Siemens Fonds Invest GmbH Boosts Stock Position in Garmin Ltd. $GRMN

Siemens Fonds Invest GmbH increased its stake in shares of Garmin Ltd. (NYSE:GRMN) by 21.4% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 23,648 shares of the scientific and technical instruments company’s stock after buying an additional 4,161 shares during the quarter. Siemens Fonds Invest GmbH’s holdings in Garmin were worth $5,823,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Garmin during the 2nd quarter valued at approximately $410,304,000. Vanguard Group Inc. grew its position in Garmin by 6.9% in the second quarter. Vanguard Group Inc. now owns 19,698,329 shares of the scientific and technical instruments company’s stock worth $4,111,435,000 after acquiring an additional 1,273,163 shares during the period. Amundi grew its position in Garmin by 138.0% in the second quarter. Amundi now owns 1,158,702 shares of the scientific and technical instruments company’s stock worth $247,255,000 after acquiring an additional 671,859 shares during the period. Artisan Partners Limited Partnership increased its stake in Garmin by 6.4% during the second quarter. Artisan Partners Limited Partnership now owns 5,892,150 shares of the scientific and technical instruments company’s stock worth $1,229,810,000 after acquiring an additional 356,161 shares during the last quarter. Finally, Marshall Wace LLP increased its stake in Garmin by 292.1% during the second quarter. Marshall Wace LLP now owns 135,636 shares of the scientific and technical instruments company’s stock worth $28,310,000 after acquiring an additional 101,043 shares during the last quarter. Institutional investors and hedge funds own 81.60% of the company’s stock.

Garmin Price Performance

Garmin stock opened at $233.55 on Friday. The stock has a market cap of $44.95 billion, a PE ratio of 27.16, a P/E/G ratio of 2.82 and a beta of 0.94. The stock’s fifty day moving average is $221.24 and its two-hundred day moving average is $222.06. 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 earnings per share 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 for the quarter, compared to analysts’ expectations of $2.01 billion. During the same quarter last year, the company earned $2.41 earnings per share. The firm’s revenue for the quarter was up 16.6% on a year-over-year basis. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. On average, research analysts expect that Garmin Ltd. will post 7.8 earnings per share for the current fiscal year.

Garmin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 26th. Stockholders of record on Friday, March 12th will be paid a $1.05 dividend. This represents a $4.20 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Friday, March 12th. Garmin’s dividend payout ratio (DPR) is 41.86%.

Insider Buying and Selling

In other Garmin news, EVP Matthew Munn sold 5,275 shares of Garmin stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $250.97, for a total value of $1,323,866.75. Following the sale, the executive vice president 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 sale 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 Garmin stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $251.58, for a total value of $5,009,964.12. Following the completion of the sale, the chief executive officer owned 124,075 shares in the company, valued at approximately $31,214,788.50. This trade represents a 13.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 57,319 shares of company stock worth $13,650,815. 15.38% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

GRMN has been the topic of a number of recent analyst reports. Barclays set a $240.00 target price on shares of Garmin in a research report on Thursday, February 19th. JPMorgan Chase & Co. lifted their price target 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. Zacks Research upgraded shares of Garmin from a “hold” rating to a “strong-buy” rating in a report on Monday, February 23rd. Tigress Financial increased their price objective on shares of Garmin from $310.00 to $320.00 and gave the stock a “strong-buy” rating in a research report on Friday, February 20th. Finally, Longbow Research raised Garmin from a “neutral” rating to a “buy” rating and set a $250.00 target price on the stock in a research report on Wednesday, December 3rd. Two 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 company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $254.00.

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.