Insider Selling: Garmin (NYSE:GRMN) VP Sells $335,381.76 in Stock

Garmin Ltd. (NYSE:GRMN) VP Joshua Maxfield sold 1,152 shares of the firm’s stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $291.13, for a total value of $335,381.76. Following the completion of the transaction, the vice president owned 15,042 shares in the company, valued at approximately $4,379,177.46. This trade represents a 7.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Garmin Stock Performance

Shares of NYSE:GRMN traded down $2.38 during trading on Friday, reaching $295.17. 1,168,106 shares of the stock were exchanged, compared to its average volume of 919,004. Garmin Ltd. has a 12-month low of $186.67 and a 12-month high of $304.00. The firm has a market cap of $56.93 billion, a price-to-earnings ratio of 30.43, a price-to-earnings-growth ratio of 3.48 and a beta of 0.90. The firm’s 50-day moving average price is $241.94 and its 200 day moving average price is $236.69.

Garmin (NYSE:GRMN) last posted its earnings results on Wednesday, July 29th. The scientific and technical instruments company reported $2.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.30 by $0.51. Garmin had a net margin of 24.47% and a return on equity of 20.95%. The firm had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $1.93 billion. During the same quarter in the prior year, the company earned $2.17 EPS. The company’s revenue was up 11.4% on a year-over-year basis. Garmin has set its FY 2026 guidance at 10.000-10.000 EPS. As a group, equities research analysts forecast that Garmin Ltd. will post 9.53 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on GRMN shares. Wall Street Zen downgraded shares of Garmin from a “buy” rating to a “hold” rating in a research note on Saturday, June 20th. Tigress Financial upped their price target on shares of Garmin from $320.00 to $325.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, May 20th. Zacks Research downgraded Garmin from a “strong-buy” rating to a “hold” rating in a report on Friday, May 1st. Weiss Ratings reissued a “buy (b)” rating on shares of Garmin in a research report on Monday, June 8th. Finally, Morgan Stanley boosted their price objective on Garmin from $249.00 to $289.00 and gave the stock an “equal weight” rating in a research note on Thursday. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $289.20.

Institutional Trading of Garmin

A number of hedge funds have recently made changes to their positions in GRMN. Trust Asset Management LLC boosted its stake in shares of Garmin by 4.5% in the second quarter. Trust Asset Management LLC now owns 1,792 shares of the scientific and technical instruments company’s stock valued at $426,000 after purchasing an additional 77 shares during the period. Handelsbanken Fonder AB increased its stake in Garmin by 2.2% during the 2nd quarter. Handelsbanken Fonder AB now owns 196,267 shares of the scientific and technical instruments company’s stock worth $46,621,000 after buying an additional 4,252 shares during the period. City Holding Co. boosted its position in Garmin by 1.4% in the 2nd quarter. City Holding Co. now owns 10,413 shares of the scientific and technical instruments company’s stock valued at $2,473,000 after buying an additional 145 shares during the last quarter. Herbst Group LLC increased its position in shares of Garmin by 41.5% during the second quarter. Herbst Group LLC now owns 5,800 shares of the scientific and technical instruments company’s stock worth $1,378,000 after acquiring an additional 1,700 shares during the last quarter. Finally, Sax Wealth Advisors LLC raised its position in shares of Garmin by 38.0% in the 2nd quarter. Sax Wealth Advisors LLC now owns 1,851 shares of the scientific and technical instruments company’s stock valued at $429,000 after purchasing an additional 510 shares in the last quarter. Hedge funds and other institutional investors 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.