Congress Asset Management Co. Has $50.04 Million Stake in Garmin Ltd. $GRMN

Congress Asset Management Co. lowered its stake in Garmin Ltd. (NYSE:GRMN) by 34.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 246,662 shares of the scientific and technical instruments company’s stock after selling 130,769 shares during the quarter. Congress Asset Management Co. owned approximately 0.13% of Garmin worth $50,035,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in GRMN. Richardson Financial Services Inc. lifted its stake in Garmin by 62.2% in the 3rd quarter. Richardson Financial Services Inc. now owns 133 shares of the scientific and technical instruments company’s stock valued at $33,000 after purchasing an additional 51 shares during the last quarter. Cornerstone Planning Group LLC grew its stake in shares of Garmin by 788.9% during the third quarter. Cornerstone Planning Group LLC now owns 160 shares of the scientific and technical instruments company’s stock worth $39,000 after buying an additional 142 shares during the last quarter. Tradewinds Capital Management LLC acquired a new position in shares of Garmin during the third quarter worth $44,000. SJS Investment Consulting Inc. increased its holdings in shares of 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 worth $52,000 after buying an additional 199 shares in the last quarter. Finally, Mascoma Wealth Management LLC bought a new position in shares of Garmin in the 3rd quarter valued at $54,000. 81.60% of the stock is owned by institutional investors.

Garmin Stock Up 2.6%

Shares of NYSE:GRMN opened at $238.52 on Tuesday. The firm has a market cap of $45.91 billion, a P/E ratio of 27.73, a P/E/G ratio of 2.78 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 has a fifty day simple moving average of $224.16 and a 200 day simple moving average of $221.70.

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, beating analysts’ consensus estimates of $2.39 by $0.40. Garmin had a return on equity of 19.64% and a net margin of 22.96%.The firm had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.01 billion. During the same quarter in the previous year, the company posted $2.41 EPS. The business’s revenue was up 16.6% on a year-over-year basis. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. As a group, equities research analysts expect that Garmin Ltd. will post 7.8 EPS for the current 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 given a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Friday, March 12th. Garmin’s dividend payout ratio is currently 41.86%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on GRMN. Zacks Research raised 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 target on the stock in a research note on Wednesday, December 3rd. JPMorgan Chase & Co. boosted their price target on Garmin from $250.00 to $265.00 and gave the stock a “neutral” rating in a report on Thursday, February 19th. Tigress Financial upped their price objective on Garmin from $310.00 to $320.00 and gave the company a “strong-buy” rating in a research note on Friday, February 20th. Finally, Barclays set a $240.00 price objective on shares of Garmin in a report on Thursday, February 19th. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to 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 Garmin news, EVP Matthew Munn sold 5,275 shares of the firm’s stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $250.97, for a total transaction of $1,323,866.75. Following the completion of the transaction, the executive vice president owned 9,876 shares in the company, valued at approximately $2,478,579.72. This trade represents a 34.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Douglas G. Boessen sold 3,487 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer owned 28,049 shares in the company, valued at $7,058,811.34. This trade represents a 11.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 44,403 shares of company stock worth $10,987,074. Company insiders own 19.54% of the company’s stock.

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.