Garmin Ltd. $GRMN Shares Sold by Bank Julius Baer & Co. Ltd Zurich

Key Points

• Bank Julius Baer & Co. Ltd Zurich cut its Garmin stake by 12.6% in the fourth quarter, selling 7,522 shares and ending with 52,040 shares valued at about $10.64 million.
• Garmin reported better-than-expected quarterly results, with EPS of $2.08 versus $1.84 expected and revenue of $1.75 billion, up 14% year over year. The company also provided FY 2026 EPS guidance of 9.35.
• Garmin announced a quarterly dividend of $1.05 per share, equal to an annualized payout of $4.20 and a yield of 1.8%. Meanwhile, analysts are mixed, with a consensus rating of Moderate Buy and a price target of $268.40.

Bank Julius Baer & Co. Ltd Zurich reduced its stake in Garmin Ltd. (NYSE:GRMN - Free Report) by 12.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 52,040 shares of the scientific and technical instruments company's stock after selling 7,522 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich's holdings in Garmin were worth $10,642,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of GRMN. Richardson Financial Services Inc. grew 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% during the 3rd quarter. Cornerstone Planning Group LLC now owns 160 shares of the scientific and technical instruments company's stock worth $39,000 after buying an additional 142 shares during the last quarter. Torren Management LLC acquired a new stake in shares of Garmin in the 4th quarter worth $41,000. GraniteShares Advisors LLC acquired a new stake in shares of Garmin in the 4th quarter worth $41,000. Finally, Mascoma Wealth Management LLC acquired a new stake in shares of Garmin in the 3rd quarter worth $54,000. Institutional investors and hedge funds own 81.60% of the company's stock.

Garmin Trading Up 1.1%

GRMN stock opened at $234.51 on Friday. The company's 50-day moving average price is $245.33 and its 200 day moving average price is $222.42. Garmin Ltd. has a 52 week low of $186.67 and a 52 week high of $273.32. The company has a market cap of $45.23 billion, a P/E ratio of 26.14, a P/E/G ratio of 2.73 and a beta of 0.94.

Garmin (NYSE:GRMN - Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The scientific and technical instruments company reported $2.08 earnings per share for the quarter, topping analysts' consensus estimates of $1.84 by $0.24. Garmin had a return on equity of 20.07% and a net margin of 23.26%.The business had revenue of $1.75 billion for the quarter, compared to analysts' expectations of $1.72 billion. During the same quarter in the prior year, the firm posted $1.61 EPS. The company's 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. On average, equities research analysts expect that Garmin Ltd. will post 9.57 earnings per share for the current year.

Garmin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 26th. Stockholders of record on Friday, March 12th will be paid a dividend of $1.05 per share. The ex-dividend date is Friday, March 12th. This represents a $4.20 annualized dividend and a dividend yield of 1.8%. Garmin's dividend payout ratio (DPR) is currently 40.13%.

Analyst Ratings Changes

Several analysts have recently weighed in on GRMN shares. Zacks Research downgraded shares of Garmin from a "strong-buy" rating to a "hold" rating in a report on Friday, May 1st. Barclays reduced their price objective 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. JPMorgan Chase & Co. boosted their target price on Garmin from $265.00 to $285.00 and gave the stock a "neutral" rating in a research report on Thursday, April 16th. Morgan Stanley set a $249.00 target price on Garmin in a research note on Thursday, April 30th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Garmin in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $268.40.

Insider Buying and Selling at Garmin

In related news, VP Susan Lyman sold 3,805 shares of the business's stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $251.32, for a total value of $956,272.60. Following the transaction, the vice president owned 7,471 shares in the company, valued at approximately $1,877,611.72. The trade was a 33.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Patrick Desbois sold 6,694 shares of the stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $251.65, for a total value of $1,684,545.10. Following the completion of the transaction, the chief operating officer directly owned 58,540 shares of the company's stock, valued at $14,731,591. This represents a 10.26% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 40,246 shares of company stock valued at $10,110,041. Company insiders own 15.38% of the company's stock.

About Garmin

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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