Garmin (NYSE:GRMN) CEO Sells $2,151,185.13 in Stock

Garmin Ltd. (NYSE:GRMN) CEO Clifton Pemble sold 10,431 shares of Garmin stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $206.23, for a total value of $2,151,185.13. Following the sale, the chief executive officer directly owned 135,180 shares of the company’s stock, valued at $27,878,171.40. This represents a 7.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Garmin Stock Down 2.7%

Shares of GRMN stock traded down $5.52 during trading on Wednesday, hitting $201.52. The company had a trading volume of 971,602 shares, compared to its average volume of 942,082. 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 $38.76 billion, a price-to-earnings ratio of 24.82, a price-to-earnings-growth ratio of 2.34 and a beta of 1.01. The stock’s 50-day moving average is $214.67 and its two-hundred day moving average is $222.33.

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, hitting the consensus estimate of $1.99. Garmin had a net margin of 22.63% and a return on equity of 19.42%. The company had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.78 billion. During the same period in the previous year, the business earned $1.99 earnings per share. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. Garmin has set its FY 2025 guidance at 8.150-8.150 EPS. On average, research analysts predict that Garmin Ltd. will post 7.8 EPS for the current fiscal year.

Hedge Funds Weigh In On Garmin

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Brighton Jones LLC grew its holdings in shares of Garmin by 31.3% during the 4th quarter. Brighton Jones LLC now owns 1,943 shares of the scientific and technical instruments company’s stock worth $401,000 after acquiring an additional 463 shares during the period. Kovitz Investment Group Partners LLC grew its stake in Garmin by 12.2% in the first quarter. Kovitz Investment Group Partners LLC now owns 3,382 shares of the scientific and technical instruments company’s stock worth $734,000 after purchasing an additional 369 shares during the period. American Century Companies Inc. raised its holdings in Garmin by 1.2% in the first quarter. American Century Companies Inc. now owns 60,977 shares of the scientific and technical instruments company’s stock worth $13,240,000 after purchasing an additional 697 shares in the last quarter. Cresset Asset Management LLC bought a new position in Garmin in the first quarter worth $231,000. Finally, Algert Global LLC purchased a new position in Garmin during the first quarter valued at $409,000. Hedge funds and other institutional investors own 81.60% of the company’s stock.

Analyst Ratings Changes

GRMN has been the subject of several analyst reports. Barclays upped their price target on shares of Garmin from $167.00 to $208.00 and gave the company an “underweight” rating in a research report on Thursday, October 30th. Morgan Stanley boosted their price objective on Garmin from $193.00 to $195.00 and gave the company an “underweight” rating in a research report on Thursday, October 30th. Longbow Research raised Garmin from a “neutral” rating to a “buy” rating and set a $250.00 price objective for the company in a research note on Wednesday, December 3rd. Tigress Financial lifted their target price on shares of Garmin from $285.00 to $305.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, September 30th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Garmin in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Garmin currently has an average rating of “Hold” and a consensus target price of $241.60.

About Garmin

Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of wireless devices worldwide. Its Fitness segment offers running and multi-sport watches; cycling products; smartwatch devices; scales and monitors; and fitness accessories. This segment also provides Garmin Connect and Garmin Connect Mobile, which are web and mobile platforms where users can track and analyze their fitness, activities and workouts, and wellness data; and Connect IQ, an application development platform.