Douglas Boessen Sells 2,000 Shares of Garmin (NYSE:GRMN) Stock

Garmin Ltd. (NYSE:GRMN) CFO Douglas Boessen sold 2,000 shares of the business’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $237.91, for a total value of $475,820.00. Following the sale, the chief financial officer owned 26,049 shares in the company, valued at $6,197,317.59. The trade was a 7.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Garmin Stock Performance

Shares of GRMN stock opened at $232.13 on Thursday. Garmin Ltd. has a fifty-two week low of $186.67 and a fifty-two week high of $273.32. The firm has a market capitalization of $44.77 billion, a price-to-earnings ratio of 25.88, a PEG ratio of 2.81 and a beta of 0.91. The stock’s 50-day simple moving average is $244.88 and its 200-day simple moving average is $226.40.

Garmin (NYSE:GRMN) last issued its quarterly earnings results on Wednesday, April 29th. The scientific and technical instruments company reported $2.08 earnings per share for the quarter, topping 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 business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same quarter in the previous year, the firm earned $1.61 earnings per share. The company’s revenue was up 14.0% on a year-over-year basis. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. As a group, equities analysts forecast that Garmin Ltd. will post 9.53 earnings per share for the current year.

Wall Street Analyst Weigh In

GRMN has been the subject of a number of research reports. Morgan Stanley set a $249.00 target price on Garmin in a report on Thursday, April 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Garmin in a report on Monday. Tigress Financial lifted their target price on Garmin from $320.00 to $325.00 and gave the stock a “strong-buy” rating in a report on Wednesday, May 20th. Zacks Research downgraded Garmin from a “strong-buy” rating to a “hold” rating in a report on Friday, May 1st. Finally, JPMorgan Chase & Co. lifted their target price on Garmin from $265.00 to $285.00 and gave the stock a “neutral” rating in a report on Thursday, April 16th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $269.40.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in Garmin by 2.5% during the third quarter. Vanguard Group Inc. now owns 20,197,564 shares of the scientific and technical instruments company’s stock valued at $4,973,044,000 after acquiring an additional 499,235 shares in the last quarter. State Street Corp raised its position in Garmin by 1.8% during the third quarter. State Street Corp now owns 7,250,844 shares of the scientific and technical instruments company’s stock valued at $1,785,304,000 after acquiring an additional 126,677 shares in the last quarter. Norges Bank purchased a new position in Garmin during the fourth quarter valued at approximately $395,234,000. Northern Trust Corp raised its position in Garmin by 3.8% during the fourth quarter. Northern Trust Corp now owns 1,719,677 shares of the scientific and technical instruments company’s stock valued at $348,836,000 after acquiring an additional 63,283 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Garmin by 2.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,631,843 shares of the scientific and technical instruments company’s stock valued at $378,540,000 after acquiring an additional 40,474 shares in the last quarter. 81.60% of the stock is currently owned by hedge funds and other 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.