Empirical Financial Services LLC d.b.a. Empirical Wealth Management Acquires 2,687 Shares of Garmin Ltd. $GRMN

Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its holdings in shares of Garmin Ltd. (NYSE:GRMN) by 16.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 18,578 shares of the scientific and technical instruments company’s stock after purchasing an additional 2,687 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Garmin were worth $3,768,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Richardson Financial Services Inc. increased its holdings in Garmin by 62.2% in the third 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 period. Cornerstone Planning Group LLC lifted its holdings 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 buying an additional 142 shares during the period. Tradewinds Capital Management LLC acquired a new position in Garmin during the 3rd quarter worth about $44,000. SJS Investment Consulting Inc. grew its position in shares of Garmin by 1,530.8% in the 3rd quarter. SJS Investment Consulting Inc. now owns 212 shares of the scientific and technical instruments company’s stock valued at $52,000 after buying an additional 199 shares during the last quarter. Finally, Mascoma Wealth Management LLC acquired a new stake in shares of Garmin in the third quarter valued at about $54,000. Institutional investors own 81.60% of the company’s stock.

Insider Buying and Selling

In other Garmin news, COO Patrick Desbois sold 6,694 shares of the firm’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 completion of the sale, the chief operating officer directly owned 58,540 shares in the company, valued at approximately $14,731,591. This trade represents a 10.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Douglas G. Boessen sold 3,487 shares of Garmin stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $251.66, for a total transaction of $877,538.42. Following the completion of the sale, the chief financial officer directly owned 28,049 shares of the company’s stock, valued at approximately $7,058,811.34. This trade represents a 11.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 44,403 shares of company stock worth $10,987,074 over the last ninety days. 15.38% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on GRMN shares. Weiss Ratings restated a “buy (b)” rating on shares of Garmin in a research report on Thursday, January 22nd. Barclays set a $240.00 target price on shares of Garmin in a research report on Thursday, February 19th. Zacks Research upgraded shares of Garmin from a “hold” rating to a “strong-buy” rating in a report on Monday, February 23rd. Tigress Financial boosted their price target on shares of Garmin from $310.00 to $320.00 and gave the stock a “strong-buy” rating in a research report on Friday, February 20th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Garmin from $250.00 to $265.00 and gave the company a “neutral” rating in a research note on Thursday, February 19th. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $254.00.

Garmin Price Performance

Shares of NYSE:GRMN opened at $237.55 on Friday. Garmin Ltd. has a 1 year low of $169.26 and a 1 year high of $261.69. The business’s 50-day moving average is $228.41 and its 200-day moving average is $221.77. The company has a market capitalization of $45.72 billion, a price-to-earnings ratio of 27.62, a P/E/G ratio of 2.85 and a beta of 0.96.

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, topping the consensus estimate of $2.39 by $0.40. The business had revenue of $2.12 billion during the quarter, compared to analysts’ expectations of $2.01 billion. Garmin had a return on equity of 19.64% and a net margin of 22.96%.The firm’s revenue was up 16.6% on a year-over-year basis. During the same quarter last year, the firm posted $2.41 earnings per share. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. Analysts anticipate that Garmin Ltd. will post 7.8 EPS for the current year.

Garmin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 26th. Stockholders 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 payout ratio is currently 41.86%.

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.