Garmin Ltd. $GRMN Shares Purchased by DNB Asset Management AS

DNB Asset Management AS boosted its position in Garmin Ltd. (NYSE:GRMN) by 6.8% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 32,438 shares of the scientific and technical instruments company’s stock after acquiring an additional 2,060 shares during the period. DNB Asset Management AS’s holdings in Garmin were worth $7,987,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in GRMN. Brighton Jones LLC lifted its position in Garmin by 31.3% during the fourth quarter. Brighton Jones LLC now owns 1,943 shares of the scientific and technical instruments company’s stock worth $401,000 after buying an additional 463 shares during the period. NewEdge Advisors LLC increased 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 acquiring an additional 345 shares during the last quarter. Woodline Partners LP increased 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 acquiring an additional 3,757 shares during the last quarter. Focus Partners Wealth lifted its holdings 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 worth $1,479,000 after acquiring an additional 2,304 shares during the period. Finally, Sivia Capital Partners LLC boosted its position in shares of Garmin by 17.0% in the second quarter. Sivia Capital Partners LLC now owns 1,662 shares of the scientific and technical instruments company’s stock worth $347,000 after acquiring an additional 242 shares during the last quarter. Hedge funds and other institutional investors own 81.60% of the company’s stock.

Analyst Ratings Changes

GRMN has been the subject of several research analyst reports. Zacks Research raised shares of Garmin from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 23rd. Weiss Ratings reissued a “buy (b)” rating on shares of Garmin in a research note on Thursday, January 22nd. JPMorgan Chase & Co. increased their target price on Garmin from $250.00 to $265.00 and gave the stock a “neutral” rating in a research report on Thursday, February 19th. Tigress Financial lifted their target price on Garmin from $310.00 to $320.00 and gave the company a “strong-buy” rating in a report on Friday, February 20th. Finally, Barclays set a $240.00 price target on Garmin in a research report on Thursday, February 19th. 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’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $254.00.

Key Stories Impacting Garmin

Here are the key news stories impacting Garmin this week:

• Positive Sentiment: Rare institutional inflows continue to target Garmin, a long-term bullish technical/fund flow signal that some investors view as a structural tailwind. This can attract new demand and partly offset selling pressure. Read More.
• Neutral Sentiment: Despite the sales, insiders still retain sizable holdings (for example, CEO Clifton Pemble owns 124,075 shares after his sale), which can temper concerns that leadership is abandoning the stock. Read More.
• Negative Sentiment: Large, coordinated insider selling likely pressured the share price: CEO Clifton Pemble sold 19,914 shares (~$5.01M), COO Patrick Desbois sold 6,694 shares (~$1.68M), EVP Matthew Munn sold 5,275 shares (~$1.32M), CFO Douglas Boessen sold 3,487 shares (~$877.5K), and VP Susan Lyman sold 3,805 shares (~$956K). These trades represent double-digit percentage reductions for several executives and are being interpreted by some investors as a negative signal or as near-term supply hitting the market. SEC filings for each sale: Read More., Read More., Read More., Read More., Read More.

Garmin Price Performance

NYSE:GRMN opened at $252.42 on Monday. The firm has a 50-day moving average of $213.48 and a two-hundred day moving average of $221.18. The stock has a market cap of $48.59 billion, a P/E ratio of 29.35, a PEG ratio of 3.03 and a beta of 0.94. Garmin Ltd. has a 1-year low of $169.26 and a 1-year high of $261.69.

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, topping the consensus estimate of $2.39 by $0.40. Garmin had a return on equity of 19.64% and a net margin of 22.96%.The business had revenue of $2.12 billion for the quarter, compared to analysts’ expectations of $2.01 billion. During the same quarter in the previous year, the firm posted $2.41 earnings per share. The company’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 analysts expect that Garmin Ltd. will post 7.8 earnings per share for the current year.

Garmin Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Friday, March 12th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 1.7%. Garmin’s dividend payout ratio (DPR) is presently 41.86%.

Insiders Place Their Bets

In related news, COO Patrick Desbois sold 6,694 shares of the company’s stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $251.65, for a total value of $1,684,545.10. Following the sale, the chief operating officer directly owned 58,540 shares of the company’s stock, valued at $14,731,591. This represents a 10.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Douglas G. Boessen sold 3,487 shares of the firm’s stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $251.66, for a total transaction of $877,538.42. Following the transaction, the chief financial officer directly owned 28,049 shares of the company’s stock, valued at approximately $7,058,811.34. This represents a 11.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 57,319 shares of company stock valued at $13,650,815. 19.54% of the stock is owned by 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.