Douglas Boessen Sells 3,487 Shares of Garmin (NYSE:GRMN) Stock

Garmin Ltd. (NYSE:GRMN) CFO Douglas Boessen sold 3,487 shares of the company’s stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $251.66, for a total transaction of $877,538.42. Following the completion of the transaction, 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 legal filing with the SEC, which is accessible through the SEC website.

Garmin Stock Performance

Garmin stock traded down $1.74 during trading hours on Friday, hitting $252.42. The company had a trading volume of 1,704,930 shares, compared to its average volume of 1,076,090. The firm has a market cap of $48.59 billion, a P/E ratio of 29.35, a P/E/G ratio of 3.02 and a beta of 1.00. The company has a 50-day moving average price of $213.48 and a two-hundred day moving average price of $221.37. Garmin Ltd. has a 1 year low of $169.26 and a 1 year high of $261.69.

Garmin (NYSE:GRMN) last announced its quarterly earnings data on Wednesday, February 18th. The scientific and technical instruments company reported $2.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.39 by $0.40. The company had revenue of $2.12 billion for the quarter, compared to analysts’ expectations of $2.01 billion. Garmin had a return on equity of 19.64% and a net margin of 22.96%.Garmin’s revenue was up 16.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.41 earnings per share. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. As a group, equities research analysts anticipate that Garmin Ltd. will post 7.8 EPS for the current year.

Garmin Announces Dividend

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

Wall Street Analyst Weigh In

GRMN has been the subject of several recent research reports. JPMorgan Chase & Co. boosted their price target 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 upgraded shares of Garmin from a “hold” rating to a “strong-buy” rating in a report on Monday. Weiss Ratings reiterated a “buy (b)” rating on shares of Garmin in a research note on Thursday, January 22nd. Tigress Financial raised their target price on shares of Garmin from $310.00 to $320.00 and gave the company a “strong-buy” rating in a research note on Friday, February 20th. Finally, Morgan Stanley increased their price objective on Garmin from $193.00 to $195.00 and gave the company an “underweight” rating in a report on Thursday, October 30th. 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 given a Sell rating to the stock. According to MarketBeat.com, Garmin has a consensus rating of “Moderate Buy” and a consensus price target of $254.00.

Institutional Trading of Garmin

Institutional investors and hedge funds have recently modified their holdings of the stock. Quaker Wealth Management LLC raised its position in Garmin by 200.0% in the second quarter. Quaker Wealth Management LLC now owns 132 shares of the scientific and technical instruments company’s stock valued at $28,000 after purchasing an additional 264 shares during the period. Richardson Financial Services Inc. raised its holdings in shares of Garmin by 62.2% in the 3rd quarter. Richardson Financial Services Inc. now owns 133 shares of the scientific and technical instruments company’s stock valued at $33,000 after buying an additional 51 shares during the period. Cornerstone Planning Group LLC raised its holdings in shares of Garmin by 788.9% in the 3rd quarter. Cornerstone Planning Group LLC now owns 160 shares of the scientific and technical instruments company’s stock valued at $39,000 after buying an additional 142 shares during the period. Atlas Capital Advisors Inc. acquired a new position in Garmin during the 4th quarter worth about $34,000. Finally, Tradewinds Capital Management LLC acquired a new position in Garmin during the 3rd quarter worth about $44,000. Hedge funds and other 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.