Teacher Retirement System of Texas Sells 8,348 Shares of Garmin Ltd. $GRMN

Teacher Retirement System of Texas trimmed its position in Garmin Ltd. (NYSE:GRMN) by 5.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 149,841 shares of the scientific and technical instruments company’s stock after selling 8,348 shares during the quarter. Teacher Retirement System of Texas’ holdings in Garmin were worth $30,395,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Garmin by 2.5% in the 3rd quarter. Vanguard Group Inc. now owns 20,197,564 shares of the scientific and technical instruments company’s stock valued at $4,973,044,000 after purchasing an additional 499,235 shares during the period. State Street Corp grew its stake in Garmin by 1.8% in the 3rd quarter. State Street Corp now owns 7,250,844 shares of the scientific and technical instruments company’s stock valued at $1,785,304,000 after buying an additional 126,677 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Garmin by 1.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,494,519 shares of the scientific and technical instruments company’s stock valued at $367,964,000 after buying an additional 16,622 shares during the last quarter. Disciplined Growth Investors Inc. MN grew its stake in Garmin by 0.4% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 1,419,365 shares of the scientific and technical instruments company’s stock valued at $296,250,000 after buying an additional 5,213 shares during the last quarter. Finally, AQR Capital Management LLC grew its stake in Garmin by 15.7% in the 3rd quarter. AQR Capital Management LLC now owns 1,348,955 shares of the scientific and technical instruments company’s stock valued at $330,373,000 after buying an additional 182,548 shares during the last quarter. 81.60% of the stock is owned by institutional investors.

Insider Activity

In other Garmin news, EVP Matthew Munn sold 5,275 shares of the stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $250.97, for a total transaction of $1,323,866.75. Following the transaction, the executive vice president owned 9,876 shares in the company, valued at $2,478,579.72. This represents a 34.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Douglas G. Boessen sold 3,487 shares of the stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $251.66, for a total transaction of $877,538.42. Following the transaction, the chief financial officer owned 28,049 shares in the company, valued at approximately $7,058,811.34. The trade was a 11.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 40,725 shares of company stock worth $10,213,222. Insiders own 15.38% of the company’s stock.

Garmin Stock Down 2.1%

Shares of NYSE:GRMN opened at $260.88 on Friday. The company’s 50 day moving average price is $244.50 and its two-hundred day moving average price is $223.48. Garmin Ltd. has a 12-month low of $178.74 and a 12-month high of $273.32. The firm has a market cap of $50.21 billion, a PE ratio of 30.34, a PEG ratio of 3.19 and a beta of 0.96.

Garmin (NYSE:GRMN) last announced its earnings results on Wednesday, February 18th. The scientific and technical instruments company reported $2.79 earnings per share (EPS) for the quarter, topping 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 prior year, the business posted $2.41 EPS. The business’s revenue was up 16.6% compared to the same quarter last year. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. On average, research analysts expect that Garmin Ltd. will post 9.41 EPS for the current year.

Garmin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 26th. Shareholders of record on Friday, March 12th will be given a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Friday, March 12th. Garmin’s dividend payout ratio is presently 41.86%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. JPMorgan Chase & Co. upped their price target on shares of Garmin from $265.00 to $285.00 and gave the company a “neutral” rating in a research note on Thursday, April 16th. Tigress Financial upped their price target on shares of Garmin from $310.00 to $320.00 and gave the company a “strong-buy” rating in a research note on Friday, February 20th. Barclays set a $240.00 price target on shares of Garmin in a research note on Thursday, February 19th. Zacks Research upgraded shares of Garmin from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 23rd. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Garmin in a research note on Thursday, January 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $258.00.

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.