Garmin (NYSE:GRMN) Reaches New 1-Year High – Should You Buy?

Garmin Ltd. (NYSE:GRMN) shares reached a new 52-week high during mid-day trading on Monday . The company traded as high as $273.32 and last traded at $266.8430, with a volume of 956051 shares changing hands. The stock had previously closed at $267.42.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on GRMN. Barclays set a $240.00 target price on shares of Garmin in a research note on Thursday, February 19th. JPMorgan Chase & Co. lifted their price target on shares of Garmin from $265.00 to $285.00 and gave the stock a “neutral” rating in a research note on Thursday. Tigress Financial boosted their price objective on shares of Garmin from $310.00 to $320.00 and gave the stock a “strong-buy” rating in a report on Friday, February 20th. Zacks Research raised shares of Garmin from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 23rd. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Garmin in a research note on Thursday, January 22nd. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Garmin has an average rating of “Moderate Buy” and an average target price of $258.00.

Garmin Stock Performance

The company has a market capitalization of $51.41 billion, a PE ratio of 31.06, a PEG ratio of 3.20 and a beta of 0.96. The company has a 50 day moving average price of $239.79 and a 200 day moving average price of $222.78.

Garmin (NYSE:GRMN) last issued its quarterly earnings results on Wednesday, February 18th. The scientific and technical instruments company reported $2.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.39 by $0.40. The business had revenue of $2.12 billion during the quarter, compared to analyst estimates of $2.01 billion. Garmin had a net margin of 22.96% and a return on equity of 19.64%. The business’s revenue was up 16.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.41 earnings per share. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. On average, equities analysts forecast that Garmin Ltd. will post 7.8 earnings per share for the current fiscal year.

Garmin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 26th. Stockholders of record on Friday, March 12th will be given a $1.05 dividend. The ex-dividend date of this dividend is Friday, March 12th. This represents a $4.20 annualized dividend and a dividend yield of 1.6%. Garmin’s payout ratio is presently 48.84%.

Insiders Place Their Bets

In related news, CFO Douglas G. Boessen sold 3,487 shares of the business’s stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $251.66, for a total value of $877,538.42. Following the completion of the sale, the chief financial officer directly owned 28,049 shares of the company’s stock, valued at $7,058,811.34. The trade was a 11.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Clifton A. Pemble sold 19,914 shares of the company’s stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $251.58, for a total value of $5,009,964.12. Following the sale, the chief executive officer owned 124,075 shares in the company, valued at $31,214,788.50. The trade was a 13.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 40,725 shares of company stock worth $10,213,222. Company insiders own 15.38% of the company’s stock.

Institutional Investors Weigh In On Garmin

A number of institutional investors have recently made changes to their positions in the company. Richardson Financial Services Inc. lifted its stake in Garmin by 62.2% during the third quarter. Richardson Financial Services Inc. now owns 133 shares of the scientific and technical instruments company’s stock worth $33,000 after purchasing an additional 51 shares during the last quarter. Reflection Asset Management acquired a new stake in shares of Garmin during the fourth quarter worth $32,000. Cornerstone Planning Group LLC raised its holdings in shares of Garmin by 788.9% during the third 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. Atlas Capital Advisors Inc. bought a new position in shares of Garmin in the 4th quarter worth about $34,000. Finally, Tradewinds Capital Management LLC bought a new position in shares of Garmin in the 3rd quarter worth about $44,000. 81.60% of the stock is currently owned by 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.