Garmin (NYSE:GRMN) Shares Gap Up After Strong Earnings

Garmin Ltd. (NYSE:GRMN)’s stock price gapped up prior to trading on Wednesday following a stronger than expected earnings report. The stock had previously closed at $216.98, but opened at $251.19. Garmin shares last traded at $237.2620, with a volume of 1,207,312 shares trading hands.

The scientific and technical instruments company reported $2.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.39 by $0.40. The company had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $2.01 billion. Garmin had a return on equity of 19.64% and a net margin of 22.96%.The company’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same period in the prior year, the company earned $2.41 earnings per share. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS.

Garmin Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 26th. Investors of record on Friday, March 12th will be given a dividend of $1.05 per share. The ex-dividend date of this dividend is Friday, March 12th. This represents a $4.20 annualized dividend and a yield of 1.8%. Garmin’s dividend payout ratio is 44.33%.

Garmin News Roundup

Here are the key news stories impacting Garmin this week:

• Positive Sentiment: Q4 results topped estimates — pro forma EPS $2.79 vs. ~$2.39 expected and revenue $2.12B (up ~16.6% YoY); strength was led by Fitness (+42%), Aviation and Marine, signaling broad-based demand. Read More.
• Positive Sentiment: FY2026 guidance materially above consensus — Garmin guided to ~$7.9B revenue and $9.35 pro forma EPS (vs. consensus ~ $7.4B / $8.51), which underpins near-term multiple expansion and justified the rally. Read More.
• Positive Sentiment: Shareholder-return boost — company proposed a 17% dividend increase and a new $500M buyback program, improving cash-return optics and reducing float pressure over time. Read More.
• Positive Sentiment: Multiple sell- and buy-side notes upgraded price targets or raised models after the beat — including a recent JPMorgan-linked target lift to $265 (still “neutral”), which supports upside from here. Read More.
• Neutral Sentiment: Analyst consensus mixed — overall broker consensus is constructive (Moderate Buy on some aggregators) but several firms still carry cautious/underweight views, so continued multiple expansion depends on execution. Read More.
• Negative Sentiment: Minor insider selling disclosed (CFO sold a small stake) and some late-2025 underweights remain — these are modest negatives but worth monitoring for any change in insider trend or downgrades. Read More.

Analysts Set New Price Targets

A number of research analysts have recently commented on GRMN shares. JPMorgan Chase & Co. lifted their price objective on shares of Garmin from $250.00 to $265.00 and gave the company a “neutral” rating in a research report on Thursday. Morgan Stanley boosted their price target on Garmin from $193.00 to $195.00 and gave the stock 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 report on Wednesday, December 3rd. Weiss Ratings reiterated a “buy (b)” rating on shares of Garmin in a research note on Thursday, January 22nd. Finally, Tigress Financial restated a “strong-buy” rating on shares of Garmin in a research note on Friday, December 19th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Garmin presently has a consensus rating of “Moderate Buy” and a consensus target price of $252.00.

Insider Activity at Garmin

In other Garmin news, COO Patrick Desbois sold 3,678 shares of Garmin stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $210.40, for a total value of $773,851.20. Following the completion of the transaction, the chief operating officer directly owned 61,798 shares of the company’s stock, valued at $13,002,299.20. The trade was a 5.62% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Clifton A. Pemble sold 10,431 shares of the firm’s 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 in the company, valued at approximately $27,878,171.40. This trade represents a 7.16% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 17,073 shares of company stock worth $3,540,774. Company insiders own 15.38% of the company’s stock.

Institutional Investors Weigh In On Garmin

Large investors have recently added to or reduced their stakes in the company. Quaker Wealth Management LLC increased its holdings in shares of Garmin by 200.0% in the second quarter. Quaker Wealth Management LLC now owns 132 shares of the scientific and technical instruments company’s stock worth $28,000 after purchasing an additional 264 shares during the period. Richardson Financial Services Inc. grew its position in 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 buying an additional 51 shares in the last quarter. Cornerstone Planning Group LLC increased its stake in Garmin by 788.9% in the 3rd quarter. Cornerstone Planning Group LLC now owns 160 shares of the scientific and technical instruments company’s stock worth $39,000 after acquiring an additional 142 shares during the last quarter. Atlas Capital Advisors Inc. bought a new position in Garmin in the 4th quarter worth about $34,000. Finally, Tradewinds Capital Management LLC purchased a new stake in shares of Garmin in the 3rd quarter valued at about $44,000. Hedge funds and other institutional investors own 81.60% of the company’s stock.

Garmin Stock Performance

The stock has a market cap of $46.10 billion, a P/E ratio of 27.87, a P/E/G ratio of 2.35 and a beta of 1.00. The stock has a 50-day moving average price of $207.95 and a 200-day moving average price of $220.46.

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.