Quantbot Technologies LP Sells 81,291 Shares of Garmin Ltd. $GRMN

Quantbot Technologies LP reduced its holdings in shares of Garmin Ltd. (NYSE:GRMN) by 94.0% in the third quarter, Holdings Channel.com reports. The fund owned 5,222 shares of the scientific and technical instruments company’s stock after selling 81,291 shares during the quarter. Quantbot Technologies LP’s holdings in Garmin were worth $1,286,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of GRMN. Richardson Financial Services Inc. increased its stake in Garmin by 62.2% in 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 during the period. Cornerstone Planning Group LLC grew its holdings in shares of Garmin by 788.9% in 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 during the last quarter. Tradewinds Capital Management LLC purchased a new position in Garmin in the 3rd quarter worth about $44,000. Newbridge Financial Services Group Inc. lifted its holdings in Garmin by 96.9% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 250 shares of the scientific and technical instruments company’s stock valued at $52,000 after buying an additional 123 shares in the last quarter. Finally, SJS Investment Consulting Inc. boosted its position in Garmin by 1,530.8% in the 3rd quarter. SJS Investment Consulting Inc. now owns 212 shares of the scientific and technical instruments company’s stock valued at $52,000 after buying an additional 199 shares during the period. Institutional investors own 81.60% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on GRMN. Zacks Research raised shares of Garmin from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 23rd. Longbow Research raised Garmin from a “neutral” rating to a “buy” rating and set a $250.00 price objective on the stock in a research note on Wednesday, December 3rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Garmin in a research report on Thursday, January 22nd. Barclays set a $240.00 price target on Garmin in a research report on Thursday, February 19th. Finally, Tigress Financial lifted their price objective on Garmin from $310.00 to $320.00 and gave the company a “strong-buy” rating in a report on Friday, February 20th. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Garmin presently has an average rating of “Moderate Buy” and a consensus target price of $254.00.

Garmin Price Performance

GRMN opened at $240.12 on Friday. The firm has a market capitalization of $46.22 billion, a PE ratio of 27.92, a price-to-earnings-growth ratio of 3.01 and a beta of 0.94. The business’s 50-day moving average is $217.05 and its two-hundred day moving average is $221.78. Garmin Ltd. has a 1 year low of $169.26 and a 1 year high of $261.69.

Garmin (NYSE:GRMN) last released its quarterly earnings results on Wednesday, February 18th. The scientific and technical instruments company reported $2.79 earnings per share for the quarter, beating analysts’ consensus estimates of $2.39 by $0.40. Garmin had a net margin of 22.96% and a return on equity of 19.64%. The business had revenue of $2.12 billion for the quarter, compared to analysts’ expectations of $2.01 billion. During the same period last year, the business earned $2.41 EPS. The company’s revenue was up 16.6% compared to the same quarter last year. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. As a group, sell-side analysts expect that Garmin Ltd. will post 7.8 EPS for the current year.

Garmin Announces Dividend

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

Insider Activity

In other news, VP Susan Lyman sold 3,805 shares of the firm’s stock in a transaction on Thursday, February 26th. The stock was 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 owned 7,471 shares of the company’s stock, valued at $1,877,611.72. This trade represents a 33.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Douglas G. Boessen sold 3,487 shares of the business’s stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $251.66, for a total value of $877,538.42. Following the transaction, the chief financial officer owned 28,049 shares in the company, valued at approximately $7,058,811.34. This trade represents a 11.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 57,319 shares of company stock worth $13,650,815. Company insiders own 15.38% of the company’s stock.

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.