GHP Investment Advisors Inc. Sells 2,103 Shares of Garmin Ltd. $GRMN

GHP Investment Advisors Inc. decreased its position in shares of Garmin Ltd. (NYSE:GRMN) by 3.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 59,149 shares of the scientific and technical instruments company’s stock after selling 2,103 shares during the quarter. GHP Investment Advisors Inc.’s holdings in Garmin were worth $11,998,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Richardson Financial Services Inc. boosted its stake in Garmin by 62.2% during the 3rd quarter. Richardson Financial Services Inc. now owns 133 shares of the scientific and technical instruments company’s stock worth $33,000 after acquiring an additional 51 shares during the last quarter. Cornerstone Planning Group LLC boosted its stake in Garmin by 788.9% during the 3rd quarter. Cornerstone Planning Group LLC now owns 160 shares of the scientific and technical instruments company’s stock worth $39,000 after acquiring an additional 142 shares during the last quarter. GraniteShares Advisors LLC bought a new position in Garmin during the 4th quarter worth approximately $41,000. Tradewinds Capital Management LLC bought a new position in Garmin during the 3rd quarter worth approximately $44,000. Finally, SJS Investment Consulting Inc. boosted its stake in Garmin by 1,530.8% during the 3rd quarter. SJS Investment Consulting Inc. now owns 212 shares of the scientific and technical instruments company’s stock worth $52,000 after acquiring an additional 199 shares during the last quarter. Institutional investors own 81.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Tigress Financial lifted their price objective on shares of Garmin from $310.00 to $320.00 and gave the stock a “strong-buy” rating in a research note on Friday, February 20th. Weiss Ratings reissued a “buy (b)” rating on shares of Garmin in a research note on Thursday, January 22nd. Barclays set a $240.00 price objective on shares of Garmin in a research note on Thursday, February 19th. JPMorgan Chase & Co. lifted their price objective on shares of Garmin from $265.00 to $285.00 and gave the stock a “neutral” rating in a research note on Thursday. Finally, Zacks Research raised shares of Garmin from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 23rd. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Garmin currently has an average rating of “Moderate Buy” and an average target price of $258.00.

Insider Transactions at Garmin

In other Garmin news, COO Patrick Desbois sold 6,694 shares of Garmin stock in a transaction that occurred on 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 transaction, the chief operating officer owned 58,540 shares of the company’s stock, valued at approximately $14,731,591. The trade was a 10.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Clifton A. Pemble sold 19,914 shares of Garmin stock in a transaction that occurred 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 in the company, valued at approximately $31,214,788.50. The trade was a 13.83% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 40,725 shares of company stock valued at $10,213,222. 15.38% of the stock is currently owned by insiders.

Garmin Stock Performance

Shares of GRMN opened at $267.33 on Friday. Garmin Ltd. has a twelve month low of $178.74 and a twelve month high of $273.32. The firm’s 50 day moving average price is $239.79 and its two-hundred day moving average price is $223.17. The firm has a market cap of $51.46 billion, a P/E ratio of 31.09, a PEG ratio of 3.17 and a beta of 0.96.

Garmin (NYSE:GRMN) last announced its quarterly earnings results on Wednesday, February 18th. The scientific and technical instruments company reported $2.79 earnings per share for the quarter, beating analysts’ consensus estimates of $2.39 by $0.40. Garmin had a net margin of 22.96% and a return on equity of 19.64%. The firm had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.01 billion. During the same quarter in the previous year, the firm posted $2.41 earnings per share. The business’s revenue 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, sell-side analysts anticipate that Garmin Ltd. will post 7.8 earnings per share for the current fiscal year.

Garmin Announces Dividend

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. 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 1.6%. Garmin’s payout ratio is presently 41.86%.

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.