Garmin Ltd. $GRMN Shares Acquired by Handelsbanken Fonder AB

Handelsbanken Fonder AB lifted its stake in shares of Garmin Ltd. (NYSE:GRMN) by 12.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 208,469 shares of the scientific and technical instruments company’s stock after purchasing an additional 23,821 shares during the period. Handelsbanken Fonder AB’s holdings in Garmin were worth $51,329,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mather Group LLC. boosted its holdings in Garmin by 1.2% in the 3rd quarter. Mather Group LLC. now owns 3,749 shares of the scientific and technical instruments company’s stock worth $923,000 after buying an additional 44 shares during the last quarter. Smith Moore & CO. lifted its position in shares of Garmin by 4.3% in the second quarter. Smith Moore & CO. now owns 1,151 shares of the scientific and technical instruments company’s stock valued at $240,000 after acquiring an additional 47 shares in the last quarter. BSW Wealth Partners boosted its stake in shares of Garmin by 2.9% in the third quarter. BSW Wealth Partners now owns 1,724 shares of the scientific and technical instruments company’s stock worth $425,000 after acquiring an additional 48 shares during the last quarter. SYM FINANCIAL Corp increased its position in shares of Garmin by 4.0% during the third quarter. SYM FINANCIAL Corp now owns 1,294 shares of the scientific and technical instruments company’s stock worth $319,000 after purchasing an additional 50 shares in the last quarter. Finally, Alpine Woods Capital Investors LLC raised its stake in Garmin by 0.6% in the 3rd quarter. Alpine Woods Capital Investors LLC now owns 9,314 shares of the scientific and technical instruments company’s stock valued at $2,293,000 after purchasing an additional 51 shares during the last quarter. 81.60% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Matthew Munn sold 5,275 shares of the business’s stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $250.97, for a total value of $1,323,866.75. Following the sale, the executive vice president directly owned 9,876 shares of the company’s stock, valued at approximately $2,478,579.72. The trade was a 34.82% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Susan Lyman sold 3,805 shares of the company’s stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $251.32, for a total transaction of $956,272.60. Following the completion of the transaction, the vice president owned 7,471 shares in the company, valued at approximately $1,877,611.72. This represents a 33.74% 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 57,319 shares of company stock valued at $13,650,815 over the last three months. Company insiders own 15.38% of the company’s stock.

More Garmin News

Here are the key news stories impacting Garmin this week:

• Positive Sentiment: Rare institutional inflows continue to target Garmin, a long-term bullish technical/fund flow signal that some investors view as a structural tailwind. This can attract new demand and partly offset selling pressure. Read More.
• Neutral Sentiment: Despite the sales, insiders still retain sizable holdings (for example, CEO Clifton Pemble owns 124,075 shares after his sale), which can temper concerns that leadership is abandoning the stock. Read More.
• Negative Sentiment: Large, coordinated insider selling likely pressured the share price: CEO Clifton Pemble sold 19,914 shares (~$5.01M), COO Patrick Desbois sold 6,694 shares (~$1.68M), EVP Matthew Munn sold 5,275 shares (~$1.32M), CFO Douglas Boessen sold 3,487 shares (~$877.5K), and VP Susan Lyman sold 3,805 shares (~$956K). These trades represent double-digit percentage reductions for several executives and are being interpreted by some investors as a negative signal or as near-term supply hitting the market. SEC filings for each sale: Read More., Read More., Read More., Read More., Read More.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Zacks Research raised shares of Garmin from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 23rd. Longbow Research upgraded shares of Garmin from a “neutral” rating to a “buy” rating and set a $250.00 price target on the stock in a research report on Wednesday, December 3rd. JPMorgan Chase & Co. upped their price objective on shares of Garmin from $250.00 to $265.00 and gave the company a “neutral” rating in a research note on Thursday, February 19th. Barclays set a $240.00 target price on shares of Garmin in a research note on Thursday, February 19th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Garmin in a research report on Thursday, January 22nd. Two equities 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 assigned a Sell rating to the stock. Based on data from MarketBeat, Garmin presently has a consensus rating of “Moderate Buy” and an average price target of $254.00.

Garmin Price Performance

Shares of NYSE GRMN opened at $252.42 on Friday. The company has a market capitalization of $48.59 billion, a P/E ratio of 29.35, a P/E/G ratio of 3.04 and a beta of 1.00. The company has a 50 day simple moving average of $213.48 and a 200-day simple moving average of $221.37. Garmin Ltd. has a 1 year low of $169.26 and a 1 year high of $261.69.

Garmin (NYSE:GRMN) last released its quarterly earnings data on Wednesday, February 18th. The scientific and technical instruments company reported $2.79 EPS for the quarter, beating analysts’ consensus estimates of $2.39 by $0.40. The firm had revenue of $2.12 billion for the quarter, compared to analysts’ expectations 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 period in the prior year, the firm posted $2.41 earnings per share. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. As a group, research analysts expect that Garmin Ltd. will post 7.8 EPS for the current year.

Garmin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 26th. Investors of record on Friday, March 12th will be issued a $1.05 dividend. This represents a $4.20 annualized dividend and a yield of 1.7%. The ex-dividend date is Friday, March 12th. Garmin’s payout ratio is 41.86%.

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.