Fieldview Capital Management LLC Sells 23,369 Shares of Garmin Ltd. $GRMN

Fieldview Capital Management LLC reduced its holdings in Garmin Ltd. (NYSE:GRMN) by 83.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,528 shares of the scientific and technical instruments company’s stock after selling 23,369 shares during the quarter. Fieldview Capital Management LLC’s holdings in Garmin were worth $1,115,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Norges Bank bought a new position in Garmin in the 2nd quarter valued at $410,304,000. Vanguard Group Inc. grew its holdings in shares of Garmin by 6.9% during the second quarter. Vanguard Group Inc. now owns 19,698,329 shares of the scientific and technical instruments company’s stock worth $4,111,435,000 after purchasing an additional 1,273,163 shares during the last quarter. Amundi grew its holdings in shares of Garmin by 138.0% during the second quarter. Amundi now owns 1,158,702 shares of the scientific and technical instruments company’s stock worth $247,255,000 after purchasing an additional 671,859 shares during the last quarter. Artisan Partners Limited Partnership increased its stake in shares of 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. Finally, KBC Group NV increased its stake in shares of Garmin by 643.3% in the second quarter. KBC Group NV now owns 202,874 shares of the scientific and technical instruments company’s stock valued at $42,344,000 after buying an additional 175,582 shares in the last quarter. 81.60% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Garmin

In other Garmin news, EVP Matthew Munn sold 5,275 shares of the stock in a transaction dated 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Susan Lyman sold 3,805 shares of the firm’s stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $251.32, for a total value of $956,272.60. Following the sale, the vice president directly owned 7,471 shares in the company, valued at approximately $1,877,611.72. This represents a 33.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 57,319 shares of company stock worth $13,650,815 in the last three months. 19.54% of the stock is owned by insiders.

Garmin Stock Down 0.2%

Shares of GRMN opened at $242.99 on Tuesday. The stock’s fifty day simple moving average is $218.56 and its 200-day simple moving average is $221.82. The firm has a market capitalization of $46.77 billion, a PE ratio of 28.25, a price-to-earnings-growth ratio of 2.92 and a beta of 0.94. Garmin Ltd. has a 12-month low of $169.26 and a 12-month high of $261.69.

Garmin (NYSE:GRMN) last announced its quarterly earnings data on Wednesday, February 18th. The scientific and technical instruments company reported $2.79 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $2.12 billion for the quarter, compared to analysts’ expectations of $2.01 billion. During the same period last year, the firm earned $2.41 earnings per share. The business’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. Analysts anticipate that Garmin Ltd. will post 7.8 EPS for the current year.

Garmin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 26th. Investors of record on Friday, March 12th will be given a $1.05 dividend. The ex-dividend date is Friday, March 12th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 1.7%. Garmin’s dividend payout ratio is currently 41.86%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on GRMN shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Garmin in a research report on Thursday, January 22nd. Zacks Research upgraded shares of Garmin from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 23rd. Longbow Research raised shares of Garmin from a “neutral” rating to a “buy” rating and set a $250.00 target price for the company in a research note on Wednesday, December 3rd. Tigress Financial upped their target price 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. Finally, Barclays set a $240.00 price target on shares of Garmin in a research note on Thursday, February 19th. Two investment 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 stock. According to data from MarketBeat.com, Garmin currently has a consensus rating of “Moderate Buy” and an average price target of $254.00.

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.