Analysts Set Garmin Ltd. (NYSE:GRMN) PT at $269.40

Shares of Garmin Ltd. (NYSE:GRMN) have been given an average recommendation of “Moderate Buy” by the seven brokerages that are covering the firm, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $269.40.

A number of equities analysts recently weighed in on the company. Tigress Financial lifted their price target on Garmin from $320.00 to $325.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, May 20th. Weiss Ratings reiterated a “buy (b)” rating on shares of Garmin in a report on Monday, June 8th. Barclays decreased their target price on shares of Garmin from $240.00 to $238.00 and set an “equal weight” rating for the company in a report on Thursday, April 30th. Zacks Research lowered shares of Garmin from a “strong-buy” rating to a “hold” rating in a report on Friday, May 1st. Finally, Wall Street Zen downgraded shares of Garmin from a “buy” rating to a “hold” rating in a research report on Saturday, June 20th.

Insider Activity at Garmin

In other Garmin news, CFO Douglas G. Boessen sold 2,000 shares of Garmin stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $237.91, for a total transaction of $475,820.00. Following the transaction, the chief financial officer directly owned 26,049 shares in the company, valued at approximately $6,197,317.59. The trade was a 7.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Joseph J. Hartnett sold 643 shares of the business’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $263.57, for a total transaction of $169,475.51. Following the sale, the director directly owned 21,277 shares in the company, valued at approximately $5,607,978.89. This trade represents a 2.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 14.80% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of GRMN. GSA Capital Partners LLP bought a new stake in Garmin during the 4th quarter worth about $979,000. Diversified Trust Co. grew its position in shares of Garmin by 123.1% during the 4th quarter. Diversified Trust Co. now owns 8,248 shares of the scientific and technical instruments company’s stock worth $1,673,000 after buying an additional 4,551 shares during the period. DB Fitzpatrick & Co Inc acquired a new stake in shares of Garmin during the 4th quarter worth approximately $1,439,000. Nordea Investment Management AB raised its stake in shares of Garmin by 12.0% during the fourth quarter. Nordea Investment Management AB now owns 93,493 shares of the scientific and technical instruments company’s stock worth $19,011,000 after buying an additional 10,020 shares during the last quarter. Finally, Commerzbank Aktiengesellschaft FI lifted its holdings in Garmin by 282.5% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 6,518 shares of the scientific and technical instruments company’s stock valued at $1,322,000 after buying an additional 4,814 shares during the period. 81.60% of the stock is owned by institutional investors and hedge funds.

Garmin Stock Performance

NYSE GRMN opened at $249.86 on Thursday. Garmin has a 1 year low of $186.67 and a 1 year high of $273.32. The business’s fifty day moving average is $238.18 and its two-hundred day moving average is $233.46. The stock has a market capitalization of $48.19 billion, a P/E ratio of 27.85, a P/E/G ratio of 2.95 and a beta of 0.90.

Garmin (NYSE:GRMN) last released its quarterly earnings data on Wednesday, April 29th. The scientific and technical instruments company reported $2.08 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.24. The business had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.72 billion. Garmin had a return on equity of 20.07% and a net margin of 23.26%.The company’s revenue was up 14.0% compared to the same quarter last year. During the same period last year, the company posted $1.61 EPS. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. On average, research analysts forecast that Garmin will post 9.53 earnings per share for the current year.

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.