Insider Selling: Garmin (NYSE:GRMN) EVP Sells $1,323,866.75 in Stock

Garmin Ltd. (NYSE:GRMN) EVP Matthew Munn sold 5,275 shares of the company’s stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $250.97, for a total value of $1,323,866.75. Following the sale, the executive vice president directly owned 9,876 shares in the company, valued at approximately $2,478,579.72. This represents a 34.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Garmin Price Performance

Garmin stock opened at $252.42 on Monday. The company has a market cap of $48.59 billion, a PE ratio of 29.35, a P/E/G ratio of 3.03 and a beta of 0.94. Garmin Ltd. has a 12 month low of $169.26 and a 12 month high of $261.69. The company has a fifty day moving average price of $213.48 and a two-hundred day moving average price of $221.18.

Garmin (NYSE:GRMN) last posted 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 analysts’ consensus estimates of $2.39 by $0.40. Garmin had a net margin of 22.96% and a return on equity of 19.64%. The company had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $2.01 billion. During the same period last year, the firm posted $2.41 EPS. The company’s revenue for the quarter was up 16.6% on a year-over-year basis. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. Equities research analysts anticipate that Garmin Ltd. will post 7.8 earnings per share for the current year.

Garmin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 26th. Stockholders 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 annualized dividend and a dividend yield of 1.7%. Garmin’s dividend payout ratio is 41.86%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Tigress Financial boosted their price objective on Garmin from $310.00 to $320.00 and gave the company a “strong-buy” rating in a research report on Friday, February 20th. Barclays set a $240.00 price target on shares of Garmin in a report on Thursday, February 19th. Zacks Research raised shares of Garmin from a “hold” rating to a “strong-buy” rating in a report on Monday, February 23rd. Weiss Ratings reiterated a “buy (b)” rating on shares of Garmin in a research report on Thursday, January 22nd. Finally, JPMorgan Chase & Co. upped their target price 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. Two research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Garmin currently has a consensus rating of “Moderate Buy” and a consensus target price of $254.00.

Trending Headlines about 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.

Hedge Funds Weigh In On Garmin

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Quaker Wealth Management LLC raised its position in shares of Garmin by 200.0% during the 2nd quarter. Quaker Wealth Management LLC now owns 132 shares of the scientific and technical instruments company’s stock worth $28,000 after buying an additional 264 shares in the last quarter. Richardson Financial Services Inc. increased its stake in shares of 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 valued at $33,000 after acquiring an additional 51 shares during the period. Atlas Capital Advisors Inc. acquired a new position in shares of Garmin during the fourth quarter valued at approximately $34,000. Cornerstone Planning Group LLC raised its holdings in Garmin by 788.9% during the third quarter. Cornerstone Planning Group LLC now owns 160 shares of the scientific and technical instruments company’s stock worth $39,000 after purchasing an additional 142 shares in the last quarter. Finally, GraniteShares Advisors LLC acquired a new stake in Garmin in the fourth quarter worth approximately $41,000. Institutional investors own 81.60% of the company’s stock.

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.