Garmin (NYSE:GRMN) CFO Sells $512,556.10 in Stock

Garmin Ltd. (NYSE:GRMN) CFO Douglas Boessen sold 2,485 shares of Garmin stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $206.26, for a total value of $512,556.10. Following the completion of the sale, the chief financial officer directly owned 28,916 shares of the company’s stock, valued at $5,964,214.16. The trade was a 7.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Garmin Stock Performance

Shares of NYSE:GRMN opened at $201.41 on Friday. Garmin Ltd. has a 52-week low of $169.26 and a 52-week high of $261.69. The stock has a market capitalization of $38.74 billion, a price-to-earnings ratio of 24.80, a PEG ratio of 2.29 and a beta of 1.01. The stock’s 50-day simple moving average is $212.64 and its two-hundred day simple moving average is $222.18.

Garmin (NYSE:GRMN) last announced its earnings results on Wednesday, October 29th. The scientific and technical instruments company reported $1.99 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.99. The company had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.78 billion. Garmin had a net margin of 22.63% and a return on equity of 19.42%. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.99 earnings per share. Garmin has set its FY 2025 guidance at 8.150-8.150 EPS. As a group, equities analysts forecast that Garmin Ltd. will post 7.8 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GRMN. Morgan Stanley increased their price target on Garmin from $193.00 to $195.00 and gave the stock an “underweight” rating in a research note on Thursday, October 30th. Longbow Research raised Garmin from a “neutral” rating to a “buy” rating and set a $250.00 price target on the stock in a report on Wednesday, December 3rd. Barclays upped their price target on Garmin from $167.00 to $208.00 and gave the stock an “underweight” rating in a research note on Thursday, October 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of Garmin in a research report on Wednesday, October 8th. Finally, Tigress Financial restated a “strong-buy” rating on shares of Garmin in a research report on Friday. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $242.60.

Hedge Funds Weigh In On Garmin

Institutional investors and hedge funds have recently modified their holdings of the stock. Quaker Wealth Management LLC raised its holdings in Garmin by 200.0% during the 2nd quarter. Quaker Wealth Management LLC now owns 132 shares of the scientific and technical instruments company’s stock valued at $28,000 after buying an additional 264 shares during the period. Groupe la Francaise purchased a new stake in shares of Garmin in the first quarter valued at $33,000. Richardson Financial Services Inc. lifted its holdings in shares of Garmin by 62.2% in the 3rd quarter. Richardson Financial Services Inc. now owns 133 shares of the scientific and technical instruments company’s stock worth $33,000 after acquiring an additional 51 shares during the last quarter. Cornerstone Planning Group LLC boosted its stake in shares of 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 purchasing an additional 142 shares during the period. Finally, Tradewinds Capital Management LLC purchased a new position in shares of Garmin during the 3rd quarter worth about $44,000. 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.