Aster Capital Management DIFC Ltd Sells 6,152 Shares of Garmin Ltd. $GRMN

Aster Capital Management DIFC Ltd reduced its holdings in Garmin Ltd. (NYSE:GRMN) by 79.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,589 shares of the scientific and technical instruments company’s stock after selling 6,152 shares during the period. Aster Capital Management DIFC Ltd’s holdings in Garmin were worth $391,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quaker Wealth Management LLC increased its position in shares of Garmin by 200.0% in the second quarter. Quaker Wealth Management LLC now owns 132 shares of the scientific and technical instruments company’s stock valued at $28,000 after acquiring an additional 264 shares during the last quarter. Richardson Financial Services Inc. grew its stake 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 in the last quarter. Cornerstone Planning Group LLC grew its stake in Garmin by 788.9% in the third quarter. Cornerstone Planning Group LLC now owns 160 shares of the scientific and technical instruments company’s stock valued at $39,000 after purchasing an additional 142 shares in the last quarter. Tradewinds Capital Management LLC acquired a new position in shares of Garmin during the 3rd quarter worth approximately $44,000. Finally, SJS Investment Consulting Inc. raised its stake in shares of Garmin by 1,530.8% during the 3rd quarter. SJS Investment Consulting Inc. now owns 212 shares of the scientific and technical instruments company’s stock worth $52,000 after purchasing an additional 199 shares in the last quarter. 81.60% of the stock is owned by institutional investors.

Garmin Trading Down 0.7%

Garmin stock opened at $252.42 on Friday. The company has a market capitalization of $48.59 billion, a price-to-earnings ratio of 29.35, a PEG ratio of 3.04 and a beta of 1.00. Garmin Ltd. has a 12 month low of $169.26 and a 12 month high of $261.69. The stock’s 50 day moving average is $213.48 and its 200-day moving average is $221.37.

Garmin (NYSE:GRMN) last issued its quarterly earnings data on Wednesday, February 18th. The scientific and technical instruments company reported $2.79 earnings per share for the quarter, topping 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 business had revenue of $2.12 billion during the quarter, compared to analysts’ expectations of $2.01 billion. During the same quarter in the previous year, the company earned $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 predict that Garmin Ltd. will post 7.8 earnings per share for the current fiscal year.

Garmin Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 26th. Investors of record on Friday, March 12th will be given a dividend of $1.05 per share. The ex-dividend date is Friday, March 12th. This represents a $4.20 annualized dividend and a dividend yield of 1.7%. Garmin’s dividend payout ratio (DPR) is currently 41.86%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on GRMN. Zacks Research upgraded shares of Garmin from a “hold” rating to a “strong-buy” rating in a report on Monday, February 23rd. Longbow Research raised shares of Garmin from a “neutral” rating to a “buy” rating and set a $250.00 price objective for the company in a research report on Wednesday, December 3rd. Barclays set a $240.00 target price on shares of Garmin in a report on Thursday, February 19th. Weiss Ratings reiterated a “buy (b)” rating on shares of Garmin in a research note on Thursday, January 22nd. Finally, Tigress Financial boosted their price target on Garmin from $310.00 to $320.00 and gave the stock a “strong-buy” rating in a research report on Friday, February 20th. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $254.00.

Insiders Place Their Bets

In other news, VP Susan Lyman sold 3,805 shares of Garmin stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $251.32, for a total value of $956,272.60. Following the transaction, the vice president owned 7,471 shares in the company, valued at approximately $1,877,611.72. This trade represents a 33.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Douglas G. Boessen sold 3,487 shares of the business’s stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $251.66, for a total value of $877,538.42. Following the transaction, the chief financial officer directly owned 28,049 shares of the company’s stock, valued at $7,058,811.34. This trade represents a 11.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 57,319 shares of company stock valued at $13,650,815 over the last three months. 15.38% of the stock is owned by corporate insiders.

Garmin News Summary

Here are the key news stories impacting Garmin this week:

• Positive Sentiment: Rare institutional inflows continue to target Garmin, a long-term bullish technical/fund flow signal that some investors view as a structural tailwind. This can attract new demand and partly offset selling pressure. Read More.
• Neutral Sentiment: Despite the sales, insiders still retain sizable holdings (for example, CEO Clifton Pemble owns 124,075 shares after his sale), which can temper concerns that leadership is abandoning the stock. Read More.
• Negative Sentiment: Large, coordinated insider selling likely pressured the share price: CEO Clifton Pemble sold 19,914 shares (~$5.01M), COO Patrick Desbois sold 6,694 shares (~$1.68M), EVP Matthew Munn sold 5,275 shares (~$1.32M), CFO Douglas Boessen sold 3,487 shares (~$877.5K), and VP Susan Lyman sold 3,805 shares (~$956K). These trades represent double-digit percentage reductions for several executives and are being interpreted by some investors as a negative signal or as near-term supply hitting the market. SEC filings for each sale: Read More., Read More., Read More., Read More., Read More.

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.