In a recent transaction disclosed by Garmin Ltd . (NASDAQ:NYSE:GRMN), a company currently valued at $42.75 billion and showing impressive market performance with a 67% return over the past year, Laurie Minard, the company's Vice President of Human Resources, sold 787 registered shares. The shares were sold at an average price of $226.114 each, amounting to a total transaction value of $177,951. Following this sale, Minard holds 5,955 shares, which include unvested shares acquired through previously granted restricted stock unit awards. This transaction was executed on February 24, 2025, as per the SEC Form 4 filing. According to InvestingPro analysis, Garmin maintains a strong financial position with more cash than debt on its balance sheet, and has consistently paid dividends for 23 consecutive years. The stock is currently trading above its Fair Value, as calculated by InvestingPro's comprehensive valuation model. Investors can access 15 additional ProTips and detailed financial metrics through InvestingPro's in-depth research report.
In other recent news, Garmin Ltd reported its fourth-quarter 2024 financial results, showcasing a strong performance that exceeded analysts' expectations. The company achieved an earnings per share (EPS) of $2.41, surpassing the forecasted $1.91, and generated revenue of $1.82 billion, beating the predicted $1.65 billion. This marks a 23% year-over-year revenue growth, with record figures across all business segments. Garmin's impressive results are supported by double-digit growth in the fitness, auto OEM, and outdoor categories, as well as strong demand in the EMEA region.
Garmin has provided positive guidance for 2025, projecting an 8% revenue growth to $6.8 billion, with expectations of maintaining a gross margin of 58.7% and an operating margin of 25%. The company also announced a proposed 20% increase in its annual dividend to $3.60 per share. Despite the strong performance, Garmin faces potential challenges, including softening in the auto OEM market, especially in China, potential tariff impacts, and increased R&D expenses.
Analyst firm JPMorgan noted the robust performance in the fitness segment, with Garmin benefiting from market share gains and new customer growth. The company remains optimistic about continued growth in 2025. Meanwhile, Cleveland Research highlighted Garmin's consistent gross margins across segments, attributing this stability to favorable product mix and cost efficiencies. These developments reflect Garmin's strategic initiatives and operational execution, positioning the company for continued success.
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