Fortune Financial Advisors LLC lifted its stake in shares of Garmin Ltd. (NYSE:GRMN - Free Report) by 687.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 65,704 shares of the scientific and technical instruments company's stock after purchasing an additional 57,358 shares during the quarter. Garmin accounts for about 9.0% of Fortune Financial Advisors LLC's holdings, making the stock its largest position. Fortune Financial Advisors LLC's holdings in Garmin were worth $13,328,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently made changes to their positions in GRMN. Brighton Jones LLC raised its stake in shares of Garmin by 31.3% during the 4th quarter. Brighton Jones LLC now owns 1,943 shares of the scientific and technical instruments company's stock valued at $401,000 after purchasing an additional 463 shares during the period. NewEdge Advisors LLC raised its stake in shares of Garmin by 6.2% during the 1st quarter. NewEdge Advisors LLC now owns 5,885 shares of the scientific and technical instruments company's stock valued at $1,278,000 after purchasing an additional 345 shares during the period. Woodline Partners LP increased its stake in Garmin by 40.6% in the 1st quarter. Woodline Partners LP now owns 13,017 shares of the scientific and technical instruments company's stock worth $2,826,000 after acquiring an additional 3,757 shares during the last quarter. Focus Partners Wealth increased its stake in Garmin by 51.1% in the 1st quarter. Focus Partners Wealth now owns 6,811 shares of the scientific and technical instruments company's stock worth $1,479,000 after acquiring an additional 2,304 shares during the last quarter. Finally, Sivia Capital Partners LLC increased its stake in Garmin by 17.0% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,662 shares of the scientific and technical instruments company's stock worth $347,000 after acquiring an additional 242 shares during the last quarter. 81.60% of the stock is currently owned by institutional investors.
Insider Activity at Garmin
In related news, EVP Matthew Munn sold 5,275 shares of the stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $250.97, for a total transaction of $1,323,866.75. Following the completion of the sale, the executive vice president directly owned 9,876 shares in the company, valued at $2,478,579.72. This represents a 34.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Susan Lyman sold 3,805 shares of the stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $251.32, for a total value of $956,272.60. Following the sale, the vice president owned 7,471 shares of the company's stock, valued at $1,877,611.72. This represents a 33.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 40,725 shares of company stock worth $10,213,222 over the last three months. Corporate insiders own 15.38% of the company's stock.
Garmin Trading Up 0.2%
GRMN opened at $257.10 on Friday. The stock has a 50-day moving average price of $233.60 and a 200-day moving average price of $222.18. Garmin Ltd. has a 12-month low of $178.74 and a 12-month high of $261.69. The stock has a market capitalization of $49.49 billion, a P/E ratio of 29.89, a PEG ratio of 3.08 and a beta of 0.96.
Garmin (NYSE:GRMN - Get Free Report) last issued 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 company had revenue of $2.12 billion during the quarter, compared to analysts' expectations of $2.01 billion. Garmin had a return on equity of 19.64% and a net margin of 22.96%.Garmin's quarterly revenue was up 16.6% compared to the same quarter last year. During the same period in the prior year, the business posted $2.41 EPS. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. On average, equities research analysts predict that Garmin Ltd. will post 7.8 EPS for the current year.
Garmin Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, March 26th. Investors of record on Friday, March 12th will be issued a dividend of $1.05 per share. The ex-dividend date is Friday, March 12th. This represents a $4.20 annualized dividend and a yield of 1.6%. Garmin's dividend payout ratio is currently 41.86%.
Analysts Set New Price Targets
GRMN has been the topic of a number of research analyst reports. Weiss Ratings restated a "buy (b)" rating on shares of Garmin in a research note on Thursday, January 22nd. Barclays set a $240.00 target price on Garmin in a research note on Thursday, February 19th. Zacks Research upgraded Garmin from a "hold" rating to a "strong-buy" rating in a research note on Monday, February 23rd. JPMorgan Chase & Co. upped their target price on Garmin from $250.00 to $265.00 and gave the stock a "neutral" rating in a research note on Thursday, February 19th. Finally, Tigress Financial upped their target price on Garmin from $310.00 to $320.00 and gave the stock a "strong-buy" rating in a research note on Friday, February 20th. Two research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Garmin has an average rating of "Moderate Buy" and an average price target of $254.00.
Check Out Our Latest Research Report on GRMN
Garmin Company Profile
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Free Report)
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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