Garmin (NYSE:GRMN) Director Joseph Hartnett Sells 643 Shares

Garmin Ltd. (NYSE:GRMN) Director Joseph Hartnett sold 643 shares of the stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $263.57, for a total value of $169,475.51. Following the sale, the director owned 21,277 shares in the company, valued at approximately $5,607,978.89. This represents a 2.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Garmin Trading Up 1.1%

Shares of GRMN opened at $237.86 on Wednesday. The business’s fifty day simple moving average is $244.76 and its two-hundred day simple moving average is $226.09. Garmin Ltd. has a 12 month low of $186.67 and a 12 month high of $273.32. The company has a market cap of $45.87 billion, a price-to-earnings ratio of 26.52, a P/E/G ratio of 2.78 and a beta of 0.91.

Garmin (NYSE:GRMN) last released its quarterly earnings results on Wednesday, April 29th. The scientific and technical instruments company reported $2.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.84 by $0.24. The firm had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.72 billion. Garmin had a return on equity of 20.07% and a net margin of 23.26%.The company’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same period last year, the business posted $1.61 EPS. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. As a group, research analysts forecast that Garmin Ltd. will post 9.53 EPS for the current year.

Hedge Funds Weigh In On Garmin

A number of institutional investors have recently bought and sold shares of the stock. Westmount Partners LLC raised its holdings in 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 raised its holdings in Garmin by 4.4% in the 1st quarter. Caldwell Trust Co now owns 1,023 shares of the scientific and technical instruments company’s stock worth $237,000 after purchasing an additional 43 shares during the period. HHM Wealth Advisors LLC raised its holdings in Garmin by 6.9% in the 1st 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. raised its holdings in Garmin by 2.9% in the 1st 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, Daymark Wealth Partners LLC raised its holdings in Garmin by 0.7% in the 4th quarter. Daymark Wealth Partners LLC now owns 6,813 shares of the scientific and technical instruments company’s stock worth $1,382,000 after purchasing an additional 48 shares during the period. 81.60% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on GRMN. Wall Street Zen upgraded Garmin from a “hold” rating to a “buy” rating in a research note on Saturday. Morgan Stanley set a $249.00 price target on Garmin in a research note on Thursday, April 30th. Weiss Ratings restated a “buy (b)” rating on shares of Garmin in a research note on Monday. Barclays dropped their price target on Garmin from $240.00 to $238.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 30th. Finally, JPMorgan Chase & Co. raised their price target on Garmin from $265.00 to $285.00 and gave the stock a “neutral” rating in a research note on Thursday, April 16th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, Garmin presently has a consensus rating of “Moderate Buy” and a consensus target price of $269.40.

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.