2,694 Shares in Garmin Ltd. $GRMN Purchased by NewEdge Wealth LLC

NewEdge Wealth LLC bought a new position in shares of Garmin Ltd. (NYSE:GRMN) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 2,694 shares of the scientific and technical instruments company’s stock, valued at approximately $546,000.

Other institutional investors have also recently made changes to their positions in the company. Richardson Financial Services Inc. grew its position in shares of Garmin by 62.2% during the third quarter. Richardson Financial Services Inc. now owns 133 shares of the scientific and technical instruments company’s stock worth $33,000 after purchasing an additional 51 shares in the last quarter. Cornerstone Planning Group LLC grew its position in shares of Garmin by 788.9% during the third quarter. Cornerstone Planning Group LLC now owns 160 shares of the scientific and technical instruments company’s stock worth $39,000 after purchasing an additional 142 shares in the last quarter. GraniteShares Advisors LLC purchased a new stake in shares of Garmin during the fourth quarter worth about $41,000. Torren Management LLC purchased a new stake in shares of Garmin during the fourth quarter worth about $41,000. Finally, Mascoma Wealth Management LLC purchased a new stake in shares of Garmin during the third quarter worth about $54,000. Hedge funds and other institutional investors own 81.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Zacks Research lowered Garmin from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. Weiss Ratings reissued a “buy (b)” rating on shares of Garmin in a research note on Thursday, January 22nd. Tigress Financial increased their price target on Garmin from $310.00 to $320.00 and gave the company a “strong-buy” rating in a research note on Friday, February 20th. Barclays dropped their price target on Garmin from $240.00 to $238.00 and set an “equal weight” rating for the company in a research note on Thursday, April 30th. Finally, JPMorgan Chase & Co. increased their price target on Garmin from $265.00 to $285.00 and gave the company a “neutral” rating in a research note on Thursday, April 16th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $268.40.

Insiders Place Their Bets

In other news, EVP Matthew Munn sold 5,275 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the executive vice president directly owned 9,876 shares of the company’s stock, valued at $2,478,579.72. This trade represents a 34.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Susan Lyman sold 3,805 shares of the firm’s stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $251.32, for a total value of $956,272.60. Following the completion of the sale, the vice president directly owned 7,471 shares of the company’s stock, valued at $1,877,611.72. The trade was a 33.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 40,246 shares of company stock worth $10,110,041. 15.38% of the stock is currently owned by company insiders.

Garmin Trading Down 3.6%

Shares of Garmin stock opened at $226.04 on Friday. The stock has a 50 day moving average of $244.83 and a 200 day moving average of $222.45. Garmin Ltd. has a 12 month low of $186.67 and a 12 month high of $273.32. The firm has a market cap of $43.59 billion, a PE ratio of 25.20, a PEG ratio of 2.76 and a beta of 0.94.

Garmin (NYSE:GRMN) last posted its quarterly earnings data on Wednesday, April 29th. The scientific and technical instruments company reported $2.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.24. The business had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.72 billion. Garmin had a return on equity of 20.07% and a net margin of 23.26%.The company’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same period last year, the company earned $1.61 EPS. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. As a group, equities research analysts forecast that Garmin Ltd. will post 9.57 earnings per share for the current fiscal year.

Garmin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 26th. Stockholders of record on Friday, March 12th will be paid a $1.05 dividend. This represents a $4.20 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, March 12th. Garmin’s dividend payout ratio (DPR) is presently 40.13%.

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.