Garmin Ltd. $GRMN is Artisan Partners Limited Partnership’s 10th Largest Position

Artisan Partners Limited Partnership trimmed its stake in Garmin Ltd. (NYSE:GRMN) by 1.1% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 5,829,901 shares of the scientific and technical instruments company’s stock after selling 62,249 shares during the period. Garmin comprises 2.0% of Artisan Partners Limited Partnership’s investment portfolio, making the stock its 10th biggest holding. Artisan Partners Limited Partnership owned approximately 3.03% of Garmin worth $1,435,438,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the stock. Norges Bank purchased a new stake in Garmin in the second quarter valued at approximately $410,304,000. Vanguard Group Inc. grew its stake in shares of Garmin by 6.9% in the second quarter. Vanguard Group Inc. now owns 19,698,329 shares of the scientific and technical instruments company’s stock valued at $4,111,435,000 after buying an additional 1,273,163 shares in the last quarter. Amundi raised its holdings in shares of Garmin by 138.0% in the 2nd quarter. Amundi now owns 1,158,702 shares of the scientific and technical instruments company’s stock valued at $247,255,000 after buying an additional 671,859 shares during the period. KBC Group NV lifted its stake in Garmin by 643.3% during the 2nd quarter. KBC Group NV now owns 202,874 shares of the scientific and technical instruments company’s stock worth $42,344,000 after acquiring an additional 175,582 shares in the last quarter. Finally, Marshall Wace LLP boosted its holdings in Garmin by 292.1% during the 2nd quarter. Marshall Wace LLP now owns 135,636 shares of the scientific and technical instruments company’s stock valued at $28,310,000 after acquiring an additional 101,043 shares during the period. 81.60% of the stock is currently owned by institutional investors and hedge funds.

Garmin Trading Up 0.8%

Garmin stock opened at $253.92 on Friday. The company has a fifty day simple moving average of $212.46 and a 200-day simple moving average of $221.20. The stock has a market cap of $48.87 billion, a P/E ratio of 29.53, a price-to-earnings-growth ratio of 3.02 and a beta of 1.00. Garmin Ltd. has a 12-month low of $169.26 and a 12-month high of $261.69.

Garmin (NYSE:GRMN) last posted its earnings results on Wednesday, February 18th. The scientific and technical instruments company reported $2.79 EPS for the quarter, beating the consensus estimate of $2.39 by $0.40. The firm had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.01 billion. Garmin had a return on equity of 19.64% and a net margin of 22.96%.Garmin’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.41 earnings per share. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. As a group, sell-side analysts forecast that Garmin Ltd. will post 7.8 earnings per share for the current fiscal year.

Garmin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 26th. Stockholders of record on Friday, March 12th will be given a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, March 12th. Garmin’s dividend payout ratio (DPR) is 41.86%.

Insiders Place Their Bets

In other news, CEO Clifton A. Pemble sold 10,431 shares of the business’s stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $206.23, for a total transaction of $2,151,185.13. Following the completion of the sale, the chief executive officer owned 135,180 shares in the company, valued at approximately $27,878,171.40. The trade was a 7.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Patrick Desbois sold 3,678 shares of the company’s stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $210.40, for a total transaction of $773,851.20. Following the completion of the transaction, the chief operating officer owned 61,798 shares of the company’s stock, valued at approximately $13,002,299.20. The trade was a 5.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 18,144 shares of company stock worth $3,798,628 in the last three months. 15.38% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on GRMN. Morgan Stanley boosted their price target on shares of Garmin from $193.00 to $195.00 and gave the stock an “underweight” rating in a research note on Thursday, October 30th. Barclays set a $240.00 price objective on shares of Garmin in a report on Thursday, February 19th. JPMorgan Chase & Co. upped their target price on shares of Garmin from $250.00 to $265.00 and gave the stock a “neutral” rating in a research note on Thursday, February 19th. Weiss Ratings reiterated 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 report on Monday. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.