First Trust Advisors LP Has $82.02 Million Position in Garmin Ltd. $GRMN

First Trust Advisors LP cut its stake in shares of Garmin Ltd. (NYSE:GRMN) by 16.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 333,108 shares of the scientific and technical instruments company’s stock after selling 67,607 shares during the quarter. First Trust Advisors LP’s holdings in Garmin were worth $82,018,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in GRMN. Norges Bank acquired a new stake in shares of Garmin during the 2nd quarter worth about $410,304,000. Vanguard Group Inc. boosted its position in Garmin by 6.9% in the second quarter. Vanguard Group Inc. now owns 19,698,329 shares of the scientific and technical instruments company’s stock valued at $4,111,435,000 after buying an additional 1,273,163 shares in the last quarter. Amundi boosted its position in Garmin by 138.0% in the second quarter. Amundi now owns 1,158,702 shares of the scientific and technical instruments company’s stock valued at $247,255,000 after buying an additional 671,859 shares in the last quarter. Artisan Partners Limited Partnership grew its stake in Garmin by 6.4% during the second 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 increased its holdings in shares of Garmin by 643.3% during the second 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 in the last quarter. Institutional investors own 81.60% of the company’s stock.

Garmin Stock Down 0.2%

GRMN stock opened at $242.99 on Tuesday. The company has a market cap of $46.77 billion, a P/E ratio of 28.25, a PEG ratio of 2.92 and a beta of 0.94. Garmin Ltd. has a twelve month low of $169.26 and a twelve month high of $261.69. The business has a fifty day moving average of $218.56 and a 200-day moving average of $221.82.

Garmin (NYSE:GRMN) last issued 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. The business had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.01 billion. Garmin had a return on equity of 19.64% and a net margin of 22.96%.The firm’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.41 earnings per share. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. As a group, equities research analysts anticipate that Garmin Ltd. will post 7.8 earnings per share for the current fiscal year.

Garmin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 26th. Investors of record on Friday, March 12th will be paid 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 of this dividend is Friday, March 12th. Garmin’s payout ratio is 41.86%.

Insider Buying and Selling at Garmin

In other Garmin news, EVP Matthew Munn sold 5,275 shares of Garmin stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $250.97, for a total transaction of $1,323,866.75. Following the completion of the sale, the executive vice president owned 9,876 shares of the company’s stock, valued at approximately $2,478,579.72. The trade was a 34.82% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Patrick Desbois sold 6,694 shares of the company’s 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 sale, the chief operating officer owned 58,540 shares of the company’s stock, valued at $14,731,591. The trade was a 10.26% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 57,319 shares of company stock valued at $13,650,815 over the last 90 days. Company insiders own 19.54% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Barclays set a $240.00 target price on shares of Garmin in a research note on Thursday, February 19th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Garmin in a report on Thursday, January 22nd. JPMorgan Chase & Co. lifted their price objective on Garmin from $250.00 to $265.00 and gave the company a “neutral” rating in a research report on Thursday, February 19th. Tigress Financial raised their target price on Garmin from $310.00 to $320.00 and gave the company a “strong-buy” rating in a research note on Friday, February 20th. Finally, Zacks Research raised Garmin from a “hold” rating to a “strong-buy” rating in a report on Monday, February 23rd. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $254.00.

About Garmin

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.