Pictet Asset Management Holding SA Has $131.22 Million Position in Garmin Ltd. $GRMN

Key Points

• Pictet Asset Management cut its stake in Garmin by 27.5% in Q4, selling 245,269 shares and ending the quarter with 646,869 shares worth about $131.22 million (≈0.34% of the company).
• Company insiders have been net sellers recently: the VP and CEO sold sizable blocks on Feb. 26 (3,805 and 19,914 shares respectively), and insiders sold 40,725 shares totaling about $10.21 million over the past 90 days (insiders own 19.54%).
• Garmin beat expectations for the last quarter (EPS $2.79 vs. $2.39 est.; revenue $2.12B vs. $2.01B, up 16.6% YoY), set FY2026 EPS guidance at 9.35, and announced a quarterly dividend of $1.05 ($4.20 annual, ~1.6% yield).

Pictet Asset Management Holding SA lowered its holdings in Garmin Ltd. (NYSE:GRMN - Free Report) by 27.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 646,869 shares of the scientific and technical instruments company's stock after selling 245,269 shares during the quarter. Pictet Asset Management Holding SA owned about 0.34% of Garmin worth $131,217,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Garmin by 2.5% during 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 in the last quarter. State Street Corp lifted its stake in Garmin by 1.8% during 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 in the last quarter. Dimensional Fund Advisors LP lifted its stake in Garmin by 1.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,494,519 shares of the scientific and technical instruments company's stock valued at $367,964,000 after acquiring an additional 16,622 shares in the last quarter. Disciplined Growth Investors Inc. MN lifted its stake in Garmin by 0.4% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 1,419,365 shares of the scientific and technical instruments company's stock valued at $296,250,000 after acquiring an additional 5,213 shares in the last quarter. Finally, AQR Capital Management LLC lifted its stake in Garmin by 15.7% during the 3rd quarter. AQR Capital Management LLC now owns 1,348,955 shares of the scientific and technical instruments company's stock valued at $330,373,000 after acquiring an additional 182,548 shares in the last quarter. 81.60% of the stock is currently owned by institutional investors.

Insider Activity 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 sale, the vice president directly owned 7,471 shares in the company, valued at approximately $1,877,611.72. The trade was a 33.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Clifton A. Pemble sold 19,914 shares of the business's stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $251.58, for a total value of $5,009,964.12. Following the completion of the sale, the chief executive officer owned 124,075 shares in the company, valued at $31,214,788.50. This represents a 13.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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 company insiders.

Analyst Upgrades and Downgrades

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

Garmin Price Performance

NYSE GRMN opened at $257.78 on Tuesday. The stock has a market capitalization of $49.72 billion, a price-to-earnings ratio of 29.97, a PEG ratio of 3.10 and a beta of 0.96. Garmin Ltd. has a one year low of $178.74 and a one year high of $273.32. The business's fifty day moving average is $246.26 and its 200-day moving average is $223.01.

Garmin (NYSE:GRMN - Get Free Report) last released its 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. The company had revenue of $2.12 billion for the quarter, compared to analysts' expectations of $2.01 billion. Garmin had a return on equity of 19.64% and a net margin of 22.96%.The business's revenue for the quarter was up 16.6% compared to the same quarter last year. During the same period in the previous year, the business posted $2.41 EPS. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. Research analysts expect 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 paid 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 presently 41.86%.

Garmin 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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