Garmin (NYSE:GRMN) CEO Clifton Pemble Sells 4,029 Shares

Garmin Ltd. (NYSE:GRMN) CEO Clifton Pemble sold 4,029 shares of Garmin stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $300.00, for a total transaction of $1,208,700.00. Following the transaction, the chief executive officer directly owned 120,127 shares of the company’s stock, valued at approximately $36,038,100. This trade represents a 3.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Garmin Stock Performance

NYSE GRMN traded down $2.38 during mid-day trading on Friday, reaching $295.17. 1,168,106 shares of the stock were exchanged, compared to its average volume of 919,004. The business’s 50 day moving average is $241.94 and its 200-day moving average is $236.69. Garmin Ltd. has a 1 year low of $186.67 and a 1 year high of $304.00. The company has a market capitalization of $56.93 billion, a P/E ratio of 30.43, a P/E/G ratio of 3.48 and a beta of 0.90.

Garmin (NYSE:GRMN) last released its quarterly earnings results on Wednesday, July 29th. The scientific and technical instruments company reported $2.81 EPS for the quarter, beating the consensus estimate of $2.30 by $0.51. Garmin had a net margin of 24.47% and a return on equity of 20.95%. The company had revenue of $2.02 billion for the quarter, compared to analyst estimates of $1.93 billion. During the same quarter last year, the business earned $2.17 earnings per share. The firm’s revenue was up 11.4% on a year-over-year basis. Garmin has set its FY 2026 guidance at 10.000-10.000 EPS. Equities analysts predict that Garmin Ltd. will post 9.53 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Garmin

Several institutional investors have recently bought and sold shares of the company. Westmount Partners LLC increased its holdings in shares of Garmin by 1.9% in the first quarter. Westmount Partners LLC now owns 2,205 shares of the scientific and technical instruments company’s stock worth $512,000 after acquiring an additional 42 shares in the last quarter. Caldwell Trust Co lifted its holdings in shares of Garmin by 4.4% during the 1st quarter. Caldwell Trust Co now owns 1,023 shares of the scientific and technical instruments company’s stock valued at $237,000 after purchasing an additional 43 shares in the last quarter. HHM Wealth Advisors LLC lifted its holdings in shares of Garmin by 6.9% during the 1st quarter. HHM Wealth Advisors LLC now owns 698 shares of the scientific and technical instruments company’s stock valued at $162,000 after purchasing an additional 45 shares in the last quarter. Fulton Bank N.A. grew its position in shares of Garmin by 2.9% in the 1st quarter. Fulton Bank N.A. now owns 1,672 shares of the scientific and technical instruments company’s stock valued at $388,000 after purchasing an additional 47 shares during the period. Finally, S.A. Mason LLC increased its stake in Garmin by 2.4% during the 4th quarter. S.A. Mason LLC now owns 2,150 shares of the scientific and technical instruments company’s stock worth $436,000 after purchasing an additional 50 shares in the last quarter. 81.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have commented on GRMN. Barclays raised their price objective on Garmin from $238.00 to $297.00 and gave the company an “equal weight” rating in a report on Thursday. Zacks Research downgraded Garmin from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. Tigress Financial increased their target price on Garmin from $320.00 to $325.00 and gave the company a “strong-buy” rating in a research report on Wednesday, May 20th. Weiss Ratings reissued a “buy (b)” rating on shares of Garmin in a research note on Monday, June 8th. Finally, Morgan Stanley boosted their price target on shares of Garmin from $249.00 to $289.00 and gave the stock an “equal weight” rating in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Garmin currently has an average rating of “Moderate Buy” and a consensus target price of $289.20.

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.