New Age Alpha Advisors LLC Raises Stock Position in Garmin Ltd. $GRMN

New Age Alpha Advisors LLC increased its position in shares of Garmin Ltd. (NYSE:GRMN) by 98.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,439 shares of the scientific and technical instruments company’s stock after acquiring an additional 2,202 shares during the period. New Age Alpha Advisors LLC’s holdings in Garmin were worth $1,009,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. American Century Companies Inc. boosted its holdings in Garmin by 11.3% in the 3rd quarter. American Century Companies Inc. now owns 58,924 shares of the scientific and technical instruments company’s stock valued at $14,509,000 after purchasing an additional 5,998 shares during the period. Rafferty Asset Management LLC raised its position in shares of Garmin by 7.5% in the third quarter. Rafferty Asset Management LLC now owns 14,628 shares of the scientific and technical instruments company’s stock worth $3,602,000 after buying an additional 1,026 shares in the last quarter. Handelsbanken Fonder AB raised its position in shares of Garmin by 12.9% in the third quarter. Handelsbanken Fonder AB now owns 208,469 shares of the scientific and technical instruments company’s stock worth $51,329,000 after buying an additional 23,821 shares in the last quarter. Xponance Inc. boosted its stake in Garmin by 0.4% during the third quarter. Xponance Inc. now owns 24,044 shares of the scientific and technical instruments company’s stock valued at $5,920,000 after buying an additional 88 shares during the period. Finally, DNB Asset Management AS grew its position in Garmin by 6.8% during the third quarter. DNB Asset Management AS now owns 32,438 shares of the scientific and technical instruments company’s stock worth $7,987,000 after buying an additional 2,060 shares in the last quarter. 81.60% of the stock is currently owned by hedge funds and other institutional investors.

Garmin Price Performance

NYSE:GRMN opened at $251.05 on Wednesday. The business has a 50 day moving average of $215.42 and a 200 day moving average of $221.45. The company has a market capitalization of $48.32 billion, a price-to-earnings ratio of 29.19, a PEG ratio of 3.05 and a beta of 0.94. Garmin Ltd. has a 1-year low of $169.26 and a 1-year high of $261.69.

Garmin (NYSE:GRMN) last issued its quarterly earnings results on Wednesday, February 18th. The scientific and technical instruments company reported $2.79 EPS for the quarter, beating analysts’ consensus estimates of $2.39 by $0.40. The business had revenue of $2.12 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period last year, the business earned $2.41 earnings per share. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. As a group, sell-side analysts anticipate that Garmin Ltd. will post 7.8 EPS for the current year.

Garmin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 26th. Investors 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 yield of 1.7%. The ex-dividend date is Friday, March 12th. Garmin’s dividend payout ratio (DPR) is presently 41.86%.

Insider Buying and Selling

In other news, EVP Matthew Munn sold 5,275 shares of Garmin stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $250.97, for a total value 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. The trade was a 34.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Douglas G. Boessen sold 3,487 shares of the business’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $251.66, for a total value of $877,538.42. Following the completion of the sale, the chief financial officer directly owned 28,049 shares of the company’s stock, valued at approximately $7,058,811.34. This trade represents a 11.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 57,319 shares of company stock worth $13,650,815 over the last 90 days. Insiders own 19.54% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on GRMN. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Garmin in a report on Thursday, January 22nd. Tigress Financial upped their price objective on shares of Garmin from $310.00 to $320.00 and gave the stock a “strong-buy” rating in a research report on Friday, February 20th. 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 note on Wednesday, December 3rd. Barclays set a $240.00 price target on shares of Garmin in a research note on Thursday, February 19th. Finally, Zacks Research raised shares of Garmin from a “hold” rating to a “strong-buy” rating in a report on Monday, February 23rd. Two equities research 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 issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Garmin presently has a consensus rating of “Moderate Buy” and a consensus target price of $254.00.

Garmin Company 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.