Monte Financial Group LLC Sells 2,181 Shares of Garmin Ltd. $GRMN

Monte Financial Group LLC decreased its holdings in shares of Garmin Ltd. (NYSE:GRMN) by 9.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,125 shares of the scientific and technical instruments company’s stock after selling 2,181 shares during the period. Garmin comprises approximately 1.7% of Monte Financial Group LLC’s holdings, making the stock its 28th largest position. Monte Financial Group LLC’s holdings in Garmin were worth $4,488,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of GRMN. Brighton Jones LLC lifted its stake in shares of Garmin by 31.3% during the 4th quarter. Brighton Jones LLC now owns 1,943 shares of the scientific and technical instruments company’s stock valued at $401,000 after buying an additional 463 shares in the last quarter. NewEdge Advisors LLC lifted its stake in shares of Garmin by 6.2% during the 1st quarter. NewEdge Advisors LLC now owns 5,885 shares of the scientific and technical instruments company’s stock valued at $1,278,000 after buying an additional 345 shares in the last quarter. Woodline Partners LP lifted its stake in shares of Garmin by 40.6% during the 1st quarter. Woodline Partners LP now owns 13,017 shares of the scientific and technical instruments company’s stock valued at $2,826,000 after buying an additional 3,757 shares in the last quarter. Focus Partners Wealth lifted its stake in shares of Garmin by 51.1% during the 1st quarter. Focus Partners Wealth now owns 6,811 shares of the scientific and technical instruments company’s stock valued at $1,479,000 after buying an additional 2,304 shares in the last quarter. Finally, Sivia Capital Partners LLC lifted its stake in shares of Garmin by 17.0% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,662 shares of the scientific and technical instruments company’s stock valued at $347,000 after buying an additional 242 shares in the last quarter. Institutional investors own 81.60% of the company’s stock.

Garmin Stock Up 4.6%

Shares of GRMN stock opened at $252.38 on Thursday. The stock has a market cap of $48.58 billion, a P/E ratio of 29.35, a PEG ratio of 2.85 and a beta of 0.96. Garmin Ltd. has a 52 week low of $170.00 and a 52 week high of $261.69. The company’s fifty day simple moving average is $231.44 and its two-hundred day simple moving average is $221.89.

Garmin (NYSE:GRMN) last announced its quarterly earnings results on Wednesday, February 18th. The scientific and technical instruments company reported $2.79 EPS for the quarter, topping the consensus estimate of $2.39 by $0.40. The business had revenue of $2.12 billion for the quarter, compared to analysts’ expectations of $2.01 billion. Garmin had a net margin of 22.96% and a return on equity of 19.64%. The business’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.41 EPS. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. On average, analysts anticipate that Garmin Ltd. will post 7.8 EPS for the current fiscal year.

Garmin Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 26th. Shareholders 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 annualized dividend and a yield of 1.7%. Garmin’s payout ratio is presently 41.86%.

Analyst Ratings Changes

GRMN has been the topic of a number of analyst reports. Tigress Financial lifted their target price on shares of Garmin from $310.00 to $320.00 and gave the company a “strong-buy” rating in a research note on Friday, February 20th. Zacks Research upgraded shares of Garmin from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 23rd. Barclays set a $240.00 target price on shares of Garmin in a research note on Thursday, February 19th. Weiss Ratings restated a “buy (b)” rating on shares of Garmin in a research note on Thursday, January 22nd. Finally, JPMorgan Chase & Co. lifted their target price on shares of Garmin from $250.00 to $265.00 and gave the company a “neutral” rating in a research note on Thursday, February 19th. Two analysts have 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. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $254.00.

Insiders Place Their Bets

In other Garmin news, VP Susan Lyman sold 3,805 shares of the business’s stock in a transaction 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 sale, the vice president owned 7,471 shares in the company, valued at $1,877,611.72. The trade was a 33.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Clifton A. Pemble sold 19,914 shares of the business’s stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $251.58, for a total transaction of $5,009,964.12. Following the completion of the sale, the chief executive officer owned 124,075 shares in the company, valued at approximately $31,214,788.50. The trade was a 13.83% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 40,725 shares of company stock worth $10,213,222. 15.38% of the stock is owned by corporate insiders.

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.