Garmin Ltd. $GRMN Shares Sold by Paradigm Asset Management Co. LLC

Paradigm Asset Management Co. LLC trimmed its holdings in shares of Garmin Ltd. (NYSE:GRMN) by 32.5% during the third quarter, Holdings Channel reports. The fund owned 5,600 shares of the scientific and technical instruments company’s stock after selling 2,700 shares during the quarter. Paradigm Asset Management Co. LLC’s holdings in Garmin were worth $1,379,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Richardson Financial Services Inc. grew its position 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 buying an additional 51 shares in the last quarter. Cornerstone Planning Group LLC boosted its stake in Garmin by 788.9% during 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 acquiring an additional 142 shares during the last quarter. Tradewinds Capital Management LLC acquired a new position in Garmin during the 3rd quarter worth $44,000. Newbridge Financial Services Group Inc. increased its position in shares of 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 during the last quarter. Finally, SJS Investment Consulting Inc. increased its position in shares of 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 during the last quarter. Hedge funds and other institutional investors own 81.60% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on GRMN. Zacks Research upgraded Garmin from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 23rd. JPMorgan Chase & Co. increased their target price on Garmin from $250.00 to $265.00 and gave the stock a “neutral” rating in a report on Thursday, February 19th. Longbow Research upgraded Garmin from a “neutral” rating to a “buy” rating and set a $250.00 price target for the company in a report on Wednesday, December 3rd. Barclays set a $240.00 price objective on Garmin in a research note on Thursday, February 19th. Finally, Tigress Financial lifted their price objective on shares of Garmin from $310.00 to $320.00 and gave the stock a “strong-buy” rating in a report on Friday, February 20th. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $254.00.

Garmin Price Performance

NYSE:GRMN opened at $240.12 on Friday. The firm has a market capitalization of $46.22 billion, a P/E ratio of 27.92, a P/E/G ratio of 3.01 and a beta of 0.94. Garmin Ltd. has a 12-month low of $169.26 and a 12-month high of $261.69. The business has a 50 day simple moving average of $217.05 and a 200 day simple moving average of $221.78.

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 (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 company had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $2.01 billion. During the same quarter in the previous year, the company posted $2.41 earnings per share. The company’s revenue for the quarter was up 16.6% compared to the same quarter last year. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. Research analysts anticipate that Garmin Ltd. will post 7.8 EPS for the current fiscal year.

Garmin Announces Dividend

The company 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. 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 presently 41.86%.

Insider Activity at Garmin

In other news, CFO Douglas G. Boessen sold 3,487 shares of the business’s stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $251.66, for a total transaction of $877,538.42. Following the completion of the transaction, the chief financial officer directly owned 28,049 shares in the company, valued at approximately $7,058,811.34. The trade was a 11.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Matthew Munn sold 5,275 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the executive vice president owned 9,876 shares in the company, valued at approximately $2,478,579.72. This represents a 34.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 57,319 shares of company stock valued at $13,650,815. Company insiders own 15.38% of the company’s stock.

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.