Garmin (NYSE:GRMN) Director Sells $169,475.51 in Stock

Garmin Ltd. (NYSE:GRMN) Director Joseph Hartnett sold 643 shares of the company’s 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 transaction, the director owned 21,277 shares in the company, valued at $5,607,978.89. The trade was a 2.93% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Garmin Trading Up 1.0%

Shares of GRMN stock traded up $2.38 during trading hours on Tuesday, hitting $237.61. The company’s stock had a trading volume of 172,132 shares, compared to its average volume of 884,766. The company has a 50 day moving average of $244.61 and a 200 day moving average of $225.75. The stock has a market cap of $45.83 billion, a PE ratio of 26.51, a price-to-earnings-growth ratio of 2.79 and a beta of 0.91. Garmin Ltd. has a 12-month low of $186.67 and a 12-month high of $273.32.

Garmin (NYSE:GRMN) last released its quarterly earnings data on Wednesday, April 29th. The scientific and technical instruments company reported $2.08 EPS for the quarter, beating the consensus estimate of $1.84 by $0.24. The business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.72 billion. Garmin had a net margin of 23.26% and a return on equity of 20.07%. The business’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.61 EPS. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. As a group, analysts anticipate that Garmin Ltd. will post 9.53 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Tigress Financial increased their price target on shares of Garmin from $320.00 to $325.00 and gave the stock a “strong-buy” rating in a report on Wednesday, May 20th. Wall Street Zen raised shares of Garmin from a “hold” rating to a “buy” rating in a report on Saturday. Morgan Stanley set a $249.00 price target on shares of Garmin in a report on Thursday, April 30th. Barclays lowered their price target on shares of Garmin from $240.00 to $238.00 and set an “equal weight” rating on the stock in a report on Thursday, April 30th. Finally, JPMorgan Chase & Co. increased their price target on shares of Garmin from $265.00 to $285.00 and gave the stock a “neutral” rating in a report on Thursday, April 16th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $269.40.

Hedge Funds Weigh In On Garmin

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Groupe la Francaise lifted its holdings in Garmin by 346.4% during the first quarter. Groupe la Francaise now owns 125 shares of the scientific and technical instruments company’s stock valued at $29,000 after purchasing an additional 97 shares in the last quarter. Reflection Asset Management purchased a new position in Garmin during the fourth quarter valued at $32,000. Atlas Capital Advisors Inc. purchased a new position in Garmin during the fourth quarter valued at $34,000. Archer Investment Corp purchased a new position in Garmin during the first quarter valued at $37,000. Finally, GraniteShares Advisors LLC purchased a new position in Garmin during the fourth quarter valued at $41,000. 81.60% of the stock is owned by hedge funds and other 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.