Garmin Ltd. $GRMN Shares Sold by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. lessened its position in shares of Garmin Ltd. (NYSE:GRMN) by 86.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,280 shares of the scientific and technical instruments company’s stock after selling 32,419 shares during the quarter. Jefferies Financial Group Inc.’s holdings in Garmin were worth $1,300,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Garmin during the second quarter worth about $410,304,000. Vanguard Group Inc. increased its holdings in Garmin by 6.9% in the 2nd quarter. Vanguard Group Inc. now owns 19,698,329 shares of the scientific and technical instruments company’s stock worth $4,111,435,000 after buying an additional 1,273,163 shares during the period. Amundi increased its holdings in Garmin by 138.0% in the 2nd quarter. Amundi now owns 1,158,702 shares of the scientific and technical instruments company’s stock worth $247,255,000 after buying an additional 671,859 shares during the period. Artisan Partners Limited Partnership raised its position in Garmin by 6.4% during the 2nd quarter. Artisan Partners Limited Partnership now owns 5,892,150 shares of the scientific and technical instruments company’s stock worth $1,229,810,000 after buying an additional 356,161 shares during the last quarter. Finally, KBC Group NV raised its position in Garmin by 643.3% during the 2nd quarter. KBC Group NV now owns 202,874 shares of the scientific and technical instruments company’s stock worth $42,344,000 after buying an additional 175,582 shares during the last quarter. 81.60% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Garmin

In other news, EVP Matthew Munn sold 5,275 shares of the firm’s stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $250.97, for a total value 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. This trade represents a 34.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Clifton A. Pemble sold 19,914 shares of Garmin stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $251.58, for a total value of $5,009,964.12. Following the completion of the sale, the chief executive officer directly owned 124,075 shares in the company, valued at $31,214,788.50. This represents a 13.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 57,319 shares of company stock valued at $13,650,815. 15.38% of the stock is owned by insiders.

Garmin Stock Down 2.2%

Shares of NYSE GRMN opened at $236.02 on Thursday. The company’s 50-day simple moving average is $219.96 and its 200-day simple moving average is $221.96. Garmin Ltd. has a 52-week low of $169.26 and a 52-week high of $261.69. The firm has a market cap of $45.43 billion, a price-to-earnings ratio of 27.44, a price-to-earnings-growth ratio of 2.89 and a beta of 0.94.

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

Garmin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 26th. Shareholders of record on Friday, March 12th will be issued a dividend of $1.05 per share. The ex-dividend date of this dividend is Friday, March 12th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 1.8%. Garmin’s dividend payout ratio is presently 41.86%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on GRMN. Tigress Financial upped their price objective on shares of Garmin from $310.00 to $320.00 and gave the company a “strong-buy” rating in a report on Friday, February 20th. JPMorgan Chase & Co. raised their target price on shares of Garmin from $250.00 to $265.00 and gave the stock a “neutral” rating in a report on Thursday, February 19th. Longbow Research upgraded shares of Garmin from a “neutral” rating to a “buy” rating and set a $250.00 target price for the company in a research report on Wednesday, December 3rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Garmin in a report on Thursday, January 22nd. Finally, Barclays set a $240.00 price target on Garmin in a research report on Thursday, February 19th. Two 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 issued a Sell rating to the company. According to data from MarketBeat.com, Garmin presently has a consensus rating of “Moderate Buy” and an average target price of $254.00.

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.