ARK Investment Management LLC Has $7.12 Million Stake in Garmin Ltd. $GRMN

ARK Investment Management LLC grew its stake in Garmin Ltd. (NYSE:GRMN) by 10.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,925 shares of the scientific and technical instruments company’s stock after acquiring an additional 2,852 shares during the period. ARK Investment Management LLC’s holdings in Garmin were worth $7,122,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Richardson Financial Services Inc. increased 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 worth $33,000 after buying an additional 51 shares during the last quarter. Cornerstone Planning Group LLC increased its stake in 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 acquiring an additional 142 shares during the period. Tradewinds Capital Management LLC bought a new position in shares of Garmin in the third quarter worth $44,000. Newbridge Financial Services Group Inc. increased its holdings in Garmin by 96.9% in 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 buying an additional 123 shares during the period. Finally, SJS Investment Consulting Inc. raised its position in Garmin by 1,530.8% during the third 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 in the last quarter. 81.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have commented on GRMN. Weiss Ratings reissued a “buy (b)” rating on shares of Garmin in a research note on Thursday, January 22nd. Tigress Financial raised their target price on 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 upgraded shares of Garmin from a “hold” rating to a “strong-buy” rating in a report on Monday, February 23rd. 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. Finally, JPMorgan Chase & Co. boosted their target price on shares of Garmin from $250.00 to $265.00 and gave the company a “neutral” rating in a research report on Thursday, February 19th. Two research 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 given a Sell rating to the company’s stock. Based on data from MarketBeat, Garmin presently has a consensus rating of “Moderate Buy” and an average target price of $254.00.

Insider Buying and Selling at Garmin

In other news, VP Susan Lyman sold 3,805 shares of the firm’s stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $251.32, for a total value of $956,272.60. Following the completion of the transaction, the vice president directly owned 7,471 shares of the company’s stock, valued at $1,877,611.72. This trade represents a 33.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Matthew Munn sold 5,275 shares of the firm’s stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $250.97, for a total value of $1,323,866.75. Following the completion of the transaction, the executive vice president owned 9,876 shares of the company’s stock, valued at approximately $2,478,579.72. This represents a 34.82% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 57,319 shares of company stock valued at $13,650,815. Insiders own 15.38% of the company’s stock.

Garmin Trading Down 4.4%

Shares of Garmin stock opened at $240.12 on Friday. The firm has a market capitalization of $46.22 billion, a P/E ratio of 27.92, a price-to-earnings-growth ratio of 3.01 and a beta of 0.94. Garmin Ltd. has a 12 month low of $169.26 and a 12 month high of $261.69. The business’s fifty day simple moving average is $217.05 and its 200 day simple moving average is $221.78.

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

Garmin Announces Dividend

The company also recently announced 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 dividend yield of 1.7%. Garmin’s payout ratio is presently 41.86%.

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.