Crossmark Global Holdings Inc. Sells 6,788 Shares of Garmin Ltd. $GRMN

Crossmark Global Holdings Inc. reduced its stake in Garmin Ltd. (NYSE:GRMN) by 43.7% during the 4th quarter, HoldingsChannel reports. The fund owned 8,753 shares of the scientific and technical instruments company’s stock after selling 6,788 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Garmin were worth $1,776,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Richardson Financial Services Inc. raised 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 valued at $33,000 after buying an additional 51 shares during the last quarter. Cornerstone Planning Group LLC raised its position in Garmin by 788.9% in the 3rd 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 last quarter. Torren Management LLC acquired a new stake in Garmin in the 4th quarter valued at approximately $41,000. GraniteShares Advisors LLC acquired a new stake in Garmin in the 4th quarter valued at approximately $41,000. Finally, Mascoma Wealth Management LLC acquired a new stake in Garmin in the 3rd quarter valued at approximately $54,000. 81.60% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Zacks Research lowered Garmin from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 1st. Morgan Stanley set a $249.00 target price on shares of Garmin in a research report on Thursday, April 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Garmin in a research report on Thursday, January 22nd. Barclays decreased 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 report on Thursday, April 30th. Finally, JPMorgan Chase & Co. raised their target price on shares of Garmin from $265.00 to $285.00 and gave the company a “neutral” rating in a research report on Thursday, April 16th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $268.40.

Garmin Stock Performance

Shares of NYSE GRMN opened at $237.19 on Wednesday. The stock has a 50 day moving average price of $246.12 and a 200 day moving average price of $222.66. Garmin Ltd. has a 52 week low of $186.67 and a 52 week high of $273.32. The stock has a market capitalization of $45.74 billion, a PE ratio of 26.44, a price-to-earnings-growth ratio of 2.85 and a beta of 0.94.

Garmin (NYSE:GRMN) last issued its quarterly earnings results on Wednesday, April 29th. The scientific and technical instruments company reported $2.08 EPS for the quarter, beating the consensus estimate of $1.84 by $0.24. Garmin had a return on equity of 20.07% and a net margin of 23.26%.The firm had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same period in the prior year, the firm posted $1.61 earnings per share. The business’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. As a group, research analysts forecast that Garmin Ltd. will post 9.57 EPS for the current year.

Garmin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 26th. Shareholders of record on Friday, March 12th will be given a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Friday, March 12th. Garmin’s dividend payout ratio is 40.13%.

Insider Activity

In other Garmin news, COO Patrick Desbois sold 6,694 shares of the company’s stock in a transaction on 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 sale, the chief operating officer directly owned 58,540 shares of the company’s stock, valued at approximately $14,731,591. This represents a 10.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Matthew Munn sold 5,275 shares of the business’s stock in a transaction that occurred on 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 transaction, the executive vice president directly owned 9,876 shares in the company, valued at approximately $2,478,579.72. This trade represents a 34.82% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 40,725 shares of company stock valued at $10,213,222. 19.54% of the stock is owned by corporate insiders.

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.