Geneos Wealth Management Inc. reduced its position in shares of Garmin Ltd. (NYSE:GRMN - Free Report) by 88.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 772 shares of the scientific and technical instruments company's stock after selling 6,077 shares during the quarter. Geneos Wealth Management Inc.'s holdings in Garmin were worth $157,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GRMN. Richardson Financial Services Inc. raised its holdings in Garmin by 62.2% during 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 holdings 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 valued at $39,000 after buying an additional 142 shares during the last quarter. GraniteShares Advisors LLC bought a new stake in Garmin during the 4th quarter valued at $41,000. Tradewinds Capital Management LLC bought a new stake in Garmin during the 3rd quarter valued at $44,000. Finally, SJS Investment Consulting Inc. raised its holdings in Garmin by 1,530.8% during the 3rd quarter. SJS Investment Consulting Inc. now owns 212 shares of the scientific and technical instruments company's stock valued at $52,000 after buying an additional 199 shares during the last quarter. 81.60% of the stock is currently owned by institutional investors.
Key Stories Impacting Garmin
Here are the key news stories impacting Garmin this week:
- Positive Sentiment: Q1 beats and record quarter — Garmin reported $2.08 EPS vs. $1.84 expected and $1.75B revenue (14% YoY), with record first-quarter revenue and operating income, a clear near-term earnings upside driver. Garmin announces first quarter 2026 results
- Positive Sentiment: Fitness/wearables surge — Fitness segment sales jumped ~42%, led by premium wearables, which is the main growth engine cited on the call and in coverage; that strengthens revenue mix and margins. Garmin Earnings Call: Fitness Surge Drives Record Q1
- Positive Sentiment: Dividend increase — Management announced a 17% dividend hike, which supports shareholder returns and can help steadier investor sentiment. Garmin Fitness Sales Soar 42%, But Stock Cools
- Neutral Sentiment: Analyst and media coverage — Transcripts, slide deck and call notes are available for deeper diligence; Morgan Stanley upgraded GRMN to equal-weight and raised its PT, which may limit downside but is not a strong buy signal. Earnings Call Transcript Morgan Stanley Upgrade
- Neutral Sentiment: Broad business strength — Aviation and Marine segments also showed steady demand, diversifying growth beyond wearables, per Reuters and Zacks coverage. Reuters: Garmin posts upbeat quarterly results
- Negative Sentiment: Conservative FY2026 guidance — Garmin set FY EPS at 9.350 (company range) vs. consensus ~9.39 and revenue guidance ~$7.9B vs. ~8.0B expected; the slightly below-consensus outlook triggered profit-taking despite the quarter beat. MarketBeat: Garmin trading summary & guidance
- Negative Sentiment: Initial market reaction volatility — Some coverage noted an early pullback after the release as investors digested the conservative guide and mixed signals between strong unit trends and lowered near-term expectations. Investor's Business Daily: Garmin Beats Q1 Goals But Sticks With Prior Full-Year Outlook
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on GRMN shares. Morgan Stanley raised shares of Garmin from an "underweight" rating to an "equal weight" rating and boosted their price objective for the company from $195.00 to $252.00 in a research report on Tuesday. Zacks Research raised shares of Garmin from a "hold" rating to a "strong-buy" rating in a research note on Monday, February 23rd. JPMorgan Chase & Co. lifted their target price on shares of Garmin from $265.00 to $285.00 and gave the company a "neutral" rating in a research note on Thursday, April 16th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Garmin in a research note on Thursday, January 22nd. Finally, Barclays set a $240.00 target price on shares of Garmin in a research note on Thursday, February 19th. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Garmin currently has a consensus rating of "Moderate Buy" and an average target price of $269.40.
View Our Latest Analysis on GRMN
Garmin Trading Up 2.3%
Shares of GRMN opened at $253.48 on Thursday. The firm's 50-day moving average price is $247.19 and its 200-day moving average price is $223.23. The firm has a market capitalization of $48.89 billion, a price-to-earnings ratio of 29.47, a PEG ratio of 3.08 and a beta of 0.96. Garmin Ltd. has a 1-year low of $178.74 and a 1-year high of $273.32.
Garmin (NYSE:GRMN - Get Free Report) last released its 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. The firm had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.72 billion. Garmin had a net margin of 22.96% and a return on equity of 19.64%. The company's revenue was up 14.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.61 EPS. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. On average, research analysts forecast that Garmin Ltd. will post 9.41 EPS for the current fiscal 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 given a $1.05 dividend. The ex-dividend date of this dividend is Friday, March 12th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 1.7%. Garmin's dividend payout ratio is currently 48.84%.
Insider Transactions at Garmin
In other news, CFO Douglas G. Boessen sold 3,487 shares of the company's stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $251.66, for a total value of $877,538.42. Following the sale, the chief financial officer directly owned 28,049 shares of the company's stock, valued at $7,058,811.34. This represents a 11.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Patrick Desbois sold 6,694 shares of the company's 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 sale, the chief operating officer directly owned 58,540 shares in the company, valued at $14,731,591. This represents a 10.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 40,725 shares of company stock worth $10,213,222. 19.54% of the stock is owned by insiders.
About Garmin
(
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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