Garmin (NYSE:GRMN) VP Joshua Maxfield Sells 1,152 Shares

Key Points

• Garmin VP Joshua Maxfield sold 1,152 shares at an average price of $291.13, generating proceeds of approximately $335,382. His remaining stake totals 15,042 shares, a 7.11% reduction in ownership.
• Garmin reported a strong quarterly performance, with EPS of $2.81 beating estimates by $0.51 and revenue of $2.02 billion surpassing expectations. Revenue increased 11.4% year over year, while net margin reached 24.47%.
• Shares traded near $295.17, close to the company’s 52-week high of $304.00. Analysts give Garmin a “Moderate Buy” consensus rating, with an average price target of $289.20, while institutional investors own 81.6% of the stock.

Garmin Ltd. (NYSE:GRMN - Get Free Report) VP Joshua Maxfield sold 1,152 shares of the company's stock in a transaction on Friday, July 31st. The shares were sold at an average price of $291.13, for a total value of $335,381.76. Following the completion of the sale, the vice president owned 15,042 shares in the company, valued at $4,379,177.46. This represents a 7.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Garmin Stock Performance

Garmin stock traded down $2.38 during midday trading on Friday, reaching $295.17. 1,168,106 shares of the company were exchanged, compared to its average volume of 919,004. The company has a market capitalization of $56.93 billion, a price-to-earnings ratio of 30.43, a P/E/G ratio of 3.48 and a beta of 0.90. The firm's 50-day simple moving average is $241.94 and its 200-day simple moving average is $236.69. Garmin Ltd. has a 1 year low of $186.67 and a 1 year high of $304.00.

Garmin (NYSE:GRMN - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The scientific and technical instruments company reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.51. The company had revenue of $2.02 billion for the quarter, compared to analysts' expectations of $1.93 billion. Garmin had a net margin of 24.47% and a return on equity of 20.95%. The firm's revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period last year, the company earned $2.17 EPS. Garmin has set its FY 2026 guidance at 10.000-10.000 EPS. On average, analysts forecast that Garmin Ltd. will post 9.53 EPS for the current fiscal year.

Wall Street Analyst Weigh In

GRMN has been the subject of several recent analyst reports. Zacks Research cut shares of Garmin from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 1st. Barclays lifted their price objective on Garmin from $238.00 to $297.00 and gave the company an "equal weight" rating in a research report on Thursday. JPMorgan Chase & Co. upped their target price on Garmin from $265.00 to $285.00 and gave the company a "neutral" rating in a research note on Thursday, April 16th. Weiss Ratings reiterated a "buy (b)" rating on shares of Garmin in a research report on Monday, June 8th. Finally, Tigress Financial raised their price target on Garmin from $320.00 to $325.00 and gave the stock a "strong-buy" rating in a research note on Wednesday, May 20th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, Garmin has an average rating of "Moderate Buy" and an average price target of $289.20.

Hedge Funds Weigh In On Garmin

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Groupe la Francaise raised its stake in Garmin by 346.4% during the first quarter. Groupe la Francaise now owns 125 shares of the scientific and technical instruments company's stock worth $29,000 after purchasing an additional 97 shares during the period. Reflection Asset Management purchased a new stake in shares of Garmin during the 4th quarter valued at $32,000. Atlas Capital Advisors Inc. acquired a new stake in shares of Garmin during the 4th quarter worth $34,000. Archer Investment Corp acquired a new stake in shares of Garmin during the 1st quarter worth $37,000. Finally, GraniteShares Advisors LLC purchased a new position in shares of Garmin in the 4th quarter worth $41,000. Institutional investors and hedge funds 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.

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