Garmin Ltd. (NYSE:GRMN) Short Interest Update

Garmin Ltd. (NYSE:GRMN) was the recipient of a large decrease in short interest during the month of February. As of February 27th, there was short interest totaling 3,069,705 shares, a decrease of 23.9% from the February 12th total of 4,031,945 shares. Currently, 2.0% of the shares of the company are sold short. Based on an average daily volume of 1,506,230 shares, the days-to-cover ratio is presently 2.0 days. Based on an average daily volume of 1,506,230 shares, the days-to-cover ratio is presently 2.0 days. Currently, 2.0% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on GRMN. Tigress Financial boosted their price target on Garmin from $310.00 to $320.00 and gave the company a “strong-buy” rating in a research note on Friday, February 20th. Barclays set a $240.00 price objective on Garmin in a research report on Thursday, February 19th. Zacks Research upgraded Garmin from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 23rd. JPMorgan Chase & Co. upped their target price on Garmin from $250.00 to $265.00 and gave the company a “neutral” rating in a research note on Thursday, February 19th. Finally, Longbow Research raised Garmin from a “neutral” rating to a “buy” rating and set a $250.00 target price for the company in a research report on Wednesday, December 3rd. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $254.00.

Garmin Trading Down 0.9%

NYSE:GRMN traded down $2.19 during mid-day trading on Friday, hitting $233.55. The company’s stock had a trading volume of 424,054 shares, compared to its average volume of 1,177,563. The company has a market capitalization of $44.95 billion, a price-to-earnings ratio of 27.16, a P/E/G ratio of 2.82 and a beta of 0.94. Garmin has a fifty-two week low of $169.26 and a fifty-two week high of $261.69. The stock has a fifty day moving average of $221.24 and a 200-day moving average of $222.06.

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

Garmin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 26th. Investors of record on Friday, March 12th will be given a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Friday, March 12th. Garmin’s dividend payout ratio (DPR) is 41.86%.

Insider Transactions at Garmin

In other Garmin news, EVP Matthew Munn sold 5,275 shares of the firm’s stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $250.97, for a total value of $1,323,866.75. Following the sale, the executive vice president directly owned 9,876 shares in the company, valued at $2,478,579.72. This trade represents a 34.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Patrick Desbois sold 6,694 shares of the business’s stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $251.65, for a total transaction of $1,684,545.10. Following the transaction, the chief operating officer owned 58,540 shares in the company, valued at approximately $14,731,591. The trade was a 10.26% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 57,319 shares of company stock worth $13,650,815. 15.38% of the stock is currently owned by insiders.

Institutional Trading of Garmin

A number of large investors have recently bought and sold shares of the stock. Reflection Asset Management bought a new stake in shares of Garmin during the fourth quarter worth $32,000. Richardson Financial Services Inc. raised its holdings in shares of Garmin by 62.2% in the third 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 last quarter. Atlas Capital Advisors Inc. bought a new position in shares of Garmin in the fourth quarter valued at about $34,000. Cornerstone Planning Group LLC lifted its position in Garmin by 788.9% during the 3rd quarter. Cornerstone Planning Group LLC now owns 160 shares of the scientific and technical instruments company’s stock worth $39,000 after buying an additional 142 shares in the last quarter. Finally, GraniteShares Advisors LLC bought a new stake in Garmin during the 4th quarter worth about $41,000. 81.60% of the stock is currently owned by institutional investors.

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.