Arizona State Retirement System Sells 3,490 Shares of Garmin Ltd. $GRMN

Arizona State Retirement System trimmed its position in shares of Garmin Ltd. (NYSE:GRMN) by 7.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,838 shares of the scientific and technical instruments company’s stock after selling 3,490 shares during the quarter. Arizona State Retirement System’s holdings in Garmin were worth $9,095,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Turtle Creek Wealth Advisors LLC boosted its position in shares of Garmin by 4.4% during the fourth quarter. Turtle Creek Wealth Advisors LLC now owns 31,252 shares of the scientific and technical instruments company’s stock worth $6,339,000 after purchasing an additional 1,311 shares in the last quarter. Confluence Wealth Services Inc. boosted its position in shares of Garmin by 2.9% during the fourth quarter. Confluence Wealth Services Inc. now owns 7,347 shares of the scientific and technical instruments company’s stock worth $1,490,000 after purchasing an additional 205 shares in the last quarter. M&T Bank Corp boosted its position in shares of Garmin by 5.6% during the fourth quarter. M&T Bank Corp now owns 19,117 shares of the scientific and technical instruments company’s stock worth $3,878,000 after purchasing an additional 1,017 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH boosted its position in shares of Garmin by 15.1% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 144,245 shares of the scientific and technical instruments company’s stock worth $29,394,000 after purchasing an additional 18,895 shares in the last quarter. Finally, TABR Capital Management LLC bought a new position in shares of Garmin during the fourth quarter worth $3,946,000. 81.60% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Barclays set a $240.00 price target on shares of Garmin in a research report on Thursday, February 19th. JPMorgan Chase & Co. boosted their price objective on shares of Garmin from $265.00 to $285.00 and gave the company a “neutral” rating in a research report on Thursday, April 16th. Zacks Research raised shares of Garmin from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 23rd. Tigress Financial boosted their price objective on shares of Garmin from $310.00 to $320.00 and gave the company a “strong-buy” rating in a research report on Friday, February 20th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Garmin in a research report on Thursday, January 22nd. Two equities research 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 issued a Sell rating to the stock. According to MarketBeat, Garmin has an average rating of “Moderate Buy” and an average price target of $258.00.

Insider Transactions at Garmin

In other Garmin news, EVP Matthew Munn sold 5,275 shares of Garmin stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $250.97, for a total value of $1,323,866.75. Following the sale, the executive vice president directly owned 9,876 shares in the company, valued at approximately $2,478,579.72. The trade was a 34.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Clifton A. Pemble sold 19,914 shares of Garmin stock in a transaction on 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 completion of the sale, the chief executive officer owned 124,075 shares in the company, valued at $31,214,788.50. The trade was a 13.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 40,725 shares of company stock worth $10,213,222. 15.38% of the stock is owned by insiders.

Garmin Trading Down 0.5%

Shares of GRMN stock opened at $259.41 on Friday. Garmin Ltd. has a 1 year low of $178.74 and a 1 year high of $273.32. The firm’s fifty day moving average price is $245.40 and its two-hundred day moving average price is $223.26. The firm has a market capitalization of $50.04 billion, a P/E ratio of 30.16, a PEG ratio of 3.12 and a beta of 0.96.

Garmin (NYSE:GRMN) last issued its quarterly earnings results on Wednesday, February 18th. The scientific and technical instruments company reported $2.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.39 by $0.40. Garmin had a net margin of 22.96% and a return on equity of 19.64%. The firm had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.01 billion. During the same period in the previous year, the business earned $2.41 EPS. 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 research analysts forecast that Garmin Ltd. will post 9.41 EPS for the current fiscal year.

Garmin Dividend Announcement

The firm also recently declared 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. This represents a $4.20 annualized dividend and a yield of 1.6%. The ex-dividend date is Friday, March 12th. Garmin’s payout ratio is presently 48.84%.

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.