Thrivent Financial for Lutherans Has $112.91 Million Stock Position in Garmin Ltd. $GRMN

Thrivent Financial for Lutherans trimmed its position in Garmin Ltd. (NYSE:GRMN) by 13.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 556,632 shares of the scientific and technical instruments company’s stock after selling 85,971 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Garmin were worth $112,913,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of GRMN. Alliancebernstein L.P. lifted its stake in shares of Garmin by 649.2% in the third quarter. Alliancebernstein L.P. now owns 1,256,668 shares of the scientific and technical instruments company’s stock worth $309,417,000 after buying an additional 1,088,938 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Garmin by 2.5% in the third quarter. Vanguard Group Inc. now owns 20,197,564 shares of the scientific and technical instruments company’s stock worth $4,973,044,000 after buying an additional 499,235 shares during the last quarter. KBC Group NV lifted its stake in shares of Garmin by 113.6% in the fourth quarter. KBC Group NV now owns 561,291 shares of the scientific and technical instruments company’s stock worth $113,859,000 after buying an additional 298,462 shares during the last quarter. Lazard Asset Management LLC lifted its stake in shares of Garmin by 530.5% in the third quarter. Lazard Asset Management LLC now owns 351,690 shares of the scientific and technical instruments company’s stock worth $86,593,000 after buying an additional 295,914 shares during the last quarter. Finally, Man Group plc increased its position in Garmin by 302.5% during the third quarter. Man Group plc now owns 244,679 shares of the scientific and technical instruments company’s stock worth $60,245,000 after acquiring an additional 183,889 shares during the period. 81.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GRMN has been the topic of a number of research reports. JPMorgan Chase & Co. boosted their target price on shares of Garmin from $265.00 to $285.00 and gave the stock a “neutral” rating in a research report on Thursday, April 16th. Tigress Financial boosted their target price on shares of Garmin from $310.00 to $320.00 and gave the stock a “strong-buy” rating in a research report on Friday, February 20th. Zacks Research lowered shares of Garmin from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 1st. Morgan Stanley set a $249.00 target price on shares of Garmin in a research report on Thursday, April 30th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Garmin in a research report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $268.40.

Garmin Trading Up 1.1%

Shares of GRMN stock opened at $234.51 on Friday. Garmin Ltd. has a 1 year low of $186.67 and a 1 year high of $273.32. The firm’s fifty day simple moving average is $245.33 and its 200 day simple moving average is $222.42. The firm has a market capitalization of $45.23 billion, a P/E ratio of 26.14, a price-to-earnings-growth ratio of 2.73 and a beta of 0.94.

Garmin (NYSE:GRMN) last announced its quarterly earnings results on Wednesday, April 29th. The scientific and technical instruments company reported $2.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.24. The firm had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.72 billion. Garmin had a net margin of 23.26% and a return on equity of 20.07%. The business’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.61 EPS. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. Equities research analysts anticipate that Garmin Ltd. will post 9.57 EPS for the current fiscal year.

Garmin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 26th. Stockholders of record on Friday, March 12th will be issued a $1.05 dividend. The ex-dividend date of this dividend is Friday, March 12th. This represents a $4.20 annualized dividend and a dividend yield of 1.8%. Garmin’s dividend payout ratio is presently 40.13%.

Insiders Place Their Bets

In other news, CFO Douglas G. Boessen sold 3,487 shares of the company’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $251.66, for a total value 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. This represents a 11.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Patrick Desbois sold 6,694 shares of the company’s stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $251.65, for a total transaction of $1,684,545.10. Following the completion of the sale, the chief operating officer directly owned 58,540 shares in the company, valued at approximately $14,731,591. The trade was a 10.26% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 40,246 shares of company stock worth $10,110,041 in the last quarter. 15.38% of the stock is owned by corporate insiders.

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.