Garmin (NYSE:GRMN) Price Target Raised to $285.00

Garmin (NYSE:GRMN) had its price target boosted by JPMorgan Chase & Co. from $265.00 to $285.00 in a report released on Thursday,Benzinga reports. The firm currently has a neutral rating on the scientific and technical instruments company’s stock.

A number of other research analysts have also recently commented on GRMN. Zacks Research upgraded shares of Garmin from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 23rd. Tigress Financial increased their price target on shares of Garmin from $310.00 to $320.00 and gave the company a “strong-buy” rating in a research report on Friday, February 20th. Weiss Ratings reiterated a “buy (b)” rating on shares of Garmin in a research report on Thursday, January 22nd. Finally, Barclays set a $240.00 price target on shares of Garmin in a research report on Thursday, February 19th. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $258.00.

Garmin Trading Up 1.1%

GRMN stock opened at $267.33 on Thursday. The company’s 50 day moving average is $239.79 and its 200 day moving average is $223.01. The stock has a market cap of $51.46 billion, a price-to-earnings ratio of 31.09, a price-to-earnings-growth ratio of 3.17 and a beta of 0.96. Garmin has a 1-year low of $178.74 and a 1-year high of $273.32.

Garmin (NYSE:GRMN) last posted its quarterly earnings data on Wednesday, February 18th. The scientific and technical instruments company reported $2.79 earnings per share for the quarter, topping 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 company had revenue of $2.12 billion for the quarter, compared to analysts’ expectations of $2.01 billion. During the same period in the prior year, the business earned $2.41 earnings per share. Garmin’s revenue for the quarter was up 16.6% compared to the same quarter last year. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. As a group, sell-side analysts forecast that Garmin will post 7.8 EPS for the current fiscal year.

Garmin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 26th. Shareholders of record on Friday, March 12th will be given 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 1.6%. Garmin’s dividend payout ratio (DPR) is currently 41.86%.

Insider Buying and Selling at Garmin

In other Garmin news, CFO Douglas G. Boessen sold 3,487 shares of the firm’s stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $251.66, for a total transaction of $877,538.42. Following the completion of the transaction, the chief financial officer owned 28,049 shares of the company’s stock, valued at approximately $7,058,811.34. This trade represents a 11.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Patrick Desbois sold 6,694 shares of the firm’s stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $251.65, for a total value of $1,684,545.10. Following the transaction, the chief operating officer directly owned 58,540 shares of the company’s stock, valued at $14,731,591. This represents a 10.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 40,725 shares of company stock valued at $10,213,222. Company insiders own 15.38% of the company’s stock.

Hedge Funds Weigh In On Garmin

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of 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 increased its holdings in shares of 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 bought a new position in shares of Garmin during the fourth quarter valued at $395,234,000. Northern Trust Corp increased its holdings in shares of 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 increased its holdings in shares of Garmin by 6.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,591,369 shares of the scientific and technical instruments company’s stock valued at $322,837,000 after acquiring an additional 96,850 shares in 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.