Captrust Financial Advisors Acquires 12,738 Shares of Garmin Ltd. $GRMN

Captrust Financial Advisors raised its holdings in shares of Garmin Ltd. (NYSE:GRMN) by 1.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 841,287 shares of the scientific and technical instruments company’s stock after acquiring an additional 12,738 shares during the quarter. Captrust Financial Advisors owned about 0.44% of Garmin worth $207,142,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in GRMN. Vanguard Group Inc. lifted its holdings in Garmin by 2.5% during the 3rd quarter. Vanguard Group Inc. now owns 20,197,564 shares of the scientific and technical instruments company’s stock worth $4,973,044,000 after purchasing an additional 499,235 shares in the last quarter. State Street Corp boosted its position in shares of Garmin by 1.8% in the third 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 acquiring an additional 126,677 shares during the period. Artisan Partners Limited Partnership grew its stake in Garmin by 6.4% during the second quarter. Artisan Partners Limited Partnership now owns 5,892,150 shares of the scientific and technical instruments company’s stock valued at $1,229,810,000 after acquiring an additional 356,161 shares in the last quarter. Norges Bank bought a new stake in Garmin during the 2nd quarter worth approximately $410,304,000. Finally, Dimensional Fund Advisors LP lifted 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 worth $367,964,000 after purchasing an additional 16,622 shares in the last quarter. 81.60% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, COO Patrick Desbois sold 6,694 shares of the business’s stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $251.65, for a total transaction of $1,684,545.10. Following the transaction, the chief operating officer owned 58,540 shares in the company, valued at $14,731,591. The trade was a 10.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Susan Lyman sold 3,805 shares of the company’s stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $251.32, for a total value of $956,272.60. Following the transaction, the vice president directly owned 7,471 shares of the company’s stock, valued at $1,877,611.72. The trade was a 33.74% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 44,403 shares of company stock valued at $10,987,074 over the last ninety days. Corporate insiders own 19.54% of the company’s stock.

Garmin Trading Up 0.1%

GRMN opened at $235.06 on Wednesday. Garmin Ltd. has a 12 month low of $169.26 and a 12 month high of $261.69. The business’s 50-day moving average price is $222.37 and its 200-day moving average price is $221.79. The company has a market cap of $45.24 billion, a P/E ratio of 27.33, a P/E/G ratio of 2.81 and a beta of 0.94.

Garmin (NYSE:GRMN) last announced its quarterly earnings results on Wednesday, February 18th. The scientific and technical instruments company reported $2.79 EPS for the quarter, topping analysts’ consensus estimates of $2.39 by $0.40. Garmin had a return on equity of 19.64% and a net margin of 22.96%.The business had revenue of $2.12 billion for the quarter, compared to analysts’ expectations of $2.01 billion. During the same period in the previous year, the firm earned $2.41 EPS. The business’s quarterly revenue was up 16.6% on a year-over-year basis. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. Equities research analysts forecast that Garmin Ltd. will post 7.8 earnings per share for the current fiscal year.

Garmin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 26th. Stockholders of record on Friday, March 12th will be issued a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Friday, March 12th. Garmin’s dividend payout ratio is currently 41.86%.

Analyst Ratings Changes

Several research firms have recently weighed in on GRMN. Longbow Research raised shares of Garmin from a “neutral” rating to a “buy” rating and set a $250.00 price target on the stock in a report on Wednesday, December 3rd. Weiss Ratings restated a “buy (b)” rating on shares of Garmin in a research report on Thursday, January 22nd. 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 report on Monday, February 23rd. Finally, JPMorgan Chase & Co. raised their price target on Garmin from $250.00 to $265.00 and gave the company a “neutral” rating in a research report on Thursday, February 19th. Two research 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 assigned a Sell rating to the company. According to MarketBeat, Garmin presently has an average rating of “Moderate Buy” and an average target price 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.