JPMorgan Chase & Co. Issues Positive Forecast for Garmin (NYSE:GRMN) Stock Price

Garmin (NYSE:GRMN) had its price target hoisted by JPMorgan Chase & Co. from $265.00 to $285.00 in a report issued on Thursday morning,Benzinga reports. They currently have a neutral rating on the scientific and technical instruments company’s stock.

Several other analysts have also recently weighed in on GRMN. Zacks Research upgraded Garmin from a “hold” rating to a “strong-buy” rating in a report on Monday, February 23rd. Weiss Ratings restated a “buy (b)” rating on shares of Garmin in a report on Thursday, January 22nd. Tigress Financial boosted their price target on Garmin from $310.00 to $320.00 and gave the stock a “strong-buy” rating in a report on Friday, February 20th. Finally, Barclays set a $240.00 price target on Garmin in a report on Thursday, February 19th. Two research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $258.00.

Garmin Trading Down 0.5%

NYSE:GRMN opened at $264.42 on Thursday. The stock has a market cap of $50.90 billion, a P/E ratio of 30.75, a price-to-earnings-growth ratio of 3.19 and a beta of 0.96. The stock’s 50-day moving average is $238.48 and its 200-day moving average is $223.02. Garmin has a 1-year low of $178.74 and a 1-year high of $267.25.

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

Garmin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 26th. Investors of record on Friday, March 12th will be paid a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Friday, March 12th. Garmin’s payout ratio is currently 48.84%.

Insider Buying and Selling

In related news, EVP Matthew Munn sold 5,275 shares of Garmin stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $250.97, for a total value of $1,323,866.75. Following the transaction, the executive vice president directly owned 9,876 shares of the company’s stock, valued at $2,478,579.72. The trade was a 34.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Patrick Desbois sold 6,694 shares of Garmin stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $251.65, for a total value of $1,684,545.10. Following the completion of the transaction, the chief operating officer directly owned 58,540 shares in the company, valued at approximately $14,731,591. This represents a 10.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 40,725 shares of company stock valued at $10,213,222 over the last 90 days. 15.38% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Garmin

A number of hedge funds and other institutional investors have recently made changes to their positions in GRMN. Reflection Asset Management acquired a new position in shares of Garmin in the fourth quarter worth approximately $32,000. Richardson Financial Services Inc. lifted its stake in Garmin by 62.2% in the third quarter. Richardson Financial Services Inc. now owns 133 shares of the scientific and technical instruments company’s stock valued at $33,000 after buying an additional 51 shares during the period. Atlas Capital Advisors Inc. acquired a new position in Garmin in the fourth quarter valued at approximately $34,000. Cornerstone Planning Group LLC lifted its stake in Garmin by 788.9% in the third quarter. Cornerstone Planning Group LLC now owns 160 shares of the scientific and technical instruments company’s stock valued at $39,000 after buying an additional 142 shares during the period. Finally, GraniteShares Advisors LLC acquired a new position in Garmin in the fourth quarter valued at approximately $41,000. 81.60% of the stock is owned by institutional investors and hedge funds.

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.