Garmin (NYSE:GRMN) CEO Clifton Pemble Sells 10,431 Shares of Stock

by · The Cerbat Gem

Garmin Ltd. (NYSE:GRMN – Get Free Report) CEO Clifton Pemble sold 10,431 shares of the business’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $206.23, for a total value of $2,151,185.13. Following the transaction, the chief executive officer owned 135,180 shares of the company’s stock, valued at approximately $27,878,171.40. The trade was a 7.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Garmin Trading Down 2.7%

Shares of GRMN opened at $201.52 on Thursday. Garmin Ltd. has a 12-month low of $169.26 and a 12-month high of $261.69. The company has a market cap of $38.76 billion, a PE ratio of 24.82, a price-to-earnings-growth ratio of 2.34 and a beta of 1.01. The stock has a 50-day moving average price of $214.67 and a 200-day moving average price of $222.33.

Garmin (NYSE:GRMN – Get Free Report) last announced its earnings results on Wednesday, October 29th. The scientific and technical instruments company reported $1.99 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.99. The business had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.78 billion. Garmin had a net margin of 22.63% and a return on equity of 19.42%. Garmin’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period last year, the firm posted $1.99 earnings per share. Garmin has set its FY 2025 guidance at 8.150-8.150 EPS. As a group, analysts predict that Garmin Ltd. will post 7.8 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on GRMN. Morgan Stanley raised their price target on Garmin from $193.00 to $195.00 and gave the company an “underweight” rating in a research report on Thursday, October 30th. Tigress Financial increased their price target on shares of Garmin from $285.00 to $305.00 and gave the company a “strong-buy” rating in a research report on Tuesday, September 30th. Weiss Ratings restated a “buy (b)” rating on shares of Garmin in a report on Wednesday, October 8th. Longbow Research raised shares of 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. Finally, Barclays lifted their target price on shares of Garmin from $167.00 to $208.00 and gave the stock an “underweight” rating in a research report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Garmin presently has an average rating of “Hold” and an average target price of $241.60.

View Our Latest Research Report on Garmin

Institutional Investors Weigh In On Garmin

Several institutional investors have recently added to or reduced their stakes in the company. Andra AP fonden lifted its position in Garmin by 87.2% during the 2nd quarter. Andra AP fonden now owns 67,000 shares of the scientific and technical instruments company’s stock valued at $13,984,000 after acquiring an additional 31,200 shares during the period. First Horizon Advisors Inc. lifted its holdings in shares of Garmin by 4.2% during the second quarter. First Horizon Advisors Inc. now owns 121,552 shares of the scientific and technical instruments company’s stock valued at $25,370,000 after purchasing an additional 4,943 shares during the last quarter. EFG Asset Management Americas Corp. boosted its position in shares of Garmin by 34.1% in the 2nd quarter. EFG Asset Management Americas Corp. now owns 10,455 shares of the scientific and technical instruments company’s stock worth $2,182,000 after purchasing an additional 2,659 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Garmin by 6.9% in the 2nd quarter. Vanguard Group Inc. now owns 19,698,329 shares of the scientific and technical instruments company’s stock worth $4,111,435,000 after buying an additional 1,273,163 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its position in Garmin by 4.9% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 50,681 shares of the scientific and technical instruments company’s stock valued at $10,578,000 after buying an additional 2,375 shares in the last quarter. Hedge funds and other institutional investors own 81.60% of the company’s stock.

Garmin Company Profile

(Get Free Report)

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.

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