Chicago Partners Investment Group LLC Trims Position in Garmin Ltd. $GRMN

Chicago Partners Investment Group LLC lowered its position in shares of Garmin Ltd. (NYSE:GRMN) by 34.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,991 shares of the scientific and technical instruments company’s stock after selling 2,638 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in Garmin were worth $1,029,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Alliancebernstein L.P. grew its position in shares of Garmin by 649.2% in the third quarter. Alliancebernstein L.P. now owns 1,256,668 shares of the scientific and technical instruments company’s stock valued at $309,417,000 after purchasing an additional 1,088,938 shares during the period. Vanguard Group Inc. grew its holdings in Garmin by 2.5% in the 3rd quarter. Vanguard Group Inc. now owns 20,197,564 shares of the scientific and technical instruments company’s stock valued at $4,973,044,000 after buying an additional 499,235 shares during the period. KBC Group NV grew its holdings in Garmin by 113.6% in the 4th quarter. KBC Group NV now owns 561,291 shares of the scientific and technical instruments company’s stock valued at $113,859,000 after buying an additional 298,462 shares during the period. Lazard Asset Management LLC increased its stake in shares of Garmin by 530.5% during the 3rd quarter. Lazard Asset Management LLC now owns 351,690 shares of the scientific and technical instruments company’s stock valued at $86,593,000 after acquiring an additional 295,914 shares during the last quarter. Finally, Man Group plc increased its stake in shares of Garmin by 302.5% during the 3rd quarter. Man Group plc now owns 244,679 shares of the scientific and technical instruments company’s stock valued at $60,245,000 after acquiring an additional 183,889 shares during the last quarter. 81.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on GRMN. Tigress Financial raised their target price 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. Barclays set a $240.00 price target on shares of Garmin in a research note on Thursday, February 19th. JPMorgan Chase & Co. lifted their price target on shares of Garmin from $265.00 to $285.00 and gave the company a “neutral” rating in a report on Thursday, April 16th. Weiss Ratings reissued a “buy (b)” rating on shares of Garmin in a research note on Thursday, January 22nd. Finally, Zacks Research upgraded Garmin from a “hold” rating to a “strong-buy” rating in a report on Monday, February 23rd. Two 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 given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $258.00.

Garmin Stock Performance

GRMN opened at $259.41 on Monday. Garmin Ltd. has a 1 year low of $178.74 and a 1 year high of $273.32. The firm has a 50 day moving average price of $245.40 and a 200 day moving average price of $223.01. The company has a market cap of $50.04 billion, a PE ratio of 30.16, a price-to-earnings-growth ratio of 3.10 and a beta of 0.96.

Garmin (NYSE:GRMN) last announced its quarterly earnings results on Wednesday, February 18th. The scientific and technical instruments company reported $2.79 earnings per share for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $2.01 billion. During the same period in the previous year, the company posted $2.41 earnings per share. Garmin’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. On average, sell-side analysts predict that Garmin Ltd. will post 9.41 earnings per share for the current year.

Garmin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 26th. Shareholders of record on Friday, March 12th will be given a $1.05 dividend. The ex-dividend date of this dividend is Friday, March 12th. This represents a $4.20 annualized dividend and a yield of 1.6%. Garmin’s dividend payout ratio (DPR) is 41.86%.

Insider Buying and Selling

In other Garmin news, EVP Matthew Munn sold 5,275 shares of the business’s stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $250.97, for a total transaction of $1,323,866.75. Following the transaction, the executive vice president owned 9,876 shares in the company, valued at $2,478,579.72. The trade was a 34.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Patrick Desbois sold 6,694 shares of the stock in a transaction dated 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 owned 58,540 shares of the company’s stock, valued at approximately $14,731,591. This trade represents a 10.26% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 40,725 shares of company stock valued at $10,213,222 over the last ninety days. Insiders own 19.54% of the company’s stock.

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.