Trajan Wealth LLC Has $21.04 Million Position in Garmin Ltd. $GRMN

Trajan Wealth LLC lessened its stake in Garmin Ltd. (NYSE:GRMN) by 5.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 85,438 shares of the scientific and technical instruments company’s stock after selling 5,120 shares during the period. Trajan Wealth LLC’s holdings in Garmin were worth $21,037,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in Garmin in the second quarter valued at approximately $410,304,000. Vanguard Group Inc. lifted its position in shares of Garmin by 6.9% in the 2nd quarter. Vanguard Group Inc. now owns 19,698,329 shares of the scientific and technical instruments company’s stock worth $4,111,435,000 after purchasing an additional 1,273,163 shares during the period. Amundi boosted its stake in shares of Garmin by 138.0% in the 2nd quarter. Amundi now owns 1,158,702 shares of the scientific and technical instruments company’s stock valued at $247,255,000 after purchasing an additional 671,859 shares during the last quarter. Artisan Partners Limited Partnership increased its position in shares of Garmin by 6.4% during the second quarter. Artisan Partners Limited Partnership now owns 5,892,150 shares of the scientific and technical instruments company’s stock worth $1,229,810,000 after buying an additional 356,161 shares during the period. Finally, KBC Group NV increased its position in shares of Garmin by 643.3% during the second quarter. KBC Group NV now owns 202,874 shares of the scientific and technical instruments company’s stock worth $42,344,000 after buying an additional 175,582 shares during the period. 81.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Barclays set a $240.00 price target on shares of Garmin in a research report on Thursday. Morgan Stanley upped their target price on Garmin from $193.00 to $195.00 and gave the company an “underweight” rating in a research report on Thursday, October 30th. JPMorgan Chase & Co. lifted their target price on Garmin from $250.00 to $265.00 and gave the stock a “neutral” rating in a report on Thursday. Longbow Research raised 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. Finally, Tigress Financial raised 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. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $254.00.

Insider Buying and Selling at Garmin

In related news, CFO Douglas G. Boessen sold 479 shares of the company’s stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $215.41, for a total value of $103,181.39. Following the sale, the chief financial officer owned 28,488 shares in the company, valued at $6,136,600.08. This represents a 1.65% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Patrick Desbois sold 3,678 shares of the firm’s stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $210.40, for a total transaction of $773,851.20. Following the completion of the transaction, the chief operating officer directly owned 61,798 shares in the company, valued at approximately $13,002,299.20. The trade was a 5.62% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 18,144 shares of company stock valued at $3,798,628. Insiders own 19.54% of the company’s stock.

Garmin Stock Performance

Shares of NYSE:GRMN opened at $248.65 on Monday. Garmin Ltd. has a 52-week low of $169.26 and a 52-week high of $261.69. The business’s 50 day simple moving average is $208.76 and its two-hundred day simple moving average is $220.50. The firm has a market cap of $47.86 billion, a P/E ratio of 28.91, a PEG ratio of 2.44 and a beta of 1.00.

Garmin (NYSE:GRMN) last issued its earnings results on Wednesday, February 18th. The scientific and technical instruments company reported $2.79 earnings per share for the quarter, topping analysts’ consensus estimates of $2.39 by $0.40. Garmin had a return on equity of 19.64% and a net margin of 22.96%.The company had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.01 billion. During the same period in the prior year, the firm earned $2.41 earnings per share. Garmin’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, equities analysts forecast that Garmin Ltd. will post 7.8 earnings per share for the current fiscal year.

Garmin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 26th. Stockholders of record on Friday, March 12th will be issued a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Friday, March 12th. Garmin’s dividend payout ratio (DPR) is currently 41.86%.

About Garmin

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.