Garmin Ltd. $GRMN Stock Holdings Decreased by Groupama Asset Managment

Groupama Asset Managment trimmed its position in shares of Garmin Ltd. (NYSE:GRMN) by 54.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,138 shares of the scientific and technical instruments company’s stock after selling 2,535 shares during the period. Groupama Asset Managment’s holdings in Garmin were worth $526,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of GRMN. Brighton Jones LLC raised its holdings in Garmin by 31.3% during the fourth quarter. Brighton Jones LLC now owns 1,943 shares of the scientific and technical instruments company’s stock valued at $401,000 after buying an additional 463 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in Garmin by 6.2% in the 1st quarter. NewEdge Advisors LLC now owns 5,885 shares of the scientific and technical instruments company’s stock worth $1,278,000 after purchasing an additional 345 shares during the last quarter. Woodline Partners LP boosted its position in Garmin by 40.6% during the first quarter. Woodline Partners LP now owns 13,017 shares of the scientific and technical instruments company’s stock worth $2,826,000 after purchasing an additional 3,757 shares during the period. Focus Partners Wealth grew its holdings in Garmin by 51.1% during the first quarter. Focus Partners Wealth now owns 6,811 shares of the scientific and technical instruments company’s stock valued at $1,479,000 after purchasing an additional 2,304 shares during the last quarter. Finally, Sivia Capital Partners LLC raised its position in shares of Garmin by 17.0% in the second quarter. Sivia Capital Partners LLC now owns 1,662 shares of the scientific and technical instruments company’s stock valued at $347,000 after purchasing an additional 242 shares during the period. 81.60% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Garmin

In other news, EVP Matthew Munn sold 5,275 shares of the business’s 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 directly owned 9,876 shares of the company’s stock, valued at $2,478,579.72. The trade was a 34.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Clifton A. Pemble sold 19,914 shares of the stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $251.58, for a total transaction of $5,009,964.12. Following the transaction, the chief executive officer directly owned 124,075 shares in the company, valued at $31,214,788.50. This trade represents a 13.83% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 44,403 shares of company stock valued at $10,987,074. Corporate insiders own 15.38% of the company’s stock.

Garmin Trading Down 1.1%

NYSE GRMN opened at $232.51 on Friday. Garmin Ltd. has a 12 month low of $169.26 and a 12 month high of $261.69. The company has a market cap of $44.75 billion, a PE ratio of 27.04, a PEG ratio of 2.82 and a beta of 0.94. The stock has a 50 day moving average of $223.62 and a 200-day moving average of $221.88.

Garmin (NYSE:GRMN) last posted its earnings results on Wednesday, February 18th. The scientific and technical instruments company reported $2.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.39 by $0.40. The company had revenue of $2.12 billion during 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%. Garmin’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same quarter last year, the company posted $2.41 EPS. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. As a group, sell-side analysts predict that Garmin Ltd. will post 7.8 EPS for the current fiscal year.

Garmin Dividend Announcement

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

Analysts Set New Price Targets

Several analysts recently issued reports on GRMN shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Garmin in a report on Thursday, January 22nd. Barclays set a $240.00 price target on shares of Garmin in a report on Thursday, February 19th. Longbow Research upgraded Garmin from a “neutral” rating to a “buy” rating and set a $250.00 price target on the stock in a research note on Wednesday, December 3rd. Zacks Research upgraded shares of Garmin from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 23rd. Finally, JPMorgan Chase & Co. lifted their price objective on Garmin from $250.00 to $265.00 and gave the company a “neutral” rating in a research report on Thursday, February 19th. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Garmin presently has a consensus rating of “Moderate Buy” and an average target price 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.