First Trust Advisors LP Has $82.02 Million Stock Holdings in Garmin Ltd. $GRMN

Key Points

• First Trust Advisors LP cut its stake in Garmin (NYSE:GRMN) by 16.9% in Q3, holding 333,108 shares valued at about $82.02 million after selling 67,607 shares.
• Company insiders sold stock recently — CEO Clifton Pemble sold 19,914 shares (~$5.01M) and CFO Douglas Boessen sold 3,487 shares — with insiders offloading 57,319 shares (~$13.65M) in the past 90 days.
• Garmin reported better-than-expected quarterly results (EPS $2.79 vs. $2.39 est., revenue $2.12B vs. $2.01B), set FY2026 guidance at 9.350 EPS, and announced a quarterly dividend of $1.05 (annualized $4.20, yield 1.7%).

First Trust Advisors LP decreased its holdings in shares of Garmin Ltd. (NYSE:GRMN - Free Report) by 16.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 333,108 shares of the scientific and technical instruments company's stock after selling 67,607 shares during the quarter. First Trust Advisors LP owned 0.17% of Garmin worth $82,018,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. HUB Investment Partners LLC acquired a new stake in Garmin during the 3rd quarter worth about $354,000. Modern Wealth Management LLC increased its holdings in shares of Garmin by 19.3% in the 3rd quarter. Modern Wealth Management LLC now owns 2,929 shares of the scientific and technical instruments company's stock valued at $721,000 after purchasing an additional 473 shares during the period. Neo Ivy Capital Management lifted its position in shares of Garmin by 44.0% in the third quarter. Neo Ivy Capital Management now owns 2,436 shares of the scientific and technical instruments company's stock worth $600,000 after purchasing an additional 744 shares in the last quarter. Neuberger Berman Group LLC lifted its position in shares of Garmin by 4.9% in the third quarter. Neuberger Berman Group LLC now owns 18,569 shares of the scientific and technical instruments company's stock worth $4,572,000 after purchasing an additional 859 shares in the last quarter. Finally, Barclays PLC boosted its holdings in shares of Garmin by 5.0% during the third quarter. Barclays PLC now owns 385,885 shares of the scientific and technical instruments company's stock worth $95,013,000 after purchasing an additional 18,378 shares during the period. 81.60% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Garmin

In other news, CEO Clifton A. Pemble sold 19,914 shares of the company's stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $251.58, for a total value of $5,009,964.12. Following the sale, the chief executive officer directly owned 124,075 shares in the company, valued at approximately $31,214,788.50. This represents a 13.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Douglas G. Boessen sold 3,487 shares of the stock in a transaction that occurred on Thursday, February 26th. The stock was 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 of the company's stock, valued at approximately $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. Insiders sold 57,319 shares of company stock valued at $13,650,815 over the last 90 days. Corporate insiders own 19.54% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Zacks Research raised shares of Garmin from a "hold" rating to a "strong-buy" rating in a research report on Monday, February 23rd. JPMorgan Chase & Co. lifted their target price on shares of Garmin from $250.00 to $265.00 and gave the company a "neutral" rating in a research note on Thursday, February 19th. Weiss Ratings restated a "buy (b)" rating on shares of Garmin in a report on Thursday, January 22nd. Longbow Research raised shares of Garmin from a "neutral" rating to a "buy" rating and set a $250.00 price target on the stock in a research note on Wednesday, December 3rd. Finally, Tigress Financial increased their price objective on Garmin from $310.00 to $320.00 and gave the stock a "strong-buy" rating in a report on Friday, February 20th. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Garmin has a consensus rating of "Moderate Buy" and a consensus target price of $254.00.

Garmin Stock Performance

GRMN opened at $242.99 on Tuesday. The company has a market cap 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. The stock has a 50-day moving average of $218.56 and a 200-day moving average of $221.82. Garmin Ltd. has a 52-week low of $169.26 and a 52-week high of $261.69.

Garmin (NYSE:GRMN - Get Free Report) last announced its earnings results on Wednesday, February 18th. The scientific and technical instruments company reported $2.79 earnings per share for the quarter, beating the consensus estimate of $2.39 by $0.40. The firm had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $2.01 billion. Garmin had a return on equity of 19.64% and a net margin of 22.96%.The firm's revenue for the quarter was up 16.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.41 EPS. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. On average, research analysts predict that Garmin Ltd. will post 7.8 earnings per share for the current year.

Garmin Announces Dividend

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

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.

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