Garmin Ltd. $GRMN Shares Purchased by Legal & General Group Plc

Legal & General Group Plc raised its stake in shares of Garmin Ltd. (NYSE:GRMN) by 4.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,180,254 shares of the scientific and technical instruments company’s stock after acquiring an additional 53,880 shares during the period. Legal & General Group Plc owned approximately 0.61% of Garmin worth $290,602,000 as of its most recent SEC filing.

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

Insider Buying and Selling

In related news, CFO Douglas G. Boessen sold 3,487 shares of the stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $251.66, for a total transaction of $877,538.42. Following the completion of the sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Susan Lyman sold 3,805 shares of the firm’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 transaction of $956,272.60. Following the completion of the transaction, the vice president owned 7,471 shares in the company, 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. Over the last quarter, insiders sold 57,319 shares of company stock worth $13,650,815. Corporate insiders own 15.38% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on GRMN shares. JPMorgan Chase & Co. raised their price objective on shares of Garmin from $250.00 to $265.00 and gave the company a “neutral” rating in a research report on Thursday, February 19th. Weiss Ratings reiterated a “buy (b)” rating on shares of Garmin in a research report on Thursday, January 22nd. Barclays set a $240.00 target price on Garmin in a research note 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 report on Wednesday, December 3rd. Finally, Tigress Financial lifted their price objective on Garmin from $310.00 to $320.00 and gave the stock a “strong-buy” rating in a research report on Friday, February 20th. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Garmin presently has a consensus rating of “Moderate Buy” and a consensus price target of $254.00.

Garmin Stock Performance

Shares of GRMN stock opened at $236.02 on Thursday. Garmin Ltd. has a one year low of $169.26 and a one year high of $261.69. The company has a 50 day moving average price of $219.96 and a 200 day moving average price of $221.96. The firm has a market capitalization of $45.43 billion, a price-to-earnings ratio of 27.44, a price-to-earnings-growth ratio of 2.89 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 earnings per share for the quarter, beating analysts’ consensus estimates of $2.39 by $0.40. The company had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.01 billion. Garmin had a net margin of 22.96% and a return on equity of 19.64%. Garmin’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same quarter last year, the business earned $2.41 EPS. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. As a group, equities analysts forecast that Garmin Ltd. will post 7.8 EPS for the current fiscal year.

Garmin Announces Dividend

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