Independent Advisor Alliance Decreases Position in Garmin Ltd. $GRMN

Independent Advisor Alliance decreased its holdings in Garmin Ltd. (NYSE:GRMN) by 87.2% in the fourth quarter, Holdings Channel reports. The firm owned 2,636 shares of the scientific and technical instruments company’s stock after selling 18,018 shares during the period. Independent Advisor Alliance’s holdings in Garmin were worth $535,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GRMN. Penserra Capital Management LLC lifted its stake in shares of Garmin by 43.4% in the 3rd quarter. Penserra Capital Management LLC now owns 22,496 shares of the scientific and technical instruments company’s stock worth $5,538,000 after acquiring an additional 6,806 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Garmin by 25.9% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,584 shares of the scientific and technical instruments company’s stock valued at $5,314,000 after acquiring an additional 4,437 shares during the period. Krilogy Financial LLC bought a new stake in Garmin during the third quarter worth approximately $1,519,000. ARK Investment Management LLC lifted its position 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 during the period. Finally, Diversified Trust Co. lifted its position in Garmin by 123.1% in the fourth quarter. Diversified Trust Co. now owns 8,248 shares of the scientific and technical instruments company’s stock worth $1,673,000 after purchasing an additional 4,551 shares during the period. 81.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GRMN has been the topic of several research analyst reports. Morgan Stanley set a $249.00 price target on Garmin in a research report on Thursday, April 30th. Barclays decreased their target price on Garmin from $240.00 to $238.00 and set an “equal weight” rating for the company in a research note on Thursday, April 30th. JPMorgan Chase & Co. lifted their target price on Garmin from $265.00 to $285.00 and gave the stock a “neutral” rating in a report on Thursday, April 16th. Weiss Ratings reiterated a “buy (b)” rating on shares of Garmin in a research report on Thursday, January 22nd. Finally, Zacks Research lowered shares of Garmin from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $268.40.

Garmin Stock Performance

Shares of NYSE:GRMN opened at $226.04 on Monday. The company has a market capitalization of $43.59 billion, a PE ratio of 25.20, a price-to-earnings-growth ratio of 2.66 and a beta of 0.94. The stock has a fifty day moving average of $244.83 and a 200-day moving average of $222.24. Garmin Ltd. has a one year low of $186.67 and a one year high of $273.32.

Garmin (NYSE:GRMN) last announced its earnings results on Wednesday, April 29th. The scientific and technical instruments company reported $2.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.84 by $0.24. Garmin had a return on equity of 20.07% and a net margin of 23.26%.The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same period in the previous year, the firm earned $1.61 earnings per share. Garmin’s revenue for the quarter was up 14.0% compared to the same quarter last year. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. As a group, research analysts forecast that Garmin Ltd. will post 9.57 EPS for the current fiscal year.

Garmin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 26th. Shareholders of record on Friday, March 12th will be paid a dividend of $1.05 per share. The ex-dividend date of this dividend is Friday, March 12th. This represents a $4.20 dividend on an annualized basis and a yield of 1.9%. Garmin’s dividend payout ratio is currently 40.13%.

Insider Activity at Garmin

In other Garmin news, COO Patrick Desbois sold 6,694 shares of the firm’s stock in a transaction dated Thursday, February 26th. The shares were 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 sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Susan Lyman sold 3,805 shares of Garmin stock in a transaction that occurred on 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 transaction, the vice president directly owned 7,471 shares in the company, valued at approximately $1,877,611.72. This trade represents a 33.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 40,246 shares of company stock valued at $10,110,041. Corporate insiders own 19.54% 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.