Insider Selling: Garmin (NYSE:GRMN) Director Sells $169,475.51 in Stock

Garmin Ltd. (NYSE:GRMN) Director Joseph Hartnett sold 643 shares of the stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $263.57, for a total value of $169,475.51. Following the completion of the transaction, the director owned 21,277 shares in the company, valued at approximately $5,607,978.89. The trade was a 2.93% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

Garmin Stock Performance

Shares of Garmin stock opened at $238.58 on Friday. Garmin Ltd. has a 52 week low of $186.67 and a 52 week high of $273.32. The stock has a 50 day moving average price of $245.01 and a two-hundred day moving average price of $226.73. The stock has a market capitalization of $46.01 billion, a PE ratio of 26.60, a price-to-earnings-growth ratio of 2.74 and a beta of 0.91.

Garmin (NYSE:GRMN) last announced its quarterly earnings data 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. Garmin had a return on equity of 20.07% and a net margin of 23.26%.The firm had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter last year, the firm posted $1.61 earnings per share. The company’s revenue for the quarter was up 14.0% compared to the same quarter last year. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. Research analysts forecast that Garmin Ltd. will post 9.53 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have commented on GRMN. JPMorgan Chase & Co. raised their price objective on Garmin from $265.00 to $285.00 and gave the company a “neutral” rating in a research note on Thursday, April 16th. Zacks Research cut Garmin from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. Barclays reduced their price objective on Garmin from $240.00 to $238.00 and set an “equal weight” rating for the company in a research note on Thursday, April 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Garmin in a research note on Monday. Finally, Wall Street Zen raised Garmin from a “hold” rating to a “buy” rating in a research note on Saturday, June 6th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $269.40.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. FAS Wealth Partners Inc. boosted its position in shares of Garmin by 1.8% during the first quarter. FAS Wealth Partners Inc. now owns 18,692 shares of the scientific and technical instruments company’s stock valued at $4,337,000 after buying an additional 326 shares during the last quarter. DV Trading LLC boosted its position in shares of Garmin by 125.0% during the first quarter. DV Trading LLC now owns 900 shares of the scientific and technical instruments company’s stock valued at $209,000 after buying an additional 500 shares during the last quarter. Parallel Advisors LLC boosted its position in shares of Garmin by 4.9% during the first quarter. Parallel Advisors LLC now owns 4,819 shares of the scientific and technical instruments company’s stock valued at $1,118,000 after buying an additional 225 shares during the last quarter. NewEdge Advisors LLC boosted its position in shares of Garmin by 0.8% during the first quarter. NewEdge Advisors LLC now owns 6,494 shares of the scientific and technical instruments company’s stock valued at $1,507,000 after buying an additional 52 shares during the last quarter. Finally, Alpine Woods Capital Investors LLC boosted its position in shares of Garmin by 21.1% during the first quarter. Alpine Woods Capital Investors LLC now owns 12,362 shares of the scientific and technical instruments company’s stock valued at $2,868,000 after buying an additional 2,153 shares during the last quarter. 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.