Clark Capital Management Group Inc. Grows Holdings in Garmin Ltd. $GRMN

Clark Capital Management Group Inc. boosted its position in Garmin Ltd. (NYSE:GRMN) by 1.5% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 154,034 shares of the scientific and technical instruments company’s stock after acquiring an additional 2,217 shares during the quarter. Clark Capital Management Group Inc.’s holdings in Garmin were worth $37,926,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mather Group LLC. grew its stake in shares of Garmin by 1.2% during the third quarter. Mather Group LLC. now owns 3,749 shares of the scientific and technical instruments company’s stock valued at $923,000 after acquiring an additional 44 shares in the last quarter. Smith Moore & CO. boosted its holdings in Garmin by 4.3% in the second quarter. Smith Moore & CO. now owns 1,151 shares of the scientific and technical instruments company’s stock valued at $240,000 after purchasing an additional 47 shares during the last quarter. BSW Wealth Partners boosted its holdings in Garmin by 2.9% in the third quarter. BSW Wealth Partners now owns 1,724 shares of the scientific and technical instruments company’s stock valued at $425,000 after purchasing an additional 48 shares during the last quarter. SYM FINANCIAL Corp grew its stake in Garmin by 4.0% during the 3rd quarter. SYM FINANCIAL Corp now owns 1,294 shares of the scientific and technical instruments company’s stock valued at $319,000 after purchasing an additional 50 shares in the last quarter. Finally, Alpine Woods Capital Investors LLC grew its stake in Garmin by 0.6% during the 3rd quarter. Alpine Woods Capital Investors LLC now owns 9,314 shares of the scientific and technical instruments company’s stock valued at $2,293,000 after purchasing an additional 51 shares in the last quarter. 81.60% of the stock is owned by hedge funds and other institutional investors.

Garmin Trading Down 0.9%

Shares of GRMN opened at $233.55 on Monday. 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 $44.95 billion, a price-to-earnings ratio of 27.16, a PEG ratio of 2.80 and a beta of 0.94. The stock has a 50 day moving average of $221.24 and a 200-day moving average 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, beating the consensus estimate of $2.39 by $0.40. Garmin had a return on equity of 19.64% and a net margin of 22.96%.The business had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.01 billion. During the same period in the prior year, the company posted $2.41 EPS. The business’s revenue was up 16.6% compared to the same quarter last year. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. On average, sell-side analysts predict that Garmin Ltd. will post 7.8 earnings per share 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 dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Friday, March 12th. Garmin’s dividend payout ratio is 41.86%.

Insider Activity at Garmin

In related news, CEO Clifton A. Pemble sold 19,914 shares of the business’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $251.58, for a total transaction of $5,009,964.12. Following the completion of the sale, the chief executive officer owned 124,075 shares of the company’s stock, valued at $31,214,788.50. This represents a 13.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Susan Lyman sold 3,805 shares of the business’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $251.32, for a total transaction of $956,272.60. Following the sale, the vice president directly owned 7,471 shares of the company’s stock, valued at approximately $1,877,611.72. This represents a 33.74% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 57,319 shares of company stock valued at $13,650,815 in the last ninety days. 19.54% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

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