DB Fitzpatrick & Co Inc Takes Position in Garmin Ltd. $GRMN

DB Fitzpatrick & Co Inc bought a new stake in Garmin Ltd. (NYSE:GRMN) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 7,096 shares of the scientific and technical instruments company’s stock, valued at approximately $1,439,000. Garmin accounts for approximately 1.3% of DB Fitzpatrick & Co Inc’s portfolio, making the stock its 24th biggest position.

Several other institutional investors and hedge funds have also recently bought and sold shares of GRMN. Intesa Sanpaolo S.p.A. purchased a new position in Garmin during the 4th quarter worth $444,000. Royal Fund Management LLC raised its holdings in shares of Garmin by 17.9% in the fourth quarter. Royal Fund Management LLC now owns 26,953 shares of the scientific and technical instruments company’s stock valued at $5,477,000 after buying an additional 4,099 shares during the last quarter. Mn Services Vermogensbeheer B.V. boosted its stake in shares of Garmin by 1.5% during the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 58,757 shares of the scientific and technical instruments company’s stock worth $11,919,000 after buying an additional 857 shares during the period. Barlow Wealth Partners LLC grew its holdings in shares of Garmin by 1.2% during the fourth quarter. Barlow Wealth Partners LLC now owns 75,497 shares of the scientific and technical instruments company’s stock worth $16,024,000 after buying an additional 927 shares during the last quarter. Finally, Wedge Capital Management L L P NC grew its holdings in shares of Garmin by 24.4% during the fourth quarter. Wedge Capital Management L L P NC now owns 167,990 shares of the scientific and technical instruments company’s stock worth $34,077,000 after buying an additional 32,945 shares during the last quarter. Hedge funds and other institutional investors own 81.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on GRMN. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Garmin in a research note on Thursday, January 22nd. JPMorgan Chase & Co. lifted their target price on Garmin from $250.00 to $265.00 and gave the company a “neutral” rating in a research note on Thursday, February 19th. Tigress Financial upped their price target on Garmin from $310.00 to $320.00 and gave the stock a “strong-buy” rating in a research note on Friday, February 20th. Barclays set a $240.00 price target on Garmin in a report on Thursday, February 19th. Finally, Zacks Research raised shares of Garmin from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 23rd. Two equities research 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 assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $254.00.

Insider Activity

In other Garmin news, CEO Clifton A. Pemble sold 19,914 shares of the company’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $251.58, for a total transaction of $5,009,964.12. Following the transaction, the chief executive officer directly owned 124,075 shares in the company, valued at approximately $31,214,788.50. This represents a 13.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Susan Lyman sold 3,805 shares of the stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $251.32, for a total transaction 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 approximately $1,877,611.72. This trade represents a 33.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 44,403 shares of company stock valued at $10,987,074 in the last quarter. Insiders own 19.54% of the company’s stock.

Garmin Price Performance

Shares of GRMN stock opened at $232.20 on Wednesday. The business’s fifty day moving average price is $227.12 and its 200 day moving average price is $221.55. The firm has a market capitalization of $44.69 billion, a PE ratio of 27.00, a P/E/G ratio of 2.71 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 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. The company had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $2.01 billion. Garmin had a return on equity of 19.64% and a net margin of 22.96%.Garmin’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same quarter last year, the company earned $2.41 earnings per share. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. Equities research analysts expect that Garmin Ltd. will post 7.8 earnings per share for the current fiscal year.

Garmin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 26th. Investors 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 1.8%. Garmin’s dividend payout ratio (DPR) is 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.