Key Points
- CFO Douglas Boessen sold 3,487 shares on Feb. 26 at an average price of $251.66 for about $877,538, leaving him with 28,049 shares (an 11.06% reduction in his stake).
- The CFO sale was part of a wave of executive selling (including the CEO, COO and other senior officers) that generated multi‑million dollar proceeds and could create near‑term selling pressure, though insiders still hold sizable positions.
- Garmin recently beat quarterly estimates (EPS $2.79 vs. $2.39 expected; revenue $2.12B, +16.6% YoY), announced a $1.05 quarterly dividend (1.7% yield), and carries an analyst consensus of a “Moderate Buy” with a $254 average price target.
Garmin Ltd. (NYSE:GRMN - Get Free Report) CFO Douglas Boessen sold 3,487 shares of the stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $251.66, for a total transaction of $877,538.42. Following the sale, the chief financial officer directly owned 28,049 shares of the company's stock, valued at approximately $7,058,811.34. This represents a 11.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Garmin Stock Performance
NYSE GRMN opened at $252.42 on Friday. Garmin Ltd. has a 1 year low of $169.26 and a 1 year high of $261.69. The business's fifty day moving average is $213.48 and its two-hundred day moving average is $221.37. The stock has a market capitalization of $48.59 billion, a P/E ratio of 29.35, a P/E/G ratio of 3.04 and a beta of 1.00.
Garmin (NYSE:GRMN - Get Free Report) last issued its 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 return on equity of 19.64% and a net margin of 22.96%.The business had revenue of $2.12 billion for the quarter, compared to analysts' expectations of $2.01 billion. During the same period in the previous year, the firm posted $2.41 EPS. The company's quarterly revenue was up 16.6% on a year-over-year basis. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. On average, research analysts forecast that Garmin Ltd. will post 7.8 earnings per share for the current year.
Garmin Dividend Announcement
The company also recently announced 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. This represents a $4.20 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, March 12th. Garmin's dividend payout ratio (DPR) is 41.86%.
Analysts Set New Price Targets
GRMN has been the topic of several recent analyst 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 research note on Wednesday, December 3rd. JPMorgan Chase & Co. increased their price objective on Garmin from $250.00 to $265.00 and gave the stock a "neutral" rating in a research note on Thursday, February 19th. Tigress Financial lifted 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. Weiss Ratings reiterated a "buy (b)" rating on shares of Garmin in a report on Thursday, January 22nd. Finally, Zacks Research raised shares of Garmin from a "hold" rating to a "strong-buy" rating in a research report on Monday, February 23rd. Two equities 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 company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $254.00.
View Our Latest Analysis on GRMN
Hedge Funds Weigh In On Garmin
A number of hedge funds have recently added to or reduced their stakes in the company. Mather Group LLC. grew its position in Garmin by 1.2% in the third quarter. Mather Group LLC. now owns 3,749 shares of the scientific and technical instruments company's stock worth $923,000 after acquiring an additional 44 shares in the last quarter. Smith Moore & CO. boosted its holdings in Garmin by 4.3% in the second quarter. Smith Moore & CO. now owns 1,151 shares of the scientific and technical instruments company's stock worth $240,000 after purchasing an additional 47 shares in the last quarter. BSW Wealth Partners raised its holdings in Garmin by 2.9% during the third quarter. BSW Wealth Partners now owns 1,724 shares of the scientific and technical instruments company's stock valued at $425,000 after buying an additional 48 shares in the last quarter. Daymark Wealth Partners LLC raised its holdings in Garmin by 0.7% during the fourth quarter. Daymark Wealth Partners LLC now owns 6,813 shares of the scientific and technical instruments company's stock valued at $1,382,000 after buying an additional 48 shares in the last quarter. Finally, SYM FINANCIAL Corp lifted its position in shares of Garmin by 4.0% in the third quarter. SYM FINANCIAL Corp now owns 1,294 shares of the scientific and technical instruments company's stock worth $319,000 after buying an additional 50 shares during the last quarter. Institutional investors and hedge funds own 81.60% of the company's stock.
Garmin News Roundup
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.
Garmin Company Profile
(
Get Free Report)
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.
Further Reading
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