Garmin Ltd. (NYSE:GRMN) Receives $254.00 Consensus Price Target from Brokerages

Shares of Garmin Ltd. (NYSE:GRMN) have received a consensus rating of “Moderate Buy” from the seven analysts that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, two have assigned a buy rating and two have issued a strong buy rating on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $254.00.

GRMN has been the topic of several research analyst reports. JPMorgan Chase & Co. raised their price target on shares of Garmin from $250.00 to $265.00 and gave the stock 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. Tigress Financial increased their target price on shares of Garmin from $310.00 to $320.00 and gave the company a “strong-buy” rating in a research note on Friday, February 20th. Barclays set a $240.00 target price on Garmin in a research report on Thursday, February 19th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Garmin in a research note on Thursday, January 22nd.

Garmin Stock Up 1.5%

Shares of GRMN stock opened at $235.04 on Friday. Garmin has a 12 month low of $169.26 and a 12 month high of $261.69. The firm has a market cap of $45.24 billion, a PE ratio of 27.33, a price-to-earnings-growth ratio of 2.78 and a beta of 0.94. The stock has a 50 day moving average of $223.22 and a 200-day moving average of $221.95.

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 (EPS) for the quarter, topping the consensus estimate of $2.39 by $0.40. The business had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $2.01 billion. Garmin had a net margin of 22.96% and a return on equity of 19.64%. Garmin’s quarterly revenue was up 16.6% on a year-over-year basis. During the same quarter last year, the company posted $2.41 earnings per share. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. As a group, equities analysts predict that Garmin will post 7.8 EPS for the current fiscal year.

Garmin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 26th. Shareholders of record on Friday, March 12th will be issued a $1.05 dividend. This represents a $4.20 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Friday, March 12th. Garmin’s payout ratio is 41.86%.

Insider Buying and Selling

In related news, VP Susan Lyman sold 3,805 shares of the company’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $251.32, for a total value of $956,272.60. Following the sale, the vice president owned 7,471 shares of the company’s stock, valued at $1,877,611.72. The trade was a 33.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Clifton A. Pemble sold 19,914 shares of the stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $251.58, for a total transaction of $5,009,964.12. Following the completion of the transaction, the chief executive officer directly owned 124,075 shares of the company’s stock, valued at $31,214,788.50. This trade represents a 13.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 44,403 shares of company stock worth $10,987,074. Insiders own 15.38% of the company’s stock.

Institutional Trading of Garmin

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Garmin by 2.5% in the third quarter. Vanguard Group Inc. now owns 20,197,564 shares of the scientific and technical instruments company’s stock worth $4,973,044,000 after purchasing an additional 499,235 shares in the last quarter. State Street Corp raised its holdings in shares of Garmin by 1.8% in 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 buying an additional 126,677 shares during the last quarter. Artisan Partners Limited Partnership raised its holdings in shares of Garmin by 6.4% in the second quarter. Artisan Partners Limited Partnership now owns 5,892,150 shares of the scientific and technical instruments company’s stock valued at $1,229,810,000 after buying an additional 356,161 shares during the last quarter. Geode Capital Management LLC lifted its position in Garmin by 1.3% during the 2nd quarter. Geode Capital Management LLC now owns 4,606,511 shares of the scientific and technical instruments company’s stock worth $958,405,000 after buying an additional 59,321 shares in the last quarter. Finally, Norges Bank bought a new stake in Garmin during the 2nd quarter worth about $410,304,000. 81.60% of the stock is owned by institutional investors.

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.