Garmin Ltd. $GRMN Shares Sold by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC cut its holdings in shares of Garmin Ltd. (NYSE:GRMN) by 52.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,702 shares of the scientific and technical instruments company’s stock after selling 3,006 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Garmin were worth $548,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Mather Group LLC. lifted its holdings 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 worth $923,000 after acquiring an additional 44 shares during the period. Smith Moore & CO. boosted its position in shares of Garmin by 4.3% in the second 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 grew its holdings in Garmin by 2.9% in the third quarter. BSW Wealth Partners now owns 1,724 shares of the scientific and technical instruments company’s stock valued at $425,000 after purchasing an additional 48 shares during the period. Daymark Wealth Partners LLC increased its position in Garmin by 0.7% during the fourth quarter. Daymark Wealth Partners LLC now owns 6,813 shares of the scientific and technical instruments company’s stock worth $1,382,000 after purchasing an additional 48 shares during the last quarter. Finally, SYM FINANCIAL Corp increased its position in 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 worth $319,000 after purchasing an additional 50 shares during the last quarter. 81.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on GRMN. Zacks Research upgraded shares of Garmin from a “hold” rating to a “strong-buy” rating in a report on Monday, February 23rd. Tigress Financial upped their price objective on Garmin from $310.00 to $320.00 and gave the stock a “strong-buy” rating in a report on Friday, February 20th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Garmin in a research report on Thursday, January 22nd. JPMorgan Chase & Co. lifted their target price on Garmin from $250.00 to $265.00 and gave the company a “neutral” rating in a report on Thursday, February 19th. Finally, Barclays set a $240.00 price target on Garmin in a research report on Thursday, February 19th. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $254.00.

Insider Buying and Selling

In other news, COO Patrick Desbois sold 6,694 shares of the stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $251.65, for a total value of $1,684,545.10. Following the completion of the sale, the chief operating officer owned 58,540 shares in the company, valued at approximately $14,731,591. This trade represents a 10.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Matthew Munn sold 5,275 shares of the firm’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $250.97, for a total value of $1,323,866.75. Following the sale, the executive vice president owned 9,876 shares in the company, valued at approximately $2,478,579.72. The trade was a 34.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 44,403 shares of company stock valued at $10,987,074 over the last ninety days. Insiders own 19.54% of the company’s stock.

Garmin Stock Up 2.7%

Shares of GRMN stock opened at $232.20 on Wednesday. Garmin Ltd. has a fifty-two week low of $169.26 and a fifty-two week high of $261.69. The firm’s 50 day moving average price is $227.12 and its two-hundred day moving average price is $221.55. The stock has a market cap of $44.69 billion, a price-to-earnings ratio of 27.00, a price-to-earnings-growth ratio of 2.71 and a beta of 0.94.

Garmin (NYSE:GRMN) last released 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. The company had revenue of $2.12 billion during the quarter, compared to analyst estimates of $2.01 billion. Garmin had a net margin of 22.96% and a return on equity of 19.64%. The business’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.41 earnings per share. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. On average, equities analysts forecast that Garmin Ltd. will post 7.8 EPS for the current fiscal year.

Garmin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 26th. Shareholders of record on Friday, March 12th will be given a $1.05 dividend. 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 (DPR) is 41.86%.

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.