VCI Wealth Management LLC Raises Position in Garmin Ltd. $GRMN

VCI Wealth Management LLC boosted its holdings in Garmin Ltd. (NYSE:GRMN) by 55.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 10,113 shares of the scientific and technical instruments company’s stock after buying an additional 3,604 shares during the period. VCI Wealth Management LLC’s holdings in Garmin were worth $2,051,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Richardson Financial Services Inc. boosted its position in shares of Garmin by 62.2% in the third 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 raised its stake in Garmin by 788.9% during the third quarter. Cornerstone Planning Group LLC now owns 160 shares of the scientific and technical instruments company’s stock worth $39,000 after purchasing an additional 142 shares during the period. GraniteShares Advisors LLC acquired a new position in shares of Garmin in the 4th quarter valued at $41,000. Tradewinds Capital Management LLC purchased a new stake in shares of Garmin during the 3rd quarter valued at $44,000. Finally, SJS Investment Consulting Inc. increased its holdings in shares of 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 buying an additional 199 shares during the last quarter. Institutional investors and hedge funds own 81.60% of the company’s stock.

Analysts Set New Price Targets

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

Garmin Stock Up 1.1%

Shares of GRMN traded up $2.97 during midday trading on Friday, hitting $267.33. The company had a trading volume of 956,051 shares, compared to its average volume of 725,152. The company’s 50 day moving average price is $239.79 and its 200 day moving average price is $223.01. The stock has a market cap of $51.46 billion, a price-to-earnings ratio of 31.09, a PEG ratio of 3.17 and a beta of 0.96. Garmin Ltd. has a 52 week low of $178.74 and a 52 week high of $273.32.

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

Garmin Dividend Announcement

The firm also recently declared 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 1.6%. The ex-dividend date of this dividend is Friday, March 12th. Garmin’s payout ratio is 41.86%.

Insider Buying and Selling at Garmin

In other Garmin news, EVP Matthew Munn sold 5,275 shares of the business’s stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $250.97, for a total transaction of $1,323,866.75. Following the completion of the transaction, the executive vice president owned 9,876 shares in the company, valued at approximately $2,478,579.72. The trade was a 34.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Patrick Desbois sold 6,694 shares of the firm’s stock in a transaction 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 directly owned 58,540 shares in the company, valued at $14,731,591. This trade represents a 10.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 40,725 shares of company stock valued at $10,213,222. 15.38% of the stock is currently owned by insiders.

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.