DB Fitzpatrick & Co Inc Buys Shares of 7,096 Garmin Ltd. $GRMN

DB Fitzpatrick & Co Inc purchased a new position in shares of Garmin Ltd. (NYSE:GRMN) in the 4th quarter, Holdings Channel reports. The institutional investor purchased 7,096 shares of the scientific and technical instruments company’s stock, valued at approximately $1,439,000. Garmin makes up about 1.3% of DB Fitzpatrick & Co Inc’s portfolio, making the stock its 24th largest position.

Other institutional investors and hedge funds have also made changes to their positions in the company. Intesa Sanpaolo S.p.A. acquired a new stake in Garmin in the 4th quarter valued at about $444,000. Royal Fund Management LLC raised its position in Garmin by 17.9% during the fourth quarter. Royal Fund Management LLC now owns 26,953 shares of the scientific and technical instruments company’s stock worth $5,477,000 after acquiring an additional 4,099 shares during the last quarter. Mn Services Vermogensbeheer B.V. raised its position in Garmin by 1.5% during the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 58,757 shares of the scientific and technical instruments company’s stock worth $11,919,000 after acquiring an additional 857 shares during the last quarter. Barlow Wealth Partners LLC lifted its holdings in shares of Garmin by 1.2% in the fourth quarter. Barlow Wealth Partners LLC now owns 75,497 shares of the scientific and technical instruments company’s stock valued at $16,024,000 after purchasing an additional 927 shares in the last quarter. Finally, Wedge Capital Management L L P NC lifted its holdings in shares of Garmin by 24.4% in the fourth quarter. Wedge Capital Management L L P NC now owns 167,990 shares of the scientific and technical instruments company’s stock valued at $34,077,000 after purchasing an additional 32,945 shares in the last quarter. 81.60% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Garmin

In related news, VP Susan Lyman sold 3,805 shares of the business’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 completion of the sale, the vice president directly owned 7,471 shares in the company, valued at approximately $1,877,611.72. The trade was a 33.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Clifton A. Pemble sold 19,914 shares of the company’s stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $251.58, for a total transaction of $5,009,964.12. Following the transaction, the chief executive officer directly owned 124,075 shares of the company’s stock, valued at $31,214,788.50. This trade represents a 13.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 44,403 shares of company stock worth $10,987,074. Corporate insiders own 19.54% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on GRMN. Tigress Financial raised 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. Zacks Research raised Garmin from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 23rd. Barclays set a $240.00 target price on Garmin in a report on Thursday, February 19th. Longbow Research raised Garmin from a “neutral” rating to a “buy” rating and set a $250.00 price target for the company in a research report on Wednesday, December 3rd. Finally, JPMorgan Chase & Co. boosted their price target on Garmin from $250.00 to $265.00 and gave the stock a “neutral” rating in a report on Thursday, February 19th. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $254.00.

Garmin Stock Up 2.7%

GRMN stock opened at $232.20 on Wednesday. The stock has a market capitalization of $44.69 billion, a price-to-earnings ratio of 27.00, a price-to-earnings-growth ratio of 2.71 and a beta of 0.94. Garmin Ltd. has a 52-week low of $169.26 and a 52-week high of $261.69. The stock’s fifty day simple moving average is $227.12 and its 200-day simple moving average is $221.55.

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

Garmin Dividend Announcement

The business 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 dividend of $1.05 per share. 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 dividend payout ratio is currently 41.86%.

Garmin 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.