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

Teacher Retirement System of Texas reduced its stake in Garmin Ltd. (NYSE:GRMN) by 5.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 149,841 shares of the scientific and technical instruments company’s stock after selling 8,348 shares during the period. Teacher Retirement System of Texas owned 0.08% of Garmin worth $30,395,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Confluence Wealth Services Inc. boosted its position in shares of Garmin by 2.9% in the 4th quarter. Confluence Wealth Services Inc. now owns 7,347 shares of the scientific and technical instruments company’s stock worth $1,490,000 after purchasing an additional 205 shares during the last quarter. M&T Bank Corp boosted its position in shares of Garmin by 5.6% in the 4th quarter. M&T Bank Corp now owns 19,117 shares of the scientific and technical instruments company’s stock worth $3,878,000 after purchasing an additional 1,017 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH boosted its position in shares of Garmin by 15.1% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 144,245 shares of the scientific and technical instruments company’s stock worth $29,394,000 after purchasing an additional 18,895 shares during the last quarter. TABR Capital Management LLC bought a new position in shares of Garmin in the 4th quarter worth $3,946,000. Finally, Planned Solutions Inc. boosted its position in shares of Garmin by 4.1% in the 4th quarter. Planned Solutions Inc. now owns 1,534 shares of the scientific and technical instruments company’s stock worth $311,000 after purchasing an additional 60 shares during the last quarter. 81.60% of the stock is currently owned by institutional investors.

Garmin Price Performance

GRMN stock opened at $260.88 on Friday. The stock has a market capitalization of $50.21 billion, a P/E ratio of 30.34, a P/E/G ratio of 3.19 and a beta of 0.96. The business has a 50-day moving average of $244.50 and a 200-day moving average of $223.48. Garmin Ltd. has a fifty-two week low of $178.74 and a fifty-two week high of $273.32.

Garmin (NYSE:GRMN) last posted its quarterly earnings data 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 net margin of 22.96% and a return on equity of 19.64%. The company had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $2.01 billion. During the same period in the prior year, the business posted $2.41 EPS. The company’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 analysts expect that Garmin Ltd. will post 9.41 EPS for the current year.

Garmin Announces Dividend

The firm 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. 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 currently 41.86%.

Analyst Upgrades and Downgrades

GRMN has been the topic of several recent research reports. Barclays set a $240.00 price target on Garmin in a research report on Thursday, February 19th. Zacks Research raised Garmin from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 23rd. JPMorgan Chase & Co. raised their price objective on Garmin from $265.00 to $285.00 and gave the stock a “neutral” rating in a research note on Thursday, April 16th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Garmin in a research note on Thursday, January 22nd. Finally, Tigress Financial raised 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, February 20th. Two research 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 assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $258.00.

Insider Activity at Garmin

In other news, VP Susan Lyman sold 3,805 shares of the stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $251.32, for a total transaction of $956,272.60. Following the completion of the transaction, the vice president directly owned 7,471 shares in the company, valued at $1,877,611.72. This represents a 33.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Douglas G. Boessen sold 3,487 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $7,058,811.34. This represents a 11.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 40,725 shares of company stock worth $10,213,222. Corporate insiders own 15.38% of the company’s stock.

Garmin Company 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.