Garmin Ltd. $GRMN Shares Acquired by Empirical Asset Management LLC

Empirical Asset Management LLC boosted its holdings in Garmin Ltd. (NYSE:GRMN) by 122.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,635 shares of the scientific and technical instruments company’s stock after purchasing an additional 3,652 shares during the quarter. Empirical Asset Management LLC’s holdings in Garmin were worth $1,634,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in GRMN. MAI Capital Management raised its holdings in shares of Garmin by 14.1% during the third quarter. MAI Capital Management now owns 3,053 shares of the scientific and technical instruments company’s stock worth $752,000 after purchasing an additional 377 shares during the period. Waddell & Associates LLC grew its position in shares of Garmin by 36.6% during the 3rd quarter. Waddell & Associates LLC now owns 1,471 shares of the scientific and technical instruments company’s stock valued at $362,000 after buying an additional 394 shares during the last quarter. Colonial Trust Co SC grew its position in shares of Garmin by 290.8% during the 3rd quarter. Colonial Trust Co SC now owns 426 shares of the scientific and technical instruments company’s stock valued at $105,000 after buying an additional 317 shares during the last quarter. Mufg Securities Americas Inc. raised its stake in Garmin by 29.3% during the third quarter. Mufg Securities Americas Inc. now owns 4,413 shares of the scientific and technical instruments company’s stock worth $1,087,000 after acquiring an additional 999 shares during the period. Finally, Compound Planning Inc. raised its stake in Garmin by 10.6% during the third quarter. Compound Planning Inc. now owns 1,652 shares of the scientific and technical instruments company’s stock worth $407,000 after acquiring an additional 158 shares during the period. Institutional investors own 81.60% of the company’s stock.

Garmin Price Performance

Shares of GRMN stock opened at $251.56 on Wednesday. Garmin Ltd. has a 12-month low of $169.26 and a 12-month high of $261.69. The firm has a market capitalization of $48.42 billion, a price-to-earnings ratio of 29.25, a price-to-earnings-growth ratio of 2.44 and a beta of 1.00. The business has a 50 day simple moving average of $210.42 and a 200 day simple moving average of $220.76.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $2.39 by $0.40. The company had revenue of $2.12 billion during the quarter, compared to analyst estimates of $2.01 billion. Garmin had a return on equity of 19.64% and a net margin of 22.96%.The firm’s quarterly revenue was up 16.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.41 EPS. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. On average, equities analysts anticipate that Garmin Ltd. will post 7.8 EPS 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 given a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Friday, March 12th. Garmin’s payout ratio is 41.86%.

Insider Activity at Garmin

In other news, CEO Clifton A. Pemble sold 10,431 shares of Garmin stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $206.23, for a total transaction of $2,151,185.13. Following the transaction, the chief executive officer directly owned 135,180 shares in the company, valued at approximately $27,878,171.40. This trade represents a 7.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Sean Biddlecombe sold 1,071 shares of the company’s stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $240.76, for a total transaction of $257,853.96. Following the completion of the sale, the director directly owned 7,884 shares of the company’s stock, valued at $1,898,151.84. The trade was a 11.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 18,144 shares of company stock valued at $3,798,628 over the last quarter. Corporate insiders own 19.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on GRMN. Weiss Ratings restated a “buy (b)” rating on shares of Garmin in a research note on Thursday, January 22nd. Morgan Stanley boosted their price objective on Garmin from $193.00 to $195.00 and gave the company an “underweight” rating in a research report on Thursday, October 30th. 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 note on Friday. JPMorgan Chase & Co. increased their target price on Garmin from $250.00 to $265.00 and gave the stock a “neutral” rating in a research report on Thursday, February 19th. 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 report on Wednesday, December 3rd. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Garmin currently has an average rating of “Moderate Buy” and an average price target of $254.00.

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.