IFP Advisors Inc Increases Stock Holdings in Garmin Ltd. $GRMN

IFP Advisors Inc boosted its holdings in shares of Garmin Ltd. (NYSE:GRMN) by 93.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,382 shares of the scientific and technical instruments company’s stock after buying an additional 3,087 shares during the period. IFP Advisors Inc’s holdings in Garmin were worth $1,572,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GRMN. Richardson Financial Services Inc. grew its stake in shares of Garmin by 62.2% during the third quarter. Richardson Financial Services Inc. now owns 133 shares of the scientific and technical instruments company’s stock worth $33,000 after acquiring an additional 51 shares during the last quarter. Cornerstone Planning Group LLC raised its position in shares of Garmin by 788.9% in the 3rd 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 during the last quarter. Tradewinds Capital Management LLC purchased a new position in shares of Garmin in the 3rd quarter valued at approximately $44,000. Newbridge Financial Services Group Inc. boosted its stake in Garmin by 96.9% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 250 shares of the scientific and technical instruments company’s stock worth $52,000 after purchasing an additional 123 shares in the last quarter. Finally, SJS Investment Consulting Inc. boosted its stake in 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 worth $52,000 after purchasing an additional 199 shares in the last quarter. 81.60% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, VP Susan Lyman sold 3,805 shares of the stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $251.32, for a total transaction of $956,272.60. Following the transaction, the vice president owned 7,471 shares in the company, valued at $1,877,611.72. This trade represents a 33.74% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Patrick Desbois sold 6,694 shares of Garmin stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $251.65, for a total transaction 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 $14,731,591. This represents a 10.26% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 44,403 shares of company stock valued at $10,987,074 in the last 90 days. Corporate insiders own 15.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on GRMN. 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 note on Friday, February 20th. Zacks Research upgraded shares of Garmin from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 23rd. Weiss Ratings reissued a “buy (b)” rating on shares of Garmin in a research report on Thursday, January 22nd. Longbow Research upgraded Garmin from a “neutral” rating to a “buy” rating and set a $250.00 target price for the company in a research note on Wednesday, December 3rd. Finally, Barclays set a $240.00 price target on Garmin in a research report on Thursday, February 19th. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $254.00.

Garmin Stock Performance

Shares of Garmin stock opened at $232.51 on Friday. The firm has a 50-day simple moving average of $223.62 and a two-hundred day simple moving average of $221.80. The company has a market cap of $44.75 billion, a P/E ratio of 27.04, a price-to-earnings-growth ratio of 2.78 and a beta of 0.94. Garmin Ltd. has a fifty-two week low of $169.26 and a fifty-two week high of $261.69.

Garmin (NYSE:GRMN) last posted its earnings results on Wednesday, February 18th. The scientific and technical instruments company reported $2.79 EPS for the quarter, beating 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 firm had revenue of $2.12 billion for the quarter, compared to analysts’ expectations of $2.01 billion. During the same period last year, the firm earned $2.41 EPS. The company’s quarterly revenue was up 16.6% on a year-over-year basis. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. Equities 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. Shareholders of record on Friday, March 12th will be issued a $1.05 dividend. This represents a $4.20 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Friday, March 12th. Garmin’s dividend payout ratio (DPR) is presently 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.