Insider Selling: Garmin (NYSE:GRMN) CEO Sells $5,009,964.12 in Stock

Garmin Ltd. (NYSE:GRMN) CEO Clifton Pemble sold 19,914 shares of the stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $251.58, for a total value of $5,009,964.12. Following the completion of the sale, the chief executive officer owned 124,075 shares in the company, valued at approximately $31,214,788.50. The trade was a 13.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Garmin Stock Down 0.7%

Shares of Garmin stock opened at $252.42 on Monday. 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 0.94. The company has a 50 day moving average of $213.48 and a 200 day moving average of $221.18.

Garmin (NYSE:GRMN) last released 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. Garmin had a return on equity of 19.64% and a net margin of 22.96%.The business had revenue of $2.12 billion during the quarter, compared to analysts’ expectations of $2.01 billion. During the same period in the prior year, the firm posted $2.41 EPS. The business’s quarterly revenue was up 16.6% compared to the same quarter last year. 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 business also recently declared a quarterly dividend, which will be paid on Friday, March 26th. Investors of record on Friday, March 12th will be issued a dividend of $1.05 per share. The ex-dividend date of this dividend is Friday, March 12th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 1.7%. Garmin’s dividend payout ratio (DPR) is currently 41.86%.

Hedge Funds Weigh In On Garmin

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

Analyst Upgrades and Downgrades

Several research analysts have weighed in on GRMN shares. Tigress Financial lifted their target price on Garmin from $310.00 to $320.00 and gave the company a “strong-buy” rating in a research note on Friday, February 20th. Weiss Ratings reiterated a “buy (b)” rating on shares of Garmin in a research report on Thursday, January 22nd. Zacks Research raised shares of Garmin from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 23rd. Barclays set a $240.00 target price on shares of Garmin in a research note on Thursday, February 19th. Finally, Longbow Research upgraded shares of Garmin from a “neutral” rating to a “buy” rating and set a $250.00 price target on the stock in a research note on Wednesday, December 3rd. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $254.00.

Key Headlines Impacting Garmin

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.

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.