Johnson Financial Group Inc. Sells 2,148 Shares of Garmin Ltd. $GRMN

Johnson Financial Group Inc. lessened its position in Garmin Ltd. (NYSE:GRMN) by 9.3% during the third quarter, Holdings Channel reports. The fund owned 20,990 shares of the scientific and technical instruments company’s stock after selling 2,148 shares during the quarter. Johnson Financial Group Inc.’s holdings in Garmin were worth $5,168,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GRMN. Brighton Jones LLC boosted its stake in Garmin by 31.3% during the 4th quarter. Brighton Jones LLC now owns 1,943 shares of the scientific and technical instruments company’s stock worth $401,000 after purchasing an additional 463 shares during the last quarter. NewEdge Advisors LLC grew its stake in shares of Garmin by 6.2% during the 1st quarter. NewEdge Advisors LLC now owns 5,885 shares of the scientific and technical instruments company’s stock worth $1,278,000 after purchasing an additional 345 shares during the period. Woodline Partners LP boosted its holdings in shares of Garmin by 40.6% during the 1st quarter. Woodline Partners LP now owns 13,017 shares of the scientific and technical instruments company’s stock valued at $2,826,000 after acquiring an additional 3,757 shares in the last quarter. Focus Partners Wealth increased its holdings in shares of Garmin by 51.1% in the 1st quarter. Focus Partners Wealth now owns 6,811 shares of the scientific and technical instruments company’s stock worth $1,479,000 after buying an additional 2,304 shares during the last quarter. Finally, Sivia Capital Partners LLC grew its holdings in shares of Garmin by 17.0% during the second quarter. Sivia Capital Partners LLC now owns 1,662 shares of the scientific and technical instruments company’s stock worth $347,000 after purchasing an additional 242 shares during the last quarter. 81.60% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Garmin

In other Garmin news, CEO Clifton A. Pemble sold 19,914 shares of Garmin stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $251.58, for a total value of $5,009,964.12. Following the transaction, the chief executive officer directly owned 124,075 shares in the company, valued at approximately $31,214,788.50. This trade represents a 13.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Susan Lyman sold 3,805 shares of the company’s stock in a transaction on Thursday, February 26th. The shares were 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. This represents a 33.74% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 57,319 shares of company stock valued at $13,650,815 in the last ninety days. 15.38% of the stock is owned by insiders.

Garmin Trading Down 0.2%

GRMN stock opened at $235.64 on Friday. The firm has a 50-day moving average of $220.61 and a two-hundred day moving average of $222.05. Garmin Ltd. has a 12 month low of $169.26 and a 12 month high of $261.69. The company has a market cap of $45.36 billion, a price-to-earnings ratio of 27.40, a PEG ratio of 2.83 and a beta of 0.94.

Garmin (NYSE:GRMN) last released 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. The company had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.01 billion. Garmin had a net margin of 22.96% and a return on equity of 19.64%. Garmin’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 earned $2.41 EPS. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. As a group, equities analysts forecast that Garmin Ltd. will post 7.8 earnings per share for the current year.

Garmin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 26th. Stockholders of record on Friday, March 12th will be paid 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 1.8%. Garmin’s payout ratio is presently 41.86%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on GRMN shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Garmin in a research report on Thursday, January 22nd. Tigress Financial lifted their price objective on Garmin from $310.00 to $320.00 and gave the company a “strong-buy” rating in a research report on Friday, February 20th. Zacks Research upgraded Garmin from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 23rd. Longbow Research upgraded Garmin from a “neutral” rating to a “buy” rating and set a $250.00 price objective for the company in a research report on Wednesday, December 3rd. Finally, Barclays set a $240.00 target price on Garmin in a report on Thursday, February 19th. 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 issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price 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.