Ethic Inc. Has $4.98 Million Position in Garmin Ltd. $GRMN

Ethic Inc. reduced its stake in shares of Garmin Ltd. (NYSE:GRMN) by 14.4% during the 4th quarter, HoldingsChannel reports. The fund owned 24,554 shares of the scientific and technical instruments company’s stock after selling 4,125 shares during the period. Ethic Inc.’s holdings in Garmin were worth $4,981,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of GRMN. Daymark Wealth Partners LLC raised its holdings in shares of Garmin by 0.7% during the fourth quarter. Daymark Wealth Partners LLC now owns 6,813 shares of the scientific and technical instruments company’s stock worth $1,382,000 after acquiring an additional 48 shares in the last quarter. SYM FINANCIAL Corp grew its stake in Garmin by 4.0% in the third 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. S.A. Mason LLC grew its stake in Garmin by 2.4% in the fourth quarter. S.A. Mason LLC now owns 2,150 shares of the scientific and technical instruments company’s stock valued at $436,000 after purchasing an additional 50 shares in the last quarter. Richardson Financial Services Inc. increased 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. Finally, Quadrant Capital Group LLC increased its position in Garmin by 1.0% in the 3rd quarter. Quadrant Capital Group LLC now owns 4,917 shares of the scientific and technical instruments company’s stock worth $1,211,000 after purchasing an additional 51 shares during the last quarter. 81.60% of the stock is owned by institutional investors and hedge funds.

Garmin Price Performance

Shares of NYSE:GRMN opened at $240.11 on Monday. Garmin Ltd. has a fifty-two week low of $186.67 and a fifty-two week high of $273.32. The business has a 50-day moving average of $246.88 and a two-hundred day moving average of $222.86. The stock has a market capitalization of $46.31 billion, a P/E ratio of 26.77, a P/E/G ratio of 2.83 and a beta of 0.94.

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, beating analysts’ consensus estimates of $1.84 by $0.24. Garmin had a return on equity of 20.07% and a net margin of 23.26%.The business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same quarter in the prior year, the firm posted $1.61 EPS. The firm’s revenue for the quarter was up 14.0% on a year-over-year basis. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. As a group, research analysts expect that Garmin Ltd. will post 9.57 EPS for the current fiscal year.

Garmin Dividend Announcement

The business also recently declared 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 annualized dividend and a yield of 1.7%. The ex-dividend date is Friday, March 12th. Garmin’s dividend payout ratio (DPR) is 40.13%.

Insider Activity at Garmin

In related news, CEO Clifton A. Pemble sold 19,914 shares of the company’s stock in a transaction on 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 directly owned 124,075 shares of the company’s stock, valued at approximately $31,214,788.50. This represents a 13.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Douglas G. Boessen sold 3,487 shares of the firm’s stock in a transaction on 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 transaction, the chief financial officer owned 28,049 shares in the company, valued at $7,058,811.34. The trade was a 11.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 40,725 shares of company stock valued at $10,213,222. 19.54% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

GRMN has been the subject of several research reports. Tigress Financial lifted their price target on Garmin from $310.00 to $320.00 and gave the company a “strong-buy” rating in a report on Friday, February 20th. Weiss Ratings restated a “buy (b)” rating on shares of Garmin in a report on Thursday, January 22nd. Morgan Stanley set a $249.00 price objective on shares of Garmin in a research report on Thursday, April 30th. Barclays reduced their target price on shares of Garmin from $240.00 to $238.00 and set an “equal weight” rating for the company in a research note on Thursday, April 30th. Finally, Zacks Research downgraded shares of Garmin from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Garmin currently has an average rating of “Moderate Buy” and a consensus price target of $268.40.

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.