. This represents a 2.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Douglas G. Boessen sold 2,000 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $237.91, for a total transaction of $475,820.00. Following the sale, the chief financial officer directly owned 26,049 shares of the company’s stock, valued at $6,197,317.59. The trade was a 7.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 15.38% of the company’s stock.

Institutional Investors Weigh In On Garmin

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. State Street Corp lifted its position in Garmin by 1.8% during the third 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 acquiring an additional 126,677 shares during the last quarter. Norges Bank purchased a new stake in Garmin during the fourth quarter valued at approximately $395,234,000. Northern Trust Corp lifted its position in Garmin by 3.8% during the fourth quarter. Northern Trust Corp now owns 1,719,677 shares of the scientific and technical instruments company’s stock valued at $348,836,000 after acquiring an additional 63,283 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Garmin by 2.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,631,843 shares of the scientific and technical instruments company’s stock valued at $378,540,000 after acquiring an additional 40,474 shares during the last quarter. Finally, Disciplined Growth Investors Inc. MN lifted its position in Garmin by 0.4% during the second quarter. Disciplined Growth Investors Inc. MN now owns 1,419,365 shares of the scientific and technical instruments company’s stock valued at $296,250,000 after acquiring an additional 5,213 shares during the last quarter. Hedge funds and other institutional investors own 81.60% of the company’s stock.

Garmin Price Performance

Garmin stock opened at $233.02 on Friday. The firm has a 50-day moving average of $241.80 and a two-hundred day moving average of $229.52. Garmin has a 1 year low of $186.67 and a 1 year high of $273.32. The stock has a market cap of $44.94 billion, a price-to-earnings ratio of 25.98, a price-to-earnings-growth ratio of 2.75 and a beta of 0.91.

Garmin (NYSE:GRMN) last released its quarterly earnings data on Wednesday, April 29th. The scientific and technical instruments company reported $2.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.84 by $0.24. Garmin had a net margin of 23.26% and a return on equity of 20.07%. The firm had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.72 billion. During the same period last year, the firm earned $1.61 earnings per share. The company’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. Research analysts expect that Garmin will post 9.53 earnings per share for the current year.

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.