Garmin Ltd. $GRMN Shares Sold by Van Lanschot Kempen Investment Management N.V.

Key Points

• Van Lanschot Kempen Investment Management N.V. cut its holdings in Garmin Ltd. by 77.3%, owning only 1,407 shares after selling 4,788 shares, worth approximately $306,000.
• Garmin reported a 20.4% increase in quarterly revenue year-over-year, reaching $1.81 billion, and beat earnings per share estimates with $2.17 EPS.
• The company declared a quarterly dividend of $0.90, with a dividend yield of 1.6%, to be paid on September 26th.

Van Lanschot Kempen Investment Management N.V. reduced its holdings in Garmin Ltd. (NYSE:GRMN - Free Report) by 77.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,407 shares of the scientific and technical instruments company's stock after selling 4,788 shares during the period. Van Lanschot Kempen Investment Management N.V.'s holdings in Garmin were worth $306,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC boosted its stake in shares of Garmin by 31.3% in the fourth quarter. Brighton Jones LLC now owns 1,943 shares of the scientific and technical instruments company's stock worth $401,000 after acquiring an additional 463 shares during the last quarter. MML Investors Services LLC lifted its position in Garmin by 2.5% during the fourth quarter. MML Investors Services LLC now owns 30,219 shares of the scientific and technical instruments company's stock worth $6,233,000 after buying an additional 751 shares in the last quarter. TD Waterhouse Canada Inc. lifted its position in Garmin by 11.6% during the fourth quarter. TD Waterhouse Canada Inc. now owns 17,589 shares of the scientific and technical instruments company's stock worth $3,629,000 after buying an additional 1,835 shares in the last quarter. State of Tennessee Department of Treasury lifted its position in Garmin by 28.0% during the fourth quarter. State of Tennessee Department of Treasury now owns 50,195 shares of the scientific and technical instruments company's stock worth $10,353,000 after buying an additional 10,986 shares in the last quarter. Finally, OneDigital Investment Advisors LLC lifted its position in Garmin by 2.9% during the fourth quarter. OneDigital Investment Advisors LLC now owns 7,528 shares of the scientific and technical instruments company's stock worth $1,553,000 after buying an additional 210 shares in the last quarter. 81.60% of the stock is owned by institutional investors and hedge funds.

Garmin Stock Down 1.5%

NYSE:GRMN opened at $229.9880 on Thursday. Garmin Ltd. has a 52 week low of $160.94 and a 52 week high of $246.50. The company has a market capitalization of $44.27 billion, a P/E ratio of 28.36, a P/E/G ratio of 2.57 and a beta of 0.99. The stock's fifty day moving average is $219.49 and its two-hundred day moving average is $210.43.

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

Garmin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 12th will be issued a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 1.6%. Garmin's dividend payout ratio is presently 44.39%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Barclays reiterated an "underweight" rating and set a $167.00 price objective (up previously from $152.00) on shares of Garmin in a research report on Wednesday, July 30th. Morgan Stanley lifted their price objective on Garmin from $172.00 to $186.00 and gave the stock an "underweight" rating in a research report on Thursday, July 31st. Finally, JPMorgan Chase & Co. lifted their price objective on Garmin from $215.00 to $250.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $222.00.

Insider Buying and Selling at Garmin

In related news, 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 value of $1,605,471.75. Following the sale, the chief executive officer owned 141,626 shares in the company, valued at approximately $28,785,484.50. The trade was a 5.28% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Douglas G. Boessen sold 1,859 shares of the business's stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $215.00, for a total value of $399,685.00. Following the completion of the sale, the chief financial officer owned 29,146 shares in the company, valued at $6,266,390. This represents a 6.00% decrease in their position. The disclosure for this sale can be found here. 15.38% of the stock is currently owned by insiders.

About Garmin

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.

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