Andra AP fonden Sells 51,087 Shares of Garmin Ltd. $GRMN

Andra AP fonden trimmed its holdings in shares of Garmin Ltd. (NYSE:GRMN) by 76.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,913 shares of the scientific and technical instruments company’s stock after selling 51,087 shares during the quarter. Andra AP fonden’s holdings in Garmin were worth $3,918,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Penserra Capital Management LLC lifted its holdings in Garmin by 43.4% during the 3rd quarter. Penserra Capital Management LLC now owns 22,496 shares of the scientific and technical instruments company’s stock worth $5,538,000 after buying an additional 6,806 shares during the period. EFG Asset Management Americas Corp. increased its stake in shares of Garmin by 34.1% in the second quarter. EFG Asset Management Americas Corp. now owns 10,455 shares of the scientific and technical instruments company’s stock valued at $2,182,000 after buying an additional 2,659 shares during the period. First Horizon Advisors Inc. raised its position in shares of Garmin by 4.2% during the second quarter. First Horizon Advisors Inc. now owns 121,552 shares of the scientific and technical instruments company’s stock worth $25,370,000 after acquiring an additional 4,943 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Garmin by 25.9% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,584 shares of the scientific and technical instruments company’s stock worth $5,314,000 after acquiring an additional 4,437 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Garmin by 4.7% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 429,030 shares of the scientific and technical instruments company’s stock worth $105,636,000 after acquiring an additional 19,360 shares during the period. 81.60% of the stock is currently owned by institutional investors and hedge funds.

Garmin Stock Performance

Shares of Garmin stock opened at $252.42 on Friday. The stock has a market capitalization of $48.59 billion, a PE ratio of 29.35, a price-to-earnings-growth ratio of 3.03 and a beta of 1.00. Garmin Ltd. has a 52 week low of $169.26 and a 52 week high of $261.69. The stock has a 50 day moving average price of $213.48 and a two-hundred day moving average price of $221.29.

Garmin (NYSE:GRMN) last issued its earnings results on Wednesday, February 18th. The scientific and technical instruments company reported $2.79 earnings per share for the quarter, topping analysts’ consensus estimates of $2.39 by $0.40. Garmin had a return on equity of 19.64% and a net margin of 22.96%.The company had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.01 billion. During the same period in the prior year, the firm earned $2.41 earnings per share. Garmin’s revenue for the quarter was up 16.6% on a year-over-year basis. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. Research analysts forecast that Garmin Ltd. will post 7.8 EPS for the current year.

Garmin Dividend Announcement

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

Trending Headlines about Garmin

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.

Insider Activity at Garmin

In related news, CEO Clifton A. Pemble sold 19,914 shares of the firm’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $251.58, for a total value of $5,009,964.12. Following the transaction, the chief executive officer owned 124,075 shares of the company’s stock, valued at approximately $31,214,788.50. This trade represents a 13.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Patrick Desbois sold 6,694 shares of Garmin 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 transaction, the chief operating officer owned 58,540 shares of the company’s stock, valued at $14,731,591. This trade represents a 10.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 57,319 shares of company stock valued at $13,650,815 over the last quarter. 15.38% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Garmin in a research report on Thursday, January 22nd. 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. Zacks Research raised shares of Garmin from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 23rd. Longbow Research upgraded shares of Garmin from a “neutral” rating to a “buy” rating and set a $250.00 target price on the stock in a report on Wednesday, December 3rd. Finally, Tigress Financial upped their price target 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. 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. According to data from MarketBeat, Garmin has an average rating of “Moderate Buy” and a consensus target price of $254.00.

Garmin Company 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.