Fieldview Capital Management LLC Sells 23,369 Shares of Garmin Ltd. $GRMN

Fieldview Capital Management LLC lessened its stake in Garmin Ltd. (NYSE:GRMN) by 83.8% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 4,528 shares of the scientific and technical instruments company’s stock after selling 23,369 shares during the quarter. Fieldview Capital Management LLC’s holdings in Garmin were worth $1,115,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Swiss National Bank lifted its position in Garmin by 1.3% in the 3rd quarter. Swiss National Bank now owns 471,800 shares of the scientific and technical instruments company’s stock valued at $116,167,000 after acquiring an additional 5,900 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in Garmin by 19.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 305,655 shares of the scientific and technical instruments company’s stock worth $75,246,000 after purchasing an additional 49,826 shares in the last quarter. Inceptionr LLC bought a new position in Garmin during the 3rd quarter worth about $351,000. Meiji Yasuda Life Insurance Co raised its stake in shares of Garmin by 110.4% in the 3rd quarter. Meiji Yasuda Life Insurance Co now owns 2,782 shares of the scientific and technical instruments company’s stock valued at $685,000 after purchasing an additional 1,460 shares during the period. Finally, Meiji Yasuda Asset Management Co Ltd. raised its stake in shares of Garmin by 8.0% in the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 3,925 shares of the scientific and technical instruments company’s stock valued at $966,000 after purchasing an additional 291 shares during the period. Institutional investors own 81.60% of the company’s stock.

Garmin Price Performance

Shares of NYSE:GRMN opened at $242.99 on Tuesday. The company’s 50-day moving average price is $218.56 and its two-hundred day moving average price is $221.82. Garmin Ltd. has a one year low of $169.26 and a one year high of $261.69. The stock has a market capitalization of $46.77 billion, a PE ratio of 28.25, a price-to-earnings-growth ratio of 2.92 and a beta of 0.94.

Garmin (NYSE:GRMN) last announced its quarterly earnings data on Wednesday, February 18th. The scientific and technical instruments company reported $2.79 earnings per share for the quarter, beating the consensus estimate of $2.39 by $0.40. The company had revenue of $2.12 billion during 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%.Garmin’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same quarter last year, the company earned $2.41 EPS. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. On average, analysts anticipate that Garmin Ltd. will post 7.8 earnings per share for the current fiscal year.

Garmin Dividend Announcement

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 1.7%. The ex-dividend date is Friday, March 12th. Garmin’s dividend payout ratio (DPR) is currently 41.86%.

Insider Transactions at Garmin

In other news, EVP Matthew Munn sold 5,275 shares of the stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $250.97, for a total value of $1,323,866.75. Following the completion of the sale, 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Patrick Desbois sold 6,694 shares of the firm’s stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $251.65, for a total transaction of $1,684,545.10. Following the completion of the transaction, the chief operating officer directly owned 58,540 shares of the company’s stock, valued at $14,731,591. This represents a 10.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 57,319 shares of company stock valued at $13,650,815. 19.54% of the stock is owned by insiders.

Analysts Set New Price Targets

GRMN has been the subject of several recent research reports. Tigress Financial upped their price objective on Garmin from $310.00 to $320.00 and gave the stock a “strong-buy” rating in a research report on Friday, February 20th. JPMorgan Chase & Co. lifted their target price on Garmin from $250.00 to $265.00 and gave the company a “neutral” rating in a research report 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 raised Garmin from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 23rd. Finally, Longbow Research raised shares of Garmin from a “neutral” rating to a “buy” rating and set a $250.00 price target for the company in a research note on Wednesday, December 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $254.00.

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.