Garmin (NYSE:GRMN) CEO Clifton Pemble Sells 19,914 Shares of Stock

Garmin Ltd. (NYSE:GRMN) CEO Clifton Pemble sold 19,914 shares of the firm’s stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $251.58, for a total value of $5,009,964.12. Following the sale, the chief executive officer directly owned 124,075 shares of the company’s stock, valued at $31,214,788.50. The trade was a 13.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Garmin Price Performance

Shares of GRMN 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 stock has a market capitalization of $48.59 billion, a PE ratio of 29.35, a price-to-earnings-growth ratio of 3.02 and a beta of 1.00. The company’s fifty day moving average is $213.48 and its 200 day moving average is $221.37. Garmin Ltd. has a fifty-two week low of $169.26 and a fifty-two week high of $261.69.

Garmin (NYSE:GRMN) last posted its earnings results on Wednesday, February 18th. The scientific and technical instruments company reported $2.79 earnings per share for the quarter, beating the consensus estimate of $2.39 by $0.40. Garmin had a net margin of 22.96% and a return on equity of 19.64%. The firm had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $2.01 billion. During the same quarter last year, the firm earned $2.41 EPS. The firm’s revenue for the quarter was up 16.6% on a year-over-year basis. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. Equities analysts forecast that Garmin Ltd. will post 7.8 earnings per share for the current year.

Garmin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 26th. Investors of record on Friday, March 12th will be paid a dividend of $1.05 per share. The ex-dividend date of this dividend is Friday, March 12th. This represents a $4.20 annualized dividend and a yield of 1.7%. Garmin’s dividend payout ratio is presently 41.86%.

Institutional Trading of Garmin

A number of institutional investors have recently bought and sold shares of the business. Andra AP fonden raised its holdings in shares of Garmin by 87.2% in the second quarter. Andra AP fonden now owns 67,000 shares of the scientific and technical instruments company’s stock valued at $13,984,000 after buying an additional 31,200 shares during the last quarter. Penserra Capital Management LLC increased its position in Garmin by 43.4% in the 3rd quarter. Penserra Capital Management LLC now owns 22,496 shares of the scientific and technical instruments company’s stock valued at $5,538,000 after acquiring an additional 6,806 shares during the period. EFG Asset Management Americas Corp. increased its position in Garmin by 34.1% in the 2nd quarter. EFG Asset Management Americas Corp. now owns 10,455 shares of the scientific and technical instruments company’s stock valued at $2,182,000 after acquiring an additional 2,659 shares during the period. First Horizon Advisors Inc. raised its stake in Garmin by 4.2% during the 2nd quarter. First Horizon Advisors Inc. now owns 121,552 shares of the scientific and technical instruments company’s stock valued at $25,370,000 after acquiring an additional 4,943 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in Garmin by 25.9% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,584 shares of the scientific and technical instruments company’s stock worth $5,314,000 after acquiring an additional 4,437 shares during the period. 81.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on GRMN shares. Longbow Research raised shares of Garmin from a “neutral” rating to a “buy” rating and set a $250.00 price target on the stock in a research report on Wednesday, December 3rd. Barclays set a $240.00 target price on shares of Garmin in a report on Thursday, February 19th. Tigress Financial upped their price objective on Garmin from $310.00 to $320.00 and gave the stock a “strong-buy” rating in a research report on Friday, February 20th. Zacks Research upgraded Garmin from a “hold” rating to a “strong-buy” rating in a report on Monday. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Garmin in a report on Thursday, January 22nd. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Garmin currently has an average rating of “Moderate Buy” and an average target price of $254.00.

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.