Johnson Financial Group Inc. Lowers Position in Garmin Ltd. $GRMN

Johnson Financial Group Inc. trimmed its position in shares of Garmin Ltd. (NYSE:GRMN) by 9.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,990 shares of the scientific and technical instruments company’s stock after selling 2,148 shares during the period. Johnson Financial Group Inc.’s holdings in Garmin were worth $5,168,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in Garmin by 2.5% in the third quarter. Vanguard Group Inc. now owns 20,197,564 shares of the scientific and technical instruments company’s stock valued at $4,973,044,000 after purchasing an additional 499,235 shares in the last quarter. Artisan Partners Limited Partnership increased its holdings in Garmin by 6.4% in the second quarter. Artisan Partners Limited Partnership now owns 5,892,150 shares of the scientific and technical instruments company’s stock valued at $1,229,810,000 after buying an additional 356,161 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Garmin by 1.3% during the second quarter. Geode Capital Management LLC now owns 4,606,511 shares of the scientific and technical instruments company’s stock valued at $958,405,000 after acquiring an additional 59,321 shares during the last quarter. Norges Bank acquired a new stake in shares of Garmin during the 2nd quarter valued at $410,304,000. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Garmin by 1.1% in the third quarter. Dimensional Fund Advisors LP now owns 1,494,519 shares of the scientific and technical instruments company’s stock valued at $367,964,000 after purchasing an additional 16,622 shares during the last quarter. Hedge funds and other institutional investors own 81.60% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Zacks Research raised shares of Garmin from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 23rd. Tigress Financial raised their price objective on Garmin from $310.00 to $320.00 and gave the stock a “strong-buy” rating in a report on Friday, February 20th. Weiss Ratings reissued a “buy (b)” rating on shares of Garmin in a report on Thursday, January 22nd. JPMorgan Chase & Co. lifted their price objective on shares of Garmin from $250.00 to $265.00 and gave the stock a “neutral” rating in a research report on Thursday, February 19th. Finally, Longbow Research raised shares of Garmin from a “neutral” rating to a “buy” rating and set a $250.00 price objective on the stock in a research note on Wednesday, December 3rd. 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 assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $254.00.

Insider Buying and Selling at Garmin

In other news, EVP Matthew Munn sold 5,275 shares of the company’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 completion of the sale, the executive vice president directly owned 9,876 shares in the company, valued at $2,478,579.72. This represents a 34.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Clifton A. Pemble sold 19,914 shares of Garmin stock in a transaction dated 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 transaction, the chief executive officer owned 124,075 shares in the company, valued at $31,214,788.50. The trade was a 13.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 57,319 shares of company stock worth $13,650,815. Company insiders own 15.38% of the company’s stock.

Garmin Stock Down 0.2%

NYSE:GRMN opened at $235.64 on Friday. Garmin Ltd. has a fifty-two week low of $169.26 and a fifty-two week high of $261.69. The firm’s fifty day simple moving average is $220.61 and its 200-day simple moving average is $222.05. The stock has a market cap of $45.36 billion, a PE ratio of 27.40, a price-to-earnings-growth ratio of 2.83 and a beta of 0.94.

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, 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 business had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.01 billion. During the same quarter last year, the firm earned $2.41 EPS. The company’s 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 analysts anticipate that Garmin Ltd. will post 7.8 earnings per share for the current year.

Garmin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 26th. Investors of record on Friday, March 12th will be paid a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Friday, March 12th. Garmin’s payout ratio is currently 41.86%.

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.