Garmin Ltd. $GRMN Position Trimmed by Thematics Asset Management

Thematics Asset Management decreased its holdings in Garmin Ltd. (NYSE:GRMN) by 70.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 14,528 shares of the scientific and technical instruments company’s stock after selling 35,069 shares during the quarter. Thematics Asset Management’s holdings in Garmin were worth $3,577,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Mather Group LLC. lifted its position in shares of Garmin by 1.2% during the 3rd quarter. Mather Group LLC. now owns 3,749 shares of the scientific and technical instruments company’s stock valued at $923,000 after acquiring an additional 44 shares during the last quarter. Smith Moore & CO. grew its holdings in shares of Garmin by 4.3% in the 2nd quarter. Smith Moore & CO. now owns 1,151 shares of the scientific and technical instruments company’s stock worth $240,000 after acquiring an additional 47 shares during the last quarter. BSW Wealth Partners raised its position in shares of Garmin by 2.9% during the third quarter. BSW Wealth Partners now owns 1,724 shares of the scientific and technical instruments company’s stock worth $425,000 after purchasing an additional 48 shares during the period. SYM FINANCIAL Corp lifted its holdings in shares of Garmin by 4.0% during the third quarter. SYM FINANCIAL Corp now owns 1,294 shares of the scientific and technical instruments company’s stock valued at $319,000 after purchasing an additional 50 shares during the last quarter. Finally, Alpine Woods Capital Investors LLC lifted its holdings in shares of Garmin by 0.6% during the third quarter. Alpine Woods Capital Investors LLC now owns 9,314 shares of the scientific and technical instruments company’s stock valued at $2,293,000 after purchasing an additional 51 shares during the last quarter. Institutional investors own 81.60% of the company’s stock.

Garmin Trading Down 0.9%

Shares of GRMN stock opened at $233.55 on Friday. Garmin Ltd. has a 1-year low of $169.26 and a 1-year high of $261.69. The company has a market capitalization of $44.95 billion, a price-to-earnings ratio of 27.16, a P/E/G ratio of 2.82 and a beta of 0.94. The stock’s fifty day simple moving average is $221.24 and its 200-day simple moving average is $222.06.

Garmin (NYSE:GRMN) last announced its quarterly earnings data on Wednesday, February 18th. 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. Garmin had a return on equity of 19.64% and a net margin of 22.96%.The firm had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $2.01 billion. During the same period in the prior year, the business earned $2.41 EPS. The business’s revenue for the quarter was up 16.6% on a year-over-year basis. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. On average, sell-side analysts predict that Garmin Ltd. will post 7.8 EPS for the current year.

Garmin Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 26th. Stockholders of record on Friday, March 12th will be given a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Friday, March 12th. Garmin’s dividend payout ratio is 41.86%.

Insider Buying and Selling at Garmin

In other Garmin news, COO Patrick Desbois sold 6,694 shares of Garmin stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $251.65, for a total transaction of $1,684,545.10. Following the completion of the sale, the chief operating officer owned 58,540 shares of the company’s stock, valued at $14,731,591. This trade represents a 10.26% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Matthew Munn sold 5,275 shares of the business’s stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $250.97, for a total transaction of $1,323,866.75. Following the transaction, the executive vice president owned 9,876 shares in the company, valued at approximately $2,478,579.72. This represents a 34.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 57,319 shares of company stock valued at $13,650,815 in the last 90 days. Corporate insiders own 15.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Barclays set a $240.00 price target on Garmin in a research report on Thursday, February 19th. JPMorgan Chase & Co. upped their price objective on shares of Garmin from $250.00 to $265.00 and gave the company a “neutral” rating in a research note on Thursday, February 19th. Zacks Research upgraded shares of Garmin from a “hold” rating to a “strong-buy” rating in a report on Monday, February 23rd. Longbow Research raised shares of Garmin from a “neutral” rating to a “buy” rating and set a $250.00 target price on the stock in a research report on Wednesday, December 3rd. Finally, Tigress Financial boosted their price target on shares of Garmin from $310.00 to $320.00 and gave the company a “strong-buy” rating in a report on Friday, February 20th. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Garmin currently has a consensus rating of “Moderate Buy” and an average price target of $254.00.

Garmin Profile

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.