Garmin (NYSE:GRMN) COO Sells $1,684,545.10 in Stock

Garmin Ltd. (NYSE:GRMN) COO Patrick Desbois sold 6,694 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief operating officer directly owned 58,540 shares of the company’s stock, valued at $14,731,591. The trade was a 10.26% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Patrick Desbois also recently made the following trade(s):

• On Wednesday, January 7th, Patrick Desbois sold 3,678 shares of Garmin stock. The shares were sold at an average price of $210.40, for a total transaction of $773,851.20.

Garmin Price Performance

NYSE GRMN opened at $252.42 on Monday. The company has a market capitalization of $48.59 billion, a price-to-earnings ratio of 29.35, a price-to-earnings-growth 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’s fifty day moving average price is $213.48 and its two-hundred day moving average price is $221.18.

Garmin (NYSE:GRMN) last issued its quarterly earnings results 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 analysts’ expectations of $2.01 billion. Garmin had a net margin of 22.96% and a return on equity of 19.64%. The company’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same quarter last year, the company posted $2.41 earnings per share. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. As a group, analysts anticipate that Garmin Ltd. will post 7.8 EPS for the current year.

Garmin Announces Dividend

The company 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 1.7%. The ex-dividend date is Friday, March 12th. Garmin’s payout ratio is 41.86%.

More Garmin News

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.

Wall Street Analyst Weigh In

GRMN has been the topic of a number of research reports. Longbow Research raised shares of Garmin from a “neutral” rating to a “buy” rating and set a $250.00 target price on the stock in a report on Wednesday, December 3rd. JPMorgan Chase & Co. increased their price objective on shares of Garmin from $250.00 to $265.00 and gave the stock a “neutral” rating in a research note on Thursday, February 19th. Barclays set a $240.00 target price on Garmin in a research note on Thursday, February 19th. Tigress Financial increased their price target on Garmin from $310.00 to $320.00 and gave the stock a “strong-buy” rating in a research report on Friday, February 20th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Garmin in a research report on Thursday, January 22nd. Two 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 issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $254.00.

Institutional Trading of Garmin

Several hedge funds have recently added to or reduced their stakes in the business. SG Trading Solutions LLC acquired a new position in shares of Garmin during the fourth quarter valued at $435,000. MV Capital Management Inc. acquired a new position in Garmin during the 4th quarter valued at about $3,297,000. Corient Private Wealth LLC increased its stake in Garmin by 59.0% during the 4th quarter. Corient Private Wealth LLC now owns 32,562 shares of the scientific and technical instruments company’s stock valued at $6,605,000 after buying an additional 12,084 shares during the period. Alpine Woods Capital Investors LLC raised its position in shares of Garmin by 9.6% during the 4th quarter. Alpine Woods Capital Investors LLC now owns 10,209 shares of the scientific and technical instruments company’s stock worth $2,071,000 after buying an additional 895 shares in the last quarter. Finally, Summit Global Investments acquired a new stake in shares of Garmin in the 4th quarter worth approximately $210,000. Institutional investors 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.