Brokerages Set Garmin Ltd. (NYSE:GRMN) PT at $254.00

Garmin Ltd. (NYSE:GRMN) has received an average recommendation of “Moderate Buy” from the seven analysts that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation, two have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $254.00.

GRMN has been the subject of a number of research reports. Barclays set a $240.00 target price on shares of Garmin in a research report on Thursday, February 19th. 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 report on Wednesday, December 3rd. Tigress Financial raised their price objective on shares of Garmin from $310.00 to $320.00 and gave the stock a “strong-buy” rating in a research note on Friday, February 20th. Zacks Research upgraded Garmin from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 23rd. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Garmin in a research note on Thursday, January 22nd.

Insiders Place Their Bets

In related news, COO Patrick Desbois sold 6,694 shares of Garmin stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $251.65, for a total transaction of $1,684,545.10. Following the completion of the sale, the chief operating officer owned 58,540 shares in the company, valued at approximately $14,731,591. This trade represents a 10.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Clifton A. Pemble sold 19,914 shares of the business’s stock in a transaction dated Thursday, February 26th. The shares were 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. The trade was a 13.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 57,319 shares of company stock valued at $13,650,815. Insiders own 19.54% of the company’s stock.

Institutional Investors Weigh In On Garmin

Hedge funds have recently modified their holdings of the company. Reflection Asset Management acquired a new position in shares of Garmin in the fourth quarter valued at approximately $32,000. Richardson Financial Services Inc. boosted its position in Garmin by 62.2% during the third quarter. Richardson Financial Services Inc. now owns 133 shares of the scientific and technical instruments company’s stock worth $33,000 after acquiring an additional 51 shares during the last quarter. Atlas Capital Advisors Inc. purchased a new stake in Garmin in the 4th quarter worth approximately $34,000. Cornerstone Planning Group LLC raised its holdings in Garmin by 788.9% in the 3rd quarter. Cornerstone Planning Group LLC now owns 160 shares of the scientific and technical instruments company’s stock valued at $39,000 after acquiring an additional 142 shares during the last quarter. Finally, GraniteShares Advisors LLC acquired a new position in Garmin in the 4th quarter valued at $41,000. 81.60% of the stock is owned by institutional investors and hedge funds.

Garmin Stock Performance

Garmin stock opened at $233.55 on Friday. Garmin has a fifty-two week low of $169.26 and a fifty-two week high of $261.69. The firm has a market capitalization of $44.95 billion, a price-to-earnings ratio of 27.16, a price-to-earnings-growth ratio of 2.80 and a beta of 0.94. The stock’s fifty day moving average is $221.24 and its two-hundred day moving average is $221.88.

Garmin (NYSE:GRMN) last released its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $2.01 billion. Garmin had a return on equity of 19.64% and a net margin of 22.96%.The business’s revenue was up 16.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.41 EPS. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. As a group, sell-side analysts forecast that Garmin will post 7.8 EPS for the current fiscal year.

Garmin Announces Dividend

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

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.