Kestra Private Wealth Services LLC Reduces Stock Position in Garmin Ltd. $GRMN

Kestra Private Wealth Services LLC lessened its holdings in Garmin Ltd. (NYSE:GRMN) by 33.3% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,340 shares of the scientific and technical instruments company’s stock after selling 3,162 shares during the period. Kestra Private Wealth Services LLC’s holdings in Garmin were worth $1,286,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in GRMN. Vanguard Group Inc. increased 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 acquiring an additional 499,235 shares during the last quarter. State Street Corp increased its stake in Garmin by 1.8% in the third quarter. State Street Corp now owns 7,250,844 shares of the scientific and technical instruments company’s stock valued at $1,785,304,000 after acquiring an additional 126,677 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in 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 acquiring an additional 16,622 shares during the last quarter. Disciplined Growth Investors Inc. MN increased its stake in Garmin by 0.4% in the second quarter. Disciplined Growth Investors Inc. MN now owns 1,419,365 shares of the scientific and technical instruments company’s stock valued at $296,250,000 after acquiring an additional 5,213 shares during the last quarter. Finally, AQR Capital Management LLC increased its stake in Garmin by 15.7% in the third quarter. AQR Capital Management LLC now owns 1,348,955 shares of the scientific and technical instruments company’s stock valued at $330,373,000 after acquiring an additional 182,548 shares during the last quarter. Hedge funds and other institutional investors own 81.60% of the company’s stock.

Insider Buying and Selling

In related news, CFO Douglas G. Boessen sold 3,487 shares of the business’s stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $251.66, for a total value of $877,538.42. Following the completion of the transaction, the chief financial officer directly owned 28,049 shares in the company, valued at $7,058,811.34. The trade was a 11.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Clifton A. Pemble sold 19,914 shares of Garmin stock in a transaction that occurred on Thursday, February 26th. The stock was 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 directly owned 124,075 shares of the company’s stock, valued at approximately $31,214,788.50. This trade represents a 13.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 40,725 shares of company stock worth $10,213,222 over the last 90 days. 15.38% of the stock is currently owned by company insiders.

Garmin Price Performance

Shares of GRMN opened at $242.32 on Friday. Garmin Ltd. has a one year low of $184.47 and a one year high of $273.32. The company has a 50-day simple moving average of $247.43 and a two-hundred day simple moving average of $223.42. The firm has a market capitalization of $46.74 billion, a PE ratio of 27.01, a price-to-earnings-growth ratio of 3.00 and a beta of 0.96.

Garmin (NYSE:GRMN) last issued its quarterly earnings data on Wednesday, April 29th. The scientific and technical instruments company reported $2.08 EPS for the quarter, topping the consensus estimate of $1.84 by $0.24. Garmin had a net margin of 23.26% and a return on equity of 20.07%. The business had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.72 billion. During the same period last year, the business posted $1.61 earnings per share. Garmin’s quarterly revenue was up 14.0% compared to the same quarter last year. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. Analysts expect that Garmin Ltd. will post 9.43 EPS for the current fiscal 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 issued a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Friday, March 12th. Garmin’s payout ratio is presently 46.82%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on GRMN. Barclays reduced their target price on Garmin from $240.00 to $238.00 and set an “equal weight” rating on the stock in a research note on Thursday. Tigress Financial raised their price objective on Garmin from $310.00 to $320.00 and gave the company a “strong-buy” rating in a research note on Friday, February 20th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Garmin in a research note on Thursday, January 22nd. Morgan Stanley set a $249.00 price objective on Garmin in a research note on Thursday. Finally, JPMorgan Chase & Co. raised their price objective on Garmin from $265.00 to $285.00 and gave the company a “neutral” rating in a research note on Thursday, April 16th. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Garmin has an average rating of “Moderate Buy” and a consensus price target of $268.40.

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.