Garmin Ltd. $GRMN is Moran Wealth Management LLC's 9th Largest Position

Key Points

• Moran Wealth Management trimmed its Garmin stake by 5.4% to 181,784 shares, making Garmin its 9th largest holding and about 1.1% of the firm's portfolio (worth roughly $36.9M).
• Company insiders have been selling shares recently—the CFO and COO sold on Feb. 26—and insiders disposed of 40,725 shares worth about $10.2M in the past three months, though insiders still own 15.38% of the company.
• Garmin beat expectations with $2.79 EPS vs. $2.39 expected and $2.12B revenue (+16.6% y/y), set FY2026 guidance at 9.35 EPS, and declared a quarterly dividend of $1.05 (annualized $4.20, ~1.6% yield).

Moran Wealth Management LLC cut its stake in shares of Garmin Ltd. (NYSE:GRMN - Free Report) by 5.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 181,784 shares of the scientific and technical instruments company's stock after selling 10,329 shares during the period. Garmin accounts for approximately 1.1% of Moran Wealth Management LLC's portfolio, making the stock its 9th largest holding. Moran Wealth Management LLC owned approximately 0.09% of Garmin worth $36,875,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Garmin by 2.5% in the 3rd quarter. Vanguard Group Inc. now owns 20,197,564 shares of the scientific and technical instruments company's stock worth $4,973,044,000 after purchasing an additional 499,235 shares in the last quarter. State Street Corp grew its position in Garmin by 1.8% during the third quarter. State Street Corp now owns 7,250,844 shares of the scientific and technical instruments company's stock valued at $1,785,304,000 after acquiring an additional 126,677 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Garmin by 1.1% during the third quarter. Dimensional Fund Advisors LP now owns 1,494,519 shares of the scientific and technical instruments company's stock worth $367,964,000 after acquiring an additional 16,622 shares in the last quarter. Disciplined Growth Investors Inc. MN lifted its holdings in shares of Garmin by 0.4% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 1,419,365 shares of the scientific and technical instruments company's stock worth $296,250,000 after acquiring an additional 5,213 shares during the last quarter. Finally, AQR Capital Management LLC boosted its stake in shares of Garmin by 15.7% in the 3rd quarter. AQR Capital Management LLC now owns 1,348,955 shares of the scientific and technical instruments company's stock valued at $330,373,000 after purchasing an additional 182,548 shares in the last quarter. 81.60% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Garmin

In other news, CFO Douglas G. Boessen sold 3,487 shares of the business'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 sale, the chief financial officer owned 28,049 shares in the company, valued at approximately $7,058,811.34. The trade was a 11.06% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Patrick Desbois sold 6,694 shares of the stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $251.65, for a total transaction of $1,684,545.10. Following the completion of the transaction, the chief operating officer owned 58,540 shares of the company's stock, valued at approximately $14,731,591. The trade was a 10.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 40,725 shares of company stock valued at $10,213,222. Company insiders own 15.38% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. JPMorgan Chase & Co. upped their price target on shares of Garmin from $265.00 to $285.00 and gave the company a "neutral" rating in a research report on Thursday. Barclays set a $240.00 price objective on shares of Garmin in a research note on Thursday, February 19th. Weiss Ratings reissued a "buy (b)" rating on shares of Garmin in a research note on Thursday, January 22nd. Zacks Research upgraded Garmin from a "hold" rating to a "strong-buy" rating in a report on Monday, February 23rd. Finally, Tigress Financial upped their price target on Garmin from $310.00 to $320.00 and gave the company a "strong-buy" rating in a research report on Friday, February 20th. Two 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 assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $258.00.

Garmin Price Performance

Shares of NYSE GRMN opened at $267.33 on Friday. Garmin Ltd. has a 1 year low of $178.74 and a 1 year high of $273.32. The stock has a market capitalization of $51.46 billion, a P/E ratio of 31.09, a P/E/G ratio of 3.17 and a beta of 0.96. The company's 50-day moving average is $239.79 and its 200 day moving average is $223.17.

Garmin (NYSE:GRMN - Get Free Report) last posted its quarterly earnings data 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. Garmin had a return on equity of 19.64% and a net margin of 22.96%.The business had revenue of $2.12 billion for the quarter, compared to analysts' expectations of $2.01 billion. During the same period in the previous year, the firm posted $2.41 EPS. The business's revenue was up 16.6% on a year-over-year basis. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. Research analysts anticipate that Garmin Ltd. will post 7.8 earnings per share for the current year.

Garmin Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Friday, March 12th. This represents a $4.20 annualized dividend and a yield of 1.6%. Garmin's dividend payout ratio (DPR) is currently 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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