Welcome to our dedicated page for Garmin news (Ticker: GRMN), a resource for investors and traders seeking the latest updates and insights on Garmin stock.
Garmin Ltd. (NYSE: GRMN) is a globally recognized leader in the development of GPS-enabled hardware and software across five verticals: fitness, outdoors, auto, aviation, and marine. Established in 1989 in Kansas City, Garmin has grown exponentially, maintaining its entrepreneurial spirit while fostering a culture where every voice counts. This ethos drives the company’s innovative spirit, making technology accessible and meaningful to a global audience.
Garmin’s product portfolio includes a wide range of devices tailored to meet the needs of various niche activities such as scuba diving, sailing, and off-road adventures. The company’s GPS systems are known for their reliability and precision, making them favorites among athletes, outdoor enthusiasts, and professionals alike. Garmin's presence is truly global, with operations in over 100 countries and a diverse network of distributors and original equipment manufacturer (OEM) partnerships.
Recently, Garmin has made significant strides in expanding its offerings and enhancing product capabilities. For instance, the company’s Unified Cabin™ automotive suite was showcased at CES 2024, featuring advanced technologies like Dolby Atmos audio, zoned voice assistance, and improved device connectivity. Garmin's collaboration with leading automobile manufacturers such as BMW, Daimler, Ford, and Honda further underscores its commitment to innovation and quality.
In the marine segment, Garmin launched the Panoptix™ PS70, a groundbreaking live sonar device capable of providing real-time views at depths of up to 1,000 feet. This technology offers a video-like experience with rapid updates, setting a new standard for deep-sea sportfishing. The company's marine products continue to revolutionize the industry, earning accolades and solidifying Garmin's position as a market leader.
Financially, Garmin is robust, consistently achieving record revenue in multiple segments. In 2023, the company reported record full-year revenue across three of its five segments, driven by the successful launch of new products and strong market demand. Garmin’s financial health is further highlighted by its significant operating cash flow and a well-maintained dividend policy, ensuring long-term value for shareholders.
Garmin’s future projects and partnerships are indicative of its forward-looking strategy. The company continues to collaborate with industry leaders like Kawasaki and Vuzix to integrate advanced technologies into its offerings, ensuring that it remains at the forefront of innovation in the tech world.
Garmin has entered into a long-term agreement with Heart Aerospace to supply the G3000 integrated flight deck for the upcoming ES-19 electric airliner. This 19-seat aircraft aims to offer a sustainable transport option by 2026, with United Airlines conditionally planning to purchase 100 units upon meeting safety and operational criteria. The G3000 system, designed for electric aircraft, will enhance operational performance and battery management. Garmin's involvement highlights its commitment to innovation in aviation, promising reduced emissions and lower operational costs in the regional air transport market.
Garmin (NYSE: GRMN) has been recognized as Supplier of the Year by Embraer for the seventh consecutive year during the virtual Suppliers Conference on December 2. Garmin excelled in the Electric and Electronic Systems category, praised for its G3000 Prodigy Touch flight deck systems in the Phenom 100EV and Phenom 300E. The award reflects Garmin's commitment to innovation, production support, and customer satisfaction. Over the last decade, Garmin has received 12 supplier awards from Embraer, showcasing its leadership in avionics solutions for various aviation sectors.
Intercontinental Exchange (NYSE: ICE) announced that Garmin Ltd. (NYSE: GRMN) has successfully completed its transfer to the New York Stock Exchange. Garmin, a leader in various markets for over 30 years, aims to leverage NYSE's advanced market model and extensive network of business leaders. CEO Cliff Pemble expressed confidence in the move, highlighting it as a strategic advantage that will enhance brand value and shareholder returns. Since 2000, approximately 300 companies, worth over $1 trillion, have transitioned to the NYSE.
Garmin has been awarded the Best of What’s New Award for its Descent Mk2i dive computer and Descent T1 transmitter. This recognition highlights Garmin's innovative SubWave sonar communication technology, enabling advanced underwater data sharing. Retail prices are $1,499.99 for the Mk2i and $399.99 for the T1, with a bundle available for $1,849.99.
The Board of Garmin Ltd. (NASDAQ: GRMN) has declared a dividend of $0.67 per share, with a payment date of December 31, 2021 and a record date of December 15, 2021. This is part of a total annual cash dividend of $2.68 per share, approved by shareholders. The dividend will be divided into four equal installments, with two already paid on June 30, 2021 and September 30, 2021. The next installment is tentatively scheduled for March 31, 2022.
Garmin has secured a multiyear partnership as the Official Equipment Supplier for the University of New Mexico track and field and cross-country teams through spring 2024. This is Garmin's first venture supplying equipment to college teams. Athletes will utilize Garmin watches and accessories, including Forerunner 55, Forerunner 245, and HRM-Pro. The University boasts a strong athletic history with 25 Mountain West championships and 10 NCAA individual champions, highlighting the significance of this collaboration.
Garmin Ltd. (NASDAQ: GRMN) has announced its transfer of share listing from Nasdaq to the New York Stock Exchange (NYSE), effective December 7, 2021. This strategic move aims to enhance its visibility alongside established companies. Garmin, known for its innovation in the fitness, automotive, marine, and aviation sectors, plans to celebrate the transition by ringing the NYSE Opening Bell on the same date. The company continues to grow in the smartwatch market and has received accolades for its pioneering products, including the award-winning Autoland technology.
Garmin has entered a two-year agreement to become the title sponsor of the Garmin RunningLane Cross Country Championships, commencing on December 4, 2021, in Huntsville, Alabama. This prestigious event will feature over 1,500 high school athletes from across the U.S., competing for various individual and team awards. Garmin aims to promote its running products, including Forerunner series watches, and underscores its commitment to supporting youth athletes. This sponsorship will enhance Garmin's brand visibility within the fitness community.
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