Garmin (NYSE:GRMN) Reaches New 1-Year High – Still a Buy?

Garmin Ltd. (NYSE:GRMN) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $261.81 and last traded at $261.8290, with a volume of 331620 shares trading hands. The stock had previously closed at $256.89.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Garmin in a report on Thursday, January 22nd. Tigress Financial boosted their price target on Garmin from $310.00 to $320.00 and gave the company a “strong-buy” rating in a report on Friday, February 20th. Barclays set a $240.00 price target on Garmin in a report on Thursday, February 19th. Zacks Research upgraded Garmin from a “hold” rating to a “strong-buy” rating in a report on Monday, February 23rd. Finally, JPMorgan Chase & Co. upped their target price on Garmin from $250.00 to $265.00 and gave the stock a “neutral” rating in a report on Thursday, February 19th. Two research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $254.00.

Garmin Price Performance

The business has a fifty day simple moving average of $233.60 and a two-hundred day simple moving average of $222.08. The company has a market cap of $50.40 billion, a PE ratio of 30.45, a price-to-earnings-growth ratio of 3.08 and a beta of 0.96.

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

Garmin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 26th. Shareholders of record on Friday, March 12th will be issued a dividend of $1.05 per share. The ex-dividend date is Friday, March 12th. This represents a $4.20 dividend on an annualized basis and a yield of 1.6%. Garmin’s dividend payout ratio is currently 41.86%.

Insider Activity at Garmin

In other news, EVP Matthew Munn sold 5,275 shares of the company’s stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $250.97, for a total transaction of $1,323,866.75. Following the transaction, the executive vice president directly owned 9,876 shares of the company’s stock, valued at approximately $2,478,579.72. This represents a 34.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Douglas G. Boessen sold 3,487 shares of the company’s stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $251.66, for a total value of $877,538.42. Following the transaction, the chief financial officer directly owned 28,049 shares in the company, valued at approximately $7,058,811.34. The trade was a 11.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 40,725 shares of company stock valued at $10,213,222 over the last 90 days. Insiders own 19.54% of the company’s stock.

Hedge Funds Weigh In On Garmin

A number of large investors have recently made changes to their positions in GRMN. Reflection Asset Management acquired a new position in shares of Garmin during the fourth quarter worth $32,000. Richardson Financial Services Inc. increased its position in shares of 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 in the last quarter. Atlas Capital Advisors Inc. acquired a new position in shares of Garmin during the fourth quarter worth $34,000. Cornerstone Planning Group LLC increased its position 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 in the last quarter. Finally, GraniteShares Advisors LLC acquired a new position in shares of Garmin during the fourth quarter worth $41,000. 81.60% of the stock is owned by institutional investors and hedge funds.

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.