Garmin (NYSE:GRMN) executives rang the symbolic bell atop the trading floor of the New York Stock Exchange on Tuesday, indicating Garmin’s move to begin trading as an NYSE-listed company.
Garmin first began trading on the NASDAQ exchange 21 years ago through its initial public offering. With its recent transfer, the company is now trading under the ticker NYSE: GRMN.
Cliff Pemble, president and CEO of Garmin, said his company was pleased to be listed “alongside many of the world’s most well-established and regarded companies.”
Stacey Cunningham, president of the NYSE Group, welcomed Garmin.
“We look forward to working with Garmin as it helps millions of active lifestyle customers pursue their passions,” Cunningham said.
Diverse Offerings Bring Change
After ringing the bell, Pemble explained on the stock exchange’s digital broadcast, Floor Talk, that the reason Garmin switched to NYSE, was that the company’s diverse portfolio, today, is a far cry from where it was when Garmin started its IPO.
“This transfer reflects the change in our business, which also reflects the shareholders in the composition that we have, and we feel like this transfer will help us manage our investor relations better,” he said.
The company now offers a range of GPS technology across multiple sectors, including:
- Automotive
- Aviation
- Marine
- Outdoor
- Sports
Garmin’s Robust Aviation Arm
Garmin’s aviation business segment is a leading provider of solutions to OEM, aftermarket, military, and government customers, and has a product portfolio that includes:
- Navigation
- Communication
- Flight control
- Hazard avoidance
In November, the company was honored at the Collier Trophy Gala by the National Aeronautic Association (NAA) for its new Autoland system that can autonomously land an aircraft if the pilot becomes unable to fly.
