Vanguard Group Inc. Trims Stock Holdings in Garmin Ltd. $GRMN

Key Points

• Vanguard Group trimmed its Garmin stake by 0.2% in Q4 but still holds 20,163,896 shares—about 10.48% of the company valued at roughly $4.09 billion.
• Company insiders have sold 40,725 shares worth about $10.21 million over the past three months (including sales by the VP and COO); insiders now own 19.54% of Garmin.
• Garmin beat quarterly expectations with EPS of $2.79 (vs. $2.39 est.) and $2.12B in revenue, set FY2026 guidance at EPS 9.35, and announced a quarterly dividend of $1.05 (annualized $4.20, ~1.6% yield).

Vanguard Group Inc. trimmed its holdings in Garmin Ltd. (NYSE:GRMN - Free Report) by 0.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 20,163,896 shares of the scientific and technical instruments company's stock after selling 33,668 shares during the quarter. Vanguard Group Inc. owned approximately 10.48% of Garmin worth $4,090,246,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of GRMN. Penserra Capital Management LLC grew its stake in Garmin by 43.4% in the third quarter. Penserra Capital Management LLC now owns 22,496 shares of the scientific and technical instruments company's stock worth $5,538,000 after purchasing an additional 6,806 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Garmin by 25.9% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,584 shares of the scientific and technical instruments company's stock worth $5,314,000 after purchasing an additional 4,437 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in Garmin by 4.7% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 429,030 shares of the scientific and technical instruments company's stock worth $105,636,000 after purchasing an additional 19,360 shares in the last quarter. Krilogy Financial LLC bought a new position in Garmin in the third quarter worth approximately $1,519,000. Finally, ARK Investment Management LLC grew its stake in Garmin by 10.9% in the third quarter. ARK Investment Management LLC now owns 28,925 shares of the scientific and technical instruments company's stock worth $7,122,000 after purchasing an additional 2,852 shares in the last quarter. 81.60% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Garmin

In other Garmin news, VP Susan Lyman sold 3,805 shares of Garmin stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $251.32, for a total transaction of $956,272.60. Following the completion of the sale, the vice president owned 7,471 shares of the company's stock, 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 can be accessed through this link. Also, COO Patrick Desbois sold 6,694 shares of Garmin stock in a transaction dated 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 sale, the chief operating officer directly owned 58,540 shares of the company's stock, valued at approximately $14,731,591. This represents a 10.26% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 40,725 shares of company stock worth $10,213,222. 19.54% of the stock is currently owned by corporate insiders.

Garmin Trading Down 0.6%

Shares of NYSE GRMN opened at $257.78 on Tuesday. The stock has a market capitalization of $49.72 billion, a PE ratio of 29.97, a price-to-earnings-growth ratio of 3.10 and a beta of 0.96. The stock's fifty day simple moving average is $246.26 and its two-hundred day simple moving average is $223.01. Garmin Ltd. has a 12-month low of $178.74 and a 12-month high of $273.32.

Garmin (NYSE:GRMN - Get Free Report) last announced its earnings results on Wednesday, February 18th. The scientific and technical instruments company reported $2.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.39 by $0.40. The business 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% on a year-over-year basis. During the same quarter last year, the firm earned $2.41 EPS. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. On average, equities analysts predict that Garmin Ltd. will post 9.41 earnings per share for the current fiscal year.

Garmin Announces Dividend

The firm also recently disclosed 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 1.6%. Garmin's dividend payout ratio (DPR) is presently 41.86%.

Analysts Set New Price Targets

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

About Garmin

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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