Insider Selling: Garmin (NYSE:GRMN) Insider Sells $2,975,937.76 in Stock

Garmin Ltd. (NYSE:GRMN – Get Free Report) insider Cheng-Wei Wang sold 9,941 shares of the stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $299.36, for a total transaction of $2,975,937.76. Following the completion of the sale, the insider owned 29,506 shares of the company’s stock, valued at approximately $8,832,916.16. This represents a 25.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Garmin Trading Up 0.6%

GRMN stock opened at $294.87 on Friday. The firm has a market capitalization of $56.87 billion, a PE ratio of 30.40, a PEG ratio of 3.30 and a beta of 0.87. Garmin Ltd. has a 1-year low of $186.67 and a 1-year high of $314.28. The business’s 50 day simple moving average is $263.21 and its 200 day simple moving average is $247.31.

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Garmin (NYSE:GRMN – Get Free Report) last released its quarterly 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. Garmin had a net margin of 24.47% and a return on equity of 20.95%. The firm had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $1.93 billion. During the same period in the prior year, the firm earned $2.17 EPS. The business’s revenue was up 11.4% on a year-over-year basis. Garmin has set its FY 2026 guidance at 10.000-10.000 EPS. As a group, sell-side analysts predict that Garmin Ltd. will post 10.08 EPS for the current fiscal year.

Institutional Investors Weigh In On Garmin

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. State Street Corp increased its stake in shares of Garmin by 1.8% in 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 buying an additional 126,677 shares during the period. Norges Bank acquired a new stake in Garmin during the 4th quarter worth approximately $395,234,000. Northern Trust Corp boosted its position in Garmin by 3.8% during the 4th quarter. Northern Trust Corp now owns 1,719,677 shares of the scientific and technical instruments company’s stock worth $348,836,000 after buying an additional 63,283 shares during the period. Dimensional Fund Advisors LP grew its holdings in Garmin by 2.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,631,843 shares of the scientific and technical instruments company’s stock worth $378,540,000 after acquiring an additional 40,474 shares during the last quarter. Finally, Disciplined Growth Investors Inc. MN grew its holdings in Garmin by 0.4% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 1,419,365 shares of the scientific and technical instruments company’s stock worth $296,250,000 after acquiring an additional 5,213 shares during the last quarter. Institutional investors own 81.60% of the company’s stock.

Wall Street Analyst Weigh In

GRMN has been the subject of a number of recent analyst reports. UBS Group set a $370.00 price target on shares of Garmin in a report on Thursday, August 6th. Weiss Ratings restated a “buy (b)” rating on shares of Garmin in a research report on Monday, June 8th. Morgan Stanley boosted their price objective on shares of Garmin from $249.00 to $289.00 and gave the company an “equal weight” rating in a research report on Thursday, July 30th. Zacks Research upgraded Garmin from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 31st. Finally, Tigress Financial reaffirmed a “strong-buy” rating on shares of Garmin in a report on Thursday, August 6th. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $310.17.

View Our Latest Stock Analysis on GRMN

About Garmin

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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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