Dimensional Fund Advisors LP Has $315.81 Million Stock Position in Garmin Ltd. $GRMN

Key Points

• Dimensional Fund Advisors LP reduced its stake in Garmin Ltd. by 6.6%, owning 1,454,758 shares valued at approximately $315.8 million as of its latest SEC filing.
• Several institutional investors increased their holdings in Garmin, with Harbour Investments Inc. boosting its stake by 31.8% during the first quarter.
• The stock currently has a consensus rating of "Hold" with a price target of $222.00, despite recent insider selling by CFO Douglas G. Boessen and CEO Clifton A. Pemble.

Dimensional Fund Advisors LP reduced its position in Garmin Ltd. (NYSE:GRMN - Free Report) by 6.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,454,758 shares of the scientific and technical instruments company's stock after selling 102,056 shares during the quarter. Dimensional Fund Advisors LP owned about 0.76% of Garmin worth $315,814,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of GRMN. TFC Financial Management Inc. grew its holdings in shares of Garmin by 1,633.3% during the first quarter. TFC Financial Management Inc. now owns 156 shares of the scientific and technical instruments company's stock worth $34,000 after buying an additional 147 shares during the last quarter. Wayfinding Financial LLC purchased a new position in shares of Garmin in the 1st quarter valued at about $34,000. Zions Bancorporation National Association UT acquired a new stake in shares of Garmin during the 1st quarter valued at approximately $38,000. Garde Capital Inc. purchased a new stake in Garmin during the first quarter worth $40,000. Finally, Olde Wealth Management LLC purchased a new stake in shares of Garmin in the 1st quarter worth about $43,000. 81.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GRMN has been the subject of a number of analyst reports. Morgan Stanley boosted their price target on Garmin from $172.00 to $186.00 and gave the stock an "underweight" rating in a report on Thursday, July 31st. Barclays reissued an "underweight" rating and issued a $167.00 target price (up previously from $152.00) on shares of Garmin in a research note on Wednesday, July 30th. Finally, JPMorgan Chase & Co. raised their price target on shares of Garmin from $215.00 to $250.00 and gave the stock a "neutral" rating in a research note on Thursday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Garmin currently has an average rating of "Hold" and an average price target of $222.00.

Insider Activity

In other news, CFO Douglas G. Boessen sold 1,859 shares of Garmin stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $215.00, for a total value of $399,685.00. Following the transaction, the chief financial officer directly owned 29,146 shares in the company, valued at approximately $6,266,390. The trade was a 6.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Clifton A. Pemble sold 7,899 shares of the business's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $203.25, for a total transaction of $1,605,471.75. Following the transaction, the chief executive officer directly owned 141,626 shares in the company, valued at $28,785,484.50. This trade represents a 5.28% decrease in their position. The disclosure for this sale can be found here. Company insiders own 15.38% of the company's stock.

Garmin Stock Down 0.2%

GRMN stock traded down $0.4870 during trading hours on Thursday, hitting $229.6630. The company's stock had a trading volume of 390,685 shares, compared to its average volume of 934,332. Garmin Ltd. has a 12 month low of $160.94 and a 12 month high of $246.50. The stock has a 50 day moving average price of $219.49 and a two-hundred day moving average price of $210.43. The company has a market capitalization of $44.21 billion, a PE ratio of 28.38, a price-to-earnings-growth ratio of 2.57 and a beta of 0.99.

Garmin (NYSE:GRMN - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The scientific and technical instruments company reported $2.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.27. The company had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.68 billion. Garmin had a return on equity of 20.00% and a net margin of 23.21%.The firm's revenue was up 20.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.58 EPS. Garmin has set its FY 2025 guidance at 8.000-8.000 EPS. Sell-side analysts expect that Garmin Ltd. will post 7.8 earnings per share for the current year.

Garmin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 1.6%. Garmin's dividend payout ratio (DPR) is 44.39%.

Garmin Profile

Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of wireless devices worldwide. Its Fitness segment offers running and multi-sport watches; cycling products; smartwatch devices; scales and monitors; and fitness accessories. This segment also provides Garmin Connect and Garmin Connect Mobile, which are web and mobile platforms where users can track and analyze their fitness, activities and workouts, and wellness data; and Connect IQ, an application development platform.