Insider Selling: Garmin (NYSE:GRMN) CEO Sells $1,208,700.00 in Stock

Garmin Ltd. (NYSE:GRMN) CEO Clifton Pemble sold 4,029 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief executive officer owned 120,127 shares in the company, valued at $36,038,100. This represents a 3.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Garmin Stock Down 0.8%

Shares of NYSE GRMN traded down $2.38 during trading hours on Friday, hitting $295.17. 1,168,106 shares of the stock were exchanged, compared to its average volume of 919,004. Garmin Ltd. has a 12 month low of $186.67 and a 12 month high of $304.00. The firm has a fifty day moving average price of $241.94 and a 200-day moving average price of $236.69. The company has a market cap of $56.93 billion, a PE ratio of 30.43, a PEG 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.51. The business had revenue of $2.02 billion for the quarter, compared to analyst estimates of $1.93 billion. Garmin had a net margin of 24.47% and a return on equity of 20.95%. The business’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same period in the previous year, the company earned $2.17 earnings per share. Garmin has set its FY 2026 guidance at 10.000-10.000 EPS. As a group, equities analysts anticipate that Garmin Ltd. will post 9.53 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Institutional Trading of Garmin

Several large investors have recently added to or reduced their stakes in GRMN. GSA Capital Partners LLP acquired a new stake in Garmin during the 4th quarter worth about $979,000. Commerzbank Aktiengesellschaft FI lifted its holdings in shares of Garmin by 282.5% in the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 6,518 shares of the scientific and technical instruments company’s stock valued at $1,322,000 after buying an additional 4,814 shares during the period. Generali Asset Management SPA SGR boosted its stake in shares of Garmin by 8,727.4% in the fourth quarter. Generali Asset Management SPA SGR now owns 9,357 shares of the scientific and technical instruments company’s stock worth $1,898,000 after buying an additional 9,251 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Garmin by 121.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 107,929 shares of the scientific and technical instruments company’s stock worth $25,041,000 after acquiring an additional 59,229 shares during the period. Finally, Westerkirk Capital Inc. grew its holdings in Garmin by 88.2% during the fourth quarter. Westerkirk Capital Inc. now owns 20,700 shares of the scientific and technical instruments company’s stock worth $4,199,000 after acquiring an additional 9,700 shares during the period. Hedge funds and other institutional investors own 81.60% of the company’s stock.

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.