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

Garmin Ltd. (NYSE:GRMN) EVP Matthew Munn sold 5,275 shares of the company’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 in the company, valued at $2,478,579.72. The trade was a 34.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Garmin Stock Down 0.7%

Shares of Garmin stock opened at $252.42 on Friday. Garmin Ltd. has a 52-week low of $169.26 and a 52-week high of $261.69. The company has a market capitalization of $48.59 billion, a P/E ratio of 29.35, a P/E/G ratio of 3.03 and a beta of 1.00. The company has a 50 day moving average of $213.48 and a 200 day moving average of $221.29.

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

Garmin Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 26th. Stockholders 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 currently 41.86%.

Key Garmin News

Here are the key news stories impacting Garmin this week:

• Positive Sentiment: Rare institutional inflows continue to target Garmin, a long-term bullish technical/fund flow signal that some investors view as a structural tailwind. This can attract new demand and partly offset selling pressure. Read More.
• Neutral Sentiment: Despite the sales, insiders still retain sizable holdings (for example, CEO Clifton Pemble owns 124,075 shares after his sale), which can temper concerns that leadership is abandoning the stock. Read More.
• Negative Sentiment: Large, coordinated insider selling likely pressured the share price: CEO Clifton Pemble sold 19,914 shares (~$5.01M), COO Patrick Desbois sold 6,694 shares (~$1.68M), EVP Matthew Munn sold 5,275 shares (~$1.32M), CFO Douglas Boessen sold 3,487 shares (~$877.5K), and VP Susan Lyman sold 3,805 shares (~$956K). These trades represent double-digit percentage reductions for several executives and are being interpreted by some investors as a negative signal or as near-term supply hitting the market. SEC filings for each sale: Read More., Read More., Read More., Read More., Read More.

Wall Street Analysts Forecast Growth

GRMN has been the subject of a number of research analyst reports. Longbow Research raised Garmin from a “neutral” rating to a “buy” rating and set a $250.00 price target for the company in a report on Wednesday, December 3rd. Tigress Financial boosted their price objective on shares of Garmin from $310.00 to $320.00 and gave the stock a “strong-buy” rating in a research report on Friday, February 20th. JPMorgan Chase & Co. increased their target price on shares of Garmin from $250.00 to $265.00 and gave the company a “neutral” rating in a research report on Thursday, February 19th. Zacks Research upgraded shares of Garmin from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 23rd. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Garmin in a research report on Thursday, January 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $254.00.

Institutional Investors Weigh In On Garmin

Hedge funds have recently made changes to their positions in the business. SG Trading Solutions LLC acquired a new position in Garmin in the 4th quarter valued at about $435,000. MV Capital Management Inc. acquired a new position in shares of Garmin in the fourth quarter valued at approximately $3,297,000. Corient Private Wealth LLC raised its stake in shares of Garmin by 59.0% during the fourth quarter. Corient Private Wealth LLC now owns 32,562 shares of the scientific and technical instruments company’s stock worth $6,605,000 after purchasing an additional 12,084 shares during the last quarter. Alpine Woods Capital Investors LLC lifted its holdings in shares of Garmin by 9.6% during the fourth quarter. Alpine Woods Capital Investors LLC now owns 10,209 shares of the scientific and technical instruments company’s stock worth $2,071,000 after purchasing an additional 895 shares during the period. Finally, Summit Global Investments purchased a new position in Garmin in the 4th quarter valued at $210,000. Institutional investors and hedge funds own 81.60% of the company’s stock.

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.