Novem Group Sells 4,422 Shares of Garmin Ltd. $GRMN

Key Points

• Novem Group cut its Garmin stake by 76.9%, selling 4,422 shares in Q4 and leaving 1,332 shares worth about $270,000.
• Significant insider selling has occurred recently — COO Patrick Desbois sold 6,694 shares and EVP Matthew Munn sold 5,275 shares, with insiders offloading 40,725 shares (~$10.21M) over the last 90 days; insiders now own 15.38% of the stock.
• Garmin reported a strong quarter (EPS $2.79 vs. $2.39 expected; revenue $2.12B vs. $2.01B expected), set FY2026 guidance at 9.35 EPS, and declared a $1.05 quarterly dividend ($4.20 annual, ~1.6% yield).

Novem Group cut its stake in Garmin Ltd. (NYSE:GRMN - Free Report) by 76.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,332 shares of the scientific and technical instruments company's stock after selling 4,422 shares during the quarter. Novem Group's holdings in Garmin were worth $270,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of 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 valued at $4,973,044,000 after acquiring an additional 499,235 shares during the last quarter. State Street Corp increased its stake in shares of Garmin by 1.8% in the 3rd 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 increased its holdings in shares of Garmin by 1.1% in 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 increased its holdings in shares of Garmin by 0.4% in the second 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 in the last quarter. Finally, AQR Capital Management LLC increased its holdings in shares of Garmin by 15.7% in the third quarter. AQR Capital Management LLC now owns 1,348,955 shares of the scientific and technical instruments company's stock worth $330,373,000 after acquiring an additional 182,548 shares in the last quarter. 81.60% of the stock is owned by institutional investors.

Insider Transactions at Garmin

In other Garmin news, COO Patrick Desbois sold 6,694 shares of the firm's stock in a transaction that occurred on Thursday, February 26th. The stock was 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 in the company, valued at $14,731,591. This trade represents a 10.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Matthew Munn sold 5,275 shares of the firm's stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $250.97, for a total value of $1,323,866.75. Following the completion of the transaction, the executive vice president owned 9,876 shares of the company's stock, valued at approximately $2,478,579.72. This represents a 34.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 40,725 shares of company stock valued at $10,213,222. 15.38% of the stock is owned by insiders.

Garmin Trading Up 0.3%

Garmin stock opened at $266.30 on Thursday. The company has a market cap of $51.26 billion, a P/E ratio of 30.96, a price-to-earnings-growth ratio of 3.18 and a beta of 0.96. Garmin Ltd. has a 1-year low of $178.74 and a 1-year high of $273.32. The company has a fifty day simple moving average of $243.35 and a 200 day simple moving average of $223.22.

Garmin (NYSE:GRMN - Get Free Report) last released its earnings results on Wednesday, February 18th. The scientific and technical instruments company reported $2.79 earnings per share for the quarter, beating analysts' consensus estimates of $2.39 by $0.40. The business had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $2.01 billion. Garmin had a net margin of 22.96% and a return on equity of 19.64%. The firm's revenue for the quarter was up 16.6% compared to the same quarter last year. During the same quarter last year, the firm earned $2.41 earnings per share. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. On average, equities research analysts forecast that Garmin Ltd. will post 9.41 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 paid a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Friday, March 12th. Garmin's dividend payout ratio (DPR) is currently 48.84%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Zacks Research upgraded Garmin from a "hold" rating to a "strong-buy" rating in a report on Monday, February 23rd. JPMorgan Chase & Co. increased their price target on Garmin from $265.00 to $285.00 and gave the stock a "neutral" rating in a report on Thursday, April 16th. Weiss Ratings restated a "buy (b)" rating on shares of Garmin in a report on Thursday, January 22nd. Barclays set a $240.00 price target on Garmin in a report on Thursday, February 19th. Finally, Tigress Financial increased their price target on Garmin from $310.00 to $320.00 and gave the stock a "strong-buy" rating in a report on Friday, February 20th. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $258.00.

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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