Garmin Ltd. (NYSE:GRMN - Get Free Report) Director Joseph Hartnett sold 643 shares of the firm's stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $263.57, for a total value 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 represents a 2.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Garmin Stock Up 1.1%
NYSE:GRMN opened at $237.86 on Wednesday. The business's 50-day simple moving average is $244.76 and its two-hundred day simple moving average is $226.09. The stock has a market cap of $45.87 billion, a PE ratio of 26.52, a P/E/G ratio of 2.78 and a beta of 0.91. Garmin Ltd. has a 52 week low of $186.67 and a 52 week high of $273.32.
Garmin (NYSE:GRMN - Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The scientific and technical instruments company reported $2.08 EPS for the quarter, beating analysts' consensus estimates of $1.84 by $0.24. The business had revenue of $1.75 billion for the quarter, compared to analysts' expectations of $1.72 billion. Garmin had a return on equity of 20.07% and a net margin of 23.26%.The business's quarterly revenue was up 14.0% on a year-over-year basis. During the same period last year, the firm earned $1.61 earnings per share. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. Sell-side analysts anticipate that Garmin Ltd. will post 9.53 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
A number of equities research analysts have commented on the company. JPMorgan Chase & Co. raised their price target on Garmin from $265.00 to $285.00 and gave the company a "neutral" rating in a report on Thursday, April 16th. Tigress Financial raised their price target on Garmin from $320.00 to $325.00 and gave the company a "strong-buy" rating in a report on Wednesday, May 20th. Wall Street Zen raised Garmin from a "hold" rating to a "buy" rating in a report on Saturday. Barclays reduced their target price on Garmin from $240.00 to $238.00 and set an "equal weight" rating on the stock in a report on Thursday, April 30th. Finally, Zacks Research cut Garmin from a "strong-buy" rating to a "hold" rating in a report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Garmin presently has a consensus rating of "Moderate Buy" and a consensus price target of $269.40.
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Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Groupe la Francaise grew its position in Garmin by 346.4% in the first quarter. Groupe la Francaise now owns 125 shares of the scientific and technical instruments company's stock worth $29,000 after acquiring an additional 97 shares in the last quarter. Reflection Asset Management purchased a new position in Garmin in the fourth quarter worth about $32,000. Archer Investment Corp purchased a new position in Garmin in the first quarter worth about $37,000. Atlas Capital Advisors Inc. purchased a new position in Garmin in the fourth quarter worth about $34,000. Finally, Cassaday & Co Wealth Management LLC purchased a new position in Garmin in the first quarter worth about $44,000. Hedge funds and other institutional investors own 81.60% of the company's stock.
Garmin Company Profile
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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.
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