Jefferies Financial Group Inc. Sells 32,419 Shares of Garmin Ltd. $GRMN

Jefferies Financial Group Inc. decreased its stake in shares of Garmin Ltd. (NYSE:GRMN) by 86.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,280 shares of the scientific and technical instruments company’s stock after selling 32,419 shares during the quarter. Jefferies Financial Group Inc.’s holdings in Garmin were worth $1,300,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in GRMN. Richardson Financial Services Inc. increased 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 acquiring an additional 51 shares during the period. Cornerstone Planning Group LLC boosted 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 valued at $39,000 after purchasing an additional 142 shares during the period. Tradewinds Capital Management LLC purchased a new stake in shares of Garmin in the third quarter valued at approximately $44,000. SJS Investment Consulting Inc. grew its stake in Garmin by 1,530.8% in the third quarter. SJS Investment Consulting Inc. now owns 212 shares of the scientific and technical instruments company’s stock worth $52,000 after purchasing an additional 199 shares in the last quarter. Finally, Mascoma Wealth Management LLC bought a new position in Garmin in the third quarter worth approximately $54,000. 81.60% of the stock is owned by hedge funds and other institutional investors.

Garmin Price Performance

Shares of GRMN stock opened at $236.02 on Thursday. The stock’s fifty day moving average price is $219.96 and its 200 day moving average price is $221.96. Garmin Ltd. has a 1-year low of $169.26 and a 1-year high of $261.69. The company has a market cap of $45.43 billion, a price-to-earnings ratio of 27.44, a price-to-earnings-growth ratio of 2.89 and a beta of 0.94.

Garmin (NYSE:GRMN) last released its quarterly earnings results on Wednesday, February 18th. The scientific and technical instruments company reported $2.79 EPS for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $2.01 billion. During the same period last year, the business posted $2.41 earnings per share. The firm’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, equities research analysts anticipate that Garmin Ltd. will post 7.8 earnings per share for the current year.

Garmin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 26th. Investors of record on Friday, March 12th will be paid a $1.05 dividend. The ex-dividend date is Friday, March 12th. This represents a $4.20 dividend on an annualized basis and a yield of 1.8%. Garmin’s dividend payout ratio (DPR) is 41.86%.

Insider Buying and Selling

In other Garmin news, CFO Douglas G. Boessen sold 3,487 shares of the business’s stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $251.66, for a total transaction of $877,538.42. Following the sale, the chief financial officer owned 28,049 shares of the company’s stock, valued at approximately $7,058,811.34. The trade was a 11.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Matthew Munn sold 5,275 shares of the company’s stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $250.97, for a total transaction of $1,323,866.75. Following the transaction, the executive vice president owned 9,876 shares in the company, valued at $2,478,579.72. The trade was a 34.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 57,319 shares of company stock worth $13,650,815 over the last ninety days. Company insiders own 15.38% of the company’s stock.

Wall Street Analysts Forecast Growth

GRMN has been the subject of a number of research analyst reports. Tigress Financial lifted their target price on Garmin from $310.00 to $320.00 and gave the company a “strong-buy” rating in a research report on Friday, February 20th. JPMorgan Chase & Co. increased their price target on Garmin from $250.00 to $265.00 and gave the stock a “neutral” rating in a research 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. Weiss Ratings restated a “buy (b)” rating on shares of Garmin in a report on Thursday, January 22nd. Finally, Zacks Research raised shares of Garmin from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 23rd. Two investment 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target 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.