Shares of Garmin Ltd. (NYSE:GRMN – Get Free Report) have been given a consensus rating of “Moderate Buy” by the seven research firms that are presently covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $310.1667.
Several research firms have recently commented on GRMN. Zacks Research upgraded Garmin from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 31st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Garmin in a report on Monday, June 8th. Morgan Stanley boosted their target price on shares of Garmin from $249.00 to $289.00 and gave the company an “equal weight” rating in a research note on Thursday, July 30th. Tigress Financial reissued a “strong-buy” rating on shares of Garmin in a report on Thursday. Finally, Barclays raised their price target on shares of Garmin from $238.00 to $297.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 30th.
View Our Latest Stock Report on GRMN
Garmin Stock Performance
Garmin (NYSE:GRMN – Get Free Report) last announced its earnings results on Wednesday, July 29th. The scientific and technical instruments company reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.51. The business had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $1.93 billion. Garmin had a net margin of 24.47% and a return on equity of 20.95%. The business’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.17 earnings per share. Garmin has set its FY 2026 guidance at 10.000-10.000 EPS. Analysts predict that Garmin will post 10.1 earnings per share for the current year.
Insider Activity
In other Garmin news, CFO Douglas G. Boessen sold 2,000 shares of the firm’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $237.91, for a total value of $475,820.00. Following the transaction, the chief financial officer owned 26,049 shares of the company’s stock, valued at $6,197,317.59. This trade represents a 7.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Joshua H. Maxfield sold 1,152 shares of Garmin stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $291.13, for a total value of $335,381.76. Following the completion of the transaction, the vice president owned 15,042 shares of the company’s stock, valued at approximately $4,379,177.46. The trade was a 7.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 8,810 shares of company stock valued at $2,478,157 over the last quarter. Corporate insiders own 14.80% of the company’s stock.
Institutional Investors Weigh In On Garmin
A number of hedge funds have recently added to or reduced their stakes in the stock. Westmount Partners LLC lifted its position in shares of Garmin by 1.9% in the 1st quarter. Westmount Partners LLC now owns 2,205 shares of the scientific and technical instruments company’s stock worth $512,000 after purchasing an additional 42 shares during the period. Caldwell Trust Co boosted its position in shares of Garmin by 4.4% during the first quarter. Caldwell Trust Co now owns 1,023 shares of the scientific and technical instruments company’s stock valued at $237,000 after purchasing an additional 43 shares in the last quarter. HHM Wealth Advisors LLC grew its stake in Garmin by 6.9% in the first quarter. HHM Wealth Advisors LLC now owns 698 shares of the scientific and technical instruments company’s stock worth $162,000 after purchasing an additional 45 shares during the period. Fulton Bank N.A. grew its stake in Garmin by 2.9% in the first quarter. Fulton Bank N.A. now owns 1,672 shares of the scientific and technical instruments company’s stock worth $388,000 after purchasing an additional 47 shares during the period. Finally, S.A. Mason LLC grew its position in shares of Garmin by 2.4% in the 4th quarter. S.A. Mason LLC now owns 2,150 shares of the scientific and technical instruments company’s stock worth $436,000 after buying an additional 50 shares during the period. 81.60% of the stock is currently owned by institutional investors.
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.
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