Groupama Asset Managment Reduces Stock Position in Garmin Ltd. $GRMN

Groupama Asset Managment trimmed its holdings in Garmin Ltd. (NYSE:GRMN) by 54.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,138 shares of the scientific and technical instruments company’s stock after selling 2,535 shares during the period. Groupama Asset Managment’s holdings in Garmin were worth $526,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Richardson Financial Services Inc. increased its stake in shares of 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 worth $33,000 after buying an additional 51 shares during 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 bought a new position in Garmin during the 3rd quarter valued at $44,000. Newbridge Financial Services Group Inc. grew its holdings in Garmin by 96.9% during 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 acquiring an additional 123 shares in the last quarter. Finally, SJS Investment Consulting Inc. grew its holdings in 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 acquiring an additional 199 shares in the last quarter. 81.60% of the stock is currently owned by hedge funds and other institutional investors.

Garmin Price Performance

GRMN stock opened at $232.51 on Friday. The firm has a market cap of $44.75 billion, a price-to-earnings ratio of 27.04, a PEG ratio of 2.82 and a beta of 0.94. Garmin Ltd. has a 1-year low of $169.26 and a 1-year high of $261.69. The firm has a fifty day moving average price of $223.62 and a two-hundred day moving average price of $221.88.

Garmin (NYSE:GRMN) last posted its quarterly earnings results on Wednesday, February 18th. The scientific and technical instruments company reported $2.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $2.01 billion. During the same period last year, the firm posted $2.41 EPS. The company’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. As a group, analysts expect that Garmin Ltd. will post 7.8 EPS for the current fiscal year.

Garmin Dividend Announcement

The firm 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 $1.05 dividend. The ex-dividend date of this dividend is Friday, March 12th. This represents a $4.20 dividend on an annualized basis and a yield of 1.8%. Garmin’s dividend payout ratio (DPR) is currently 41.86%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on GRMN shares. 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 research note on Wednesday, December 3rd. JPMorgan Chase & Co. lifted their price target on Garmin from $250.00 to $265.00 and gave the stock a “neutral” rating in a research note on Thursday, February 19th. Tigress Financial boosted their price objective on Garmin from $310.00 to $320.00 and gave the company a “strong-buy” rating in a report on Friday, February 20th. Weiss Ratings restated a “buy (b)” rating on shares of Garmin in a research note on Thursday, January 22nd. Finally, Zacks Research raised Garmin from a “hold” rating to a “strong-buy” rating in a report on Monday, February 23rd. Two equities research 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, Garmin currently has a consensus rating of “Moderate Buy” and a consensus target price of $254.00.

Insider Buying and Selling

In related news, EVP Matthew Munn sold 5,275 shares of the business’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 transaction of $1,323,866.75. Following the completion of the transaction, the executive vice president owned 9,876 shares in the company, valued at $2,478,579.72. The trade was a 34.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Patrick Desbois sold 6,694 shares of the company’s stock in a transaction on Thursday, February 26th. The stock was 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 approximately $14,731,591. The trade was a 10.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 44,403 shares of company stock valued at $10,987,074 over the last 90 days. 15.38% of the stock is owned by corporate insiders.

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.