Quantbot Technologies LP Lowers Stock Position in Garmin Ltd. $GRMN

Quantbot Technologies LP cut its stake in shares of Garmin Ltd. (NYSE:GRMN) by 94.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,222 shares of the scientific and technical instruments company’s stock after selling 81,291 shares during the quarter. Quantbot Technologies LP’s holdings in Garmin were worth $1,286,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GRMN. Andra AP fonden lifted its position in shares of Garmin by 87.2% in the second quarter. Andra AP fonden now owns 67,000 shares of the scientific and technical instruments company’s stock valued at $13,984,000 after acquiring an additional 31,200 shares in the last quarter. Penserra Capital Management LLC grew its position in shares of Garmin by 43.4% during 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. EFG Asset Management Americas Corp. raised its stake in Garmin by 34.1% during the 2nd quarter. EFG Asset Management Americas Corp. now owns 10,455 shares of the scientific and technical instruments company’s stock valued at $2,182,000 after purchasing an additional 2,659 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Garmin by 25.9% in the 3rd 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. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in Garmin by 4.7% in the 3rd 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 during the period. Institutional investors own 81.60% of the company’s stock.

Garmin Trading Down 4.4%

Shares of NYSE GRMN opened at $240.12 on Friday. Garmin Ltd. has a 12-month low of $169.26 and a 12-month high of $261.69. The firm’s 50-day moving average price is $217.05 and its 200-day moving average price is $221.78. The stock has a market capitalization of $46.22 billion, a price-to-earnings ratio of 27.92, a P/E/G ratio of 3.01 and a beta of 0.94.

Garmin (NYSE:GRMN) last issued its quarterly earnings data on Wednesday, February 18th. The scientific and technical instruments company reported $2.79 earnings per share for the quarter, topping the consensus estimate of $2.39 by $0.40. Garmin had a return on equity of 19.64% and a net margin of 22.96%.The company had revenue of $2.12 billion for the quarter, compared to analysts’ expectations of $2.01 billion. During the same period in the previous year, the firm posted $2.41 earnings per share. The firm’s revenue for the quarter was up 16.6% on a year-over-year basis. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. On average, equities analysts predict that Garmin Ltd. will post 7.8 EPS for the current fiscal year.

Garmin Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 26th. Investors of record on Friday, March 12th will be issued a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a yield of 1.7%. The ex-dividend date is Friday, March 12th. Garmin’s dividend payout ratio is presently 41.86%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on GRMN. Weiss Ratings reiterated a “buy (b)” rating on shares of Garmin in a research report on Thursday, January 22nd. Tigress Financial lifted their price target on shares of Garmin from $310.00 to $320.00 and gave the company a “strong-buy” rating in a report on Friday, February 20th. JPMorgan Chase & Co. increased their price objective on shares of Garmin from $250.00 to $265.00 and gave the company a “neutral” rating in a report on Thursday, February 19th. Zacks Research raised Garmin from a “hold” rating to a “strong-buy” rating in a report on Monday, February 23rd. Finally, Longbow Research upgraded Garmin from a “neutral” rating to a “buy” rating and set a $250.00 target price on the stock in a research report on Wednesday, December 3rd. Two 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $254.00.

Insider Buying and Selling

In other Garmin news, CEO Clifton A. Pemble sold 19,914 shares of Garmin stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $251.58, for a total transaction of $5,009,964.12. Following the completion of the transaction, the chief executive officer directly owned 124,075 shares of the company’s stock, valued at $31,214,788.50. The trade was a 13.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Douglas G. Boessen sold 3,487 shares of the stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $251.66, for a total transaction of $877,538.42. Following the completion of the sale, the chief financial officer directly owned 28,049 shares in the company, valued at approximately $7,058,811.34. This represents a 11.06% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 57,319 shares of company stock valued at $13,650,815 over the last 90 days. 15.38% of the stock is currently owned by insiders.

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.