Garmin Ltd. $GRMN Stock Position Decreased by Thematics Asset Management

Thematics Asset Management trimmed its position in shares of Garmin Ltd. (NYSE:GRMN) by 70.7% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 14,528 shares of the scientific and technical instruments company’s stock after selling 35,069 shares during the period. Thematics Asset Management’s holdings in Garmin were worth $3,577,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Richardson Financial Services Inc. raised its position in 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 valued at $33,000 after acquiring an additional 51 shares in the last quarter. Cornerstone Planning Group LLC increased its stake in shares of Garmin by 788.9% during the 3rd 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 acquired a new position in shares of Garmin during the 3rd quarter worth $44,000. Newbridge Financial Services Group Inc. raised its holdings in shares of 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 purchasing an additional 123 shares in the last quarter. Finally, SJS Investment Consulting Inc. lifted its stake in shares of 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 purchasing an additional 199 shares during the last quarter. Institutional investors and hedge funds own 81.60% of the company’s stock.

Insider Buying and Selling

In other news, COO Patrick Desbois sold 6,694 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief operating officer directly owned 58,540 shares in the company, valued at $14,731,591. The trade was a 10.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Douglas G. Boessen sold 3,487 shares of the stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $251.66, for a total value of $877,538.42. Following the completion of the sale, the chief financial officer directly owned 28,049 shares of the company’s stock, valued at $7,058,811.34. This represents a 11.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 57,319 shares of company stock worth $13,650,815. 15.38% of the stock is currently owned by company insiders.

Garmin Trading Down 0.9%

NYSE:GRMN opened at $233.55 on Friday. The firm has a market capitalization of $44.95 billion, a PE ratio of 27.16, a PEG ratio of 2.82 and a beta of 0.94. Garmin Ltd. has a 1 year low of $169.26 and a 1 year high of $261.69. The firm’s fifty day simple moving average is $221.24 and its 200 day simple moving average is $222.06.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $2.39 by $0.40. The company had revenue of $2.12 billion during 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 period in the prior year, the company earned $2.41 earnings per share. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. As a group, analysts anticipate that Garmin Ltd. will post 7.8 EPS for the current fiscal year.

Garmin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 26th. Shareholders 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 dividend on an annualized basis and a yield of 1.8%. Garmin’s dividend payout ratio (DPR) is 41.86%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on GRMN shares. JPMorgan Chase & Co. upped their price objective on shares of Garmin from $250.00 to $265.00 and gave the stock a “neutral” rating in a report on Thursday, February 19th. Barclays set a $240.00 target price on Garmin in a report on Thursday, February 19th. Zacks Research upgraded Garmin from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 23rd. Weiss Ratings reissued a “buy (b)” rating on shares of Garmin in a report on Thursday, January 22nd. Finally, 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. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus 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.