Wealth Enhancement Advisory Services LLC Sells 49,292 Shares of Garmin Ltd. $GRMN

Wealth Enhancement Advisory Services LLC decreased its stake in Garmin Ltd. (NYSE:GRMN) by 72.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,077 shares of the scientific and technical instruments company’s stock after selling 49,292 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Garmin were worth $3,994,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Richardson Financial Services Inc. grew its position in Garmin by 62.2% in the 3rd quarter. Richardson Financial Services Inc. now owns 133 shares of the scientific and technical instruments company’s stock worth $33,000 after purchasing an additional 51 shares during the last quarter. Cornerstone Planning Group LLC lifted its stake in shares of Garmin by 788.9% in the third quarter. Cornerstone Planning Group LLC now owns 160 shares of the scientific and technical instruments company’s stock valued at $39,000 after buying an additional 142 shares during the period. Tradewinds Capital Management LLC acquired a new stake in Garmin during the third quarter worth about $44,000. Newbridge Financial Services Group Inc. increased its stake in Garmin by 96.9% during the second quarter. Newbridge Financial Services Group Inc. now owns 250 shares of the scientific and technical instruments company’s stock valued at $52,000 after acquiring an additional 123 shares during the period. Finally, SJS Investment Consulting Inc. raised its holdings in Garmin by 1,530.8% in the 3rd quarter. SJS Investment Consulting Inc. now owns 212 shares of the scientific and technical instruments company’s stock valued at $52,000 after acquiring an additional 199 shares in the last quarter. 81.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have commented on the company. JPMorgan Chase & Co. raised their price objective on Garmin from $250.00 to $265.00 and gave the stock a “neutral” rating in a research report on Thursday, February 19th. Barclays set a $240.00 target price on Garmin in a research note on Thursday, February 19th. Longbow Research raised 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. Tigress Financial boosted their price target 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. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Garmin in a research note on Thursday, January 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $254.00.

Garmin Trading Down 1.8%

GRMN stock opened at $226.01 on Tuesday. Garmin Ltd. has a 1-year low of $169.26 and a 1-year high of $261.69. The business’s 50 day moving average is $226.49 and its 200-day moving average is $221.59. The firm has a market cap of $43.50 billion, a P/E ratio of 26.28, a P/E/G ratio of 2.76 and a beta of 0.94.

Garmin (NYSE:GRMN) last posted its earnings results on Wednesday, February 18th. The scientific and technical instruments company reported $2.79 EPS for the quarter, topping 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 during the quarter, compared to the consensus estimate of $2.01 billion. During the same quarter last year, the company earned $2.41 EPS. Garmin’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. Sell-side analysts forecast that Garmin Ltd. will post 7.8 EPS for the current year.

Garmin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 26th. Stockholders of record on Friday, March 12th will be paid a $1.05 dividend. This represents a $4.20 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Friday, March 12th. Garmin’s payout ratio is currently 41.86%.

Insiders Place Their Bets

In related news, CFO Douglas G. Boessen sold 3,487 shares of the stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $251.66, for a total transaction of $877,538.42. Following the completion of the sale, the chief financial officer owned 28,049 shares in the company, valued at $7,058,811.34. This trade represents a 11.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Patrick Desbois sold 6,694 shares of Garmin stock in a transaction dated 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 transaction, the chief operating officer directly owned 58,540 shares of the company’s stock, valued at $14,731,591. This represents a 10.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 44,403 shares of company stock worth $10,987,074 in the last quarter. 19.54% of the stock is owned by corporate insiders.

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.