Garmin Ltd. $GRMN Shares Sold by Paradigm Asset Management Co. LLC

Paradigm Asset Management Co. LLC trimmed its position in shares of Garmin Ltd. (NYSE:GRMN) by 32.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,600 shares of the scientific and technical instruments company’s stock after selling 2,700 shares during the quarter. Paradigm Asset Management Co. LLC’s holdings in Garmin were worth $1,379,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in GRMN. Andra AP fonden increased its stake in shares of Garmin by 87.2% during the 2nd quarter. Andra AP fonden now owns 67,000 shares of the scientific and technical instruments company’s stock worth $13,984,000 after purchasing an additional 31,200 shares in the last quarter. Penserra Capital Management LLC increased its position in Garmin by 43.4% during the 3rd quarter. Penserra Capital Management LLC now owns 22,496 shares of the scientific and technical instruments company’s stock worth $5,538,000 after purchasing an additional 6,806 shares in the last quarter. EFG Asset Management Americas Corp. increased its position in Garmin by 34.1% during the 2nd quarter. EFG Asset Management Americas Corp. now owns 10,455 shares of the scientific and technical instruments company’s stock worth $2,182,000 after purchasing an additional 2,659 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Garmin by 25.9% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,584 shares of the scientific and technical instruments company’s stock worth $5,314,000 after purchasing an additional 4,437 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Garmin by 4.7% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 429,030 shares of the scientific and technical instruments company’s stock worth $105,636,000 after buying an additional 19,360 shares in the last quarter. Hedge funds and other institutional investors own 81.60% of the company’s stock.

Insider Buying and Selling

In other Garmin news, EVP Matthew Munn sold 5,275 shares of the company’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 transaction, the executive vice president owned 9,876 shares in the company, valued at $2,478,579.72. This represents a 34.82% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Susan Lyman sold 3,805 shares of Garmin stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $251.32, for a total transaction of $956,272.60. Following the sale, the vice president owned 7,471 shares in the company, valued at $1,877,611.72. This represents a 33.74% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 57,319 shares of company stock valued at $13,650,815. 15.38% of the stock is owned by insiders.

Garmin Stock Performance

Shares of NYSE:GRMN opened at $240.12 on Friday. The stock has a 50-day simple moving average of $217.05 and a 200-day simple moving average of $221.78. The stock has a market capitalization of $46.22 billion, a P/E ratio of 27.92, a PEG ratio of 3.01 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 announced 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 firm had revenue of $2.12 billion for the quarter, compared to analysts’ expectations of $2.01 billion. During the same period in the previous year, the company posted $2.41 earnings per share. Garmin’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. Analysts predict that Garmin Ltd. will post 7.8 earnings per share for the current year.

Garmin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 26th. Shareholders of record on Friday, March 12th will be paid 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 payout ratio is currently 41.86%.

Wall Street Analyst Weigh In

GRMN has been the topic of several recent analyst reports. Longbow Research raised shares of 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. Zacks Research raised Garmin from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 23rd. Barclays set a $240.00 price objective on Garmin in a research report on Thursday, February 19th. Weiss Ratings reiterated a “buy (b)” rating on shares of Garmin in a research report on Thursday, January 22nd. Finally, JPMorgan Chase & Co. lifted their price target on Garmin from $250.00 to $265.00 and gave the company a “neutral” rating in a report on Thursday, February 19th. Two 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 stock. According to data from MarketBeat.com, the company presently has an average 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.