Insider Selling: Garmin (NYSE:GRMN) CFO Sells $877,538.42 in Stock

Garmin Ltd. (NYSE:GRMN) CFO Douglas Boessen sold 3,487 shares of the business’s stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $251.66, for a total value of $877,538.42. Following the sale, the chief financial officer owned 28,049 shares in the company, valued at approximately $7,058,811.34. The trade was a 11.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Garmin Stock Down 0.7%

Shares of GRMN stock opened at $252.42 on Monday. Garmin Ltd. has a fifty-two week low of $169.26 and a fifty-two week high of $261.69. The stock has a market cap 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 business has a fifty day simple moving average of $213.48 and a 200-day simple 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 EPS for the quarter, topping the consensus estimate of $2.39 by $0.40. The business had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.01 billion. Garmin had a net margin of 22.96% and a return on equity of 19.64%. The business’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.41 EPS. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. On average, sell-side analysts anticipate that Garmin Ltd. will post 7.8 earnings per share for the current year.

Garmin Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 26th. Stockholders of record on Friday, March 12th will be given a $1.05 dividend. The ex-dividend date is Friday, March 12th. This represents a $4.20 annualized dividend and a dividend yield of 1.7%. Garmin’s dividend payout ratio is currently 41.86%.

Key Stories 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.

Analyst Ratings Changes

GRMN has been the topic of a number of recent research reports. Tigress Financial upped 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. Barclays set a $240.00 price objective on Garmin in a research report on Thursday, February 19th. JPMorgan Chase & Co. lifted their price objective on Garmin from $250.00 to $265.00 and gave the stock a “neutral” rating in a research report on Thursday, February 19th. Zacks Research raised shares of Garmin from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 23rd. Finally, Longbow Research raised 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 given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Garmin presently has an average rating of “Moderate Buy” and a consensus target price of $254.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Norges Bank acquired a new stake in shares of Garmin in the second quarter worth approximately $410,304,000. Vanguard Group Inc. boosted its holdings in shares of Garmin by 6.9% in the 2nd quarter. Vanguard Group Inc. now owns 19,698,329 shares of the scientific and technical instruments company’s stock valued at $4,111,435,000 after purchasing an additional 1,273,163 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in shares of Garmin by 649.2% in the 3rd quarter. Alliancebernstein L.P. now owns 1,256,668 shares of the scientific and technical instruments company’s stock valued at $309,417,000 after purchasing an additional 1,088,938 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of Garmin during the 4th quarter valued at $214,382,000. Finally, Amundi increased its holdings in shares of Garmin by 138.0% during the 2nd quarter. Amundi now owns 1,158,702 shares of the scientific and technical instruments company’s stock worth $247,255,000 after buying an additional 671,859 shares during the last quarter. Institutional investors and hedge funds own 81.60% of the company’s stock.

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.