Garmin Ltd. $GRMN Stock Holdings Lessened by Patton Fund Management Inc.

Key Points

• Patton Fund Management cut its Garmin stake by 91.0% in Q4, selling 11,121 shares and leaving 1,106 shares valued at $224,000, while other institutions added to positions and institutional ownership is about 81.6%.
• Garmin beat Q4 expectations with $2.79 EPS (vs. $2.39 est.) and revenue up 16.6% YoY, set FY2026 guidance at 9.350 EPS, and announced a quarterly dividend of $1.05 (annualized $4.20, ~1.6% yield).
• Company insiders have been net sellers recently — CEO Clifton Pemble sold 19,914 shares (~$5.01M) and VP Susan Lyman sold 3,805 shares (~$956k), with insiders disposing 40,725 shares worth $10.21M in the last three months though insiders still own 15.38%.

Patton Fund Management Inc. reduced its holdings in Garmin Ltd. (NYSE:GRMN - Free Report) by 91.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,106 shares of the scientific and technical instruments company's stock after selling 11,121 shares during the quarter. Patton Fund Management Inc.'s holdings in Garmin were worth $224,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of GRMN. Brighton Jones LLC lifted its position in shares of Garmin by 31.3% in the 4th quarter. Brighton Jones LLC now owns 1,943 shares of the scientific and technical instruments company's stock worth $401,000 after buying an additional 463 shares during the last quarter. NewEdge Advisors LLC lifted its position in shares of Garmin by 6.2% in the 1st quarter. NewEdge Advisors LLC now owns 5,885 shares of the scientific and technical instruments company's stock worth $1,278,000 after buying an additional 345 shares during the last quarter. Woodline Partners LP lifted its position in shares of 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 buying an additional 3,757 shares during the last quarter. Focus Partners Wealth lifted its position in shares of 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 buying an additional 2,304 shares during the last quarter. Finally, Sivia Capital Partners LLC lifted its position in shares of 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 buying an additional 242 shares during the last quarter. 81.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Barclays set a $240.00 price target on shares of Garmin in a research report on Thursday, February 19th. Tigress Financial raised their target price on Garmin from $310.00 to $320.00 and gave the company a "strong-buy" rating in a research note on Friday, February 20th. JPMorgan Chase & Co. raised their target price on Garmin from $250.00 to $265.00 and gave the company a "neutral" rating in a research note on Thursday, February 19th. Zacks Research upgraded shares of Garmin from a "hold" rating to a "strong-buy" rating in a research report on Monday, February 23rd. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Garmin in a research report on Thursday, January 22nd. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $254.00.

Garmin Stock Up 0.5%

Shares of NYSE:GRMN opened at $265.74 on Thursday. Garmin Ltd. has a fifty-two week low of $178.74 and a fifty-two week high of $266.47. The company has a market cap of $51.15 billion, a PE ratio of 30.90, a P/E/G ratio of 3.17 and a beta of 0.96. The company's 50-day moving average price is $237.18 and its 200 day moving average price is $222.73.

Garmin (NYSE:GRMN - Get Free Report) last released its quarterly earnings results on Wednesday, February 18th. The scientific and technical instruments company reported $2.79 EPS for the quarter, topping analysts' consensus estimates of $2.39 by $0.40. Garmin had a net margin of 22.96% and a return on equity of 19.64%. The company had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $2.01 billion. During the same period in the previous year, the firm earned $2.41 EPS. Garmin'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. As a group, equities analysts anticipate that Garmin Ltd. will post 7.8 EPS for the current year.

Garmin Announces Dividend

The business also recently declared 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. This represents a $4.20 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Friday, March 12th. Garmin's payout ratio is 41.86%.

Insider Activity at Garmin

In other news, VP Susan Lyman sold 3,805 shares of Garmin stock in a transaction that occurred on Thursday, February 26th. The shares were 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 of the company's stock, valued at $1,877,611.72. The trade was a 33.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Clifton A. Pemble sold 19,914 shares of Garmin stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $251.58, for a total transaction of $5,009,964.12. Following the completion of the transaction, the chief executive officer directly owned 124,075 shares in the company, valued at $31,214,788.50. This represents a 13.83% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 40,725 shares of company stock worth $10,213,222 in the last three months. Insiders own 15.38% of the company's stock.

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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