Nordea Investment Management AB Acquires 10,020 Shares of Garmin Ltd. $GRMN

Nordea Investment Management AB boosted its holdings in Garmin Ltd. (NYSE:GRMN) by 12.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 93,493 shares of the scientific and technical instruments company’s stock after purchasing an additional 10,020 shares during the quarter. Nordea Investment Management AB’s holdings in Garmin were worth $19,011,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Penserra Capital Management LLC increased its position in Garmin by 43.4% during the 3rd quarter. Penserra Capital Management LLC now owns 22,496 shares of the scientific and technical instruments company’s stock valued at $5,538,000 after buying an additional 6,806 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Garmin by 25.9% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,584 shares of the scientific and technical instruments company’s stock worth $5,314,000 after acquiring an additional 4,437 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Garmin by 4.7% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 429,030 shares of the scientific and technical instruments company’s stock worth $105,636,000 after acquiring an additional 19,360 shares in the last quarter. Krilogy Financial LLC purchased a new stake in shares of Garmin in the third quarter worth $1,519,000. Finally, First Horizon Corp purchased a new stake in shares of Garmin in the third quarter worth $7,834,000. Institutional investors own 81.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on GRMN shares. Zacks Research raised Garmin from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 23rd. Weiss Ratings reissued a “buy (b)” rating on shares of Garmin in a research report on Thursday, January 22nd. 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 note on Thursday, February 19th. Tigress Financial lifted their target price on shares of Garmin from $310.00 to $320.00 and gave the stock a “strong-buy” rating in a report on Friday, February 20th. Finally, Barclays set a $240.00 target price on shares of Garmin in a research note on Thursday, February 19th. 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 company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $254.00.

Garmin Price Performance

GRMN stock opened at $241.09 on Wednesday. The stock has a market capitalization of $46.40 billion, a P/E ratio of 28.03, a P/E/G ratio of 2.86 and a beta of 0.94. Garmin Ltd. has a 1-year low of $169.26 and a 1-year high of $261.69. The business has a fifty day moving average price of $224.70 and a 200-day moving average price of $221.72.

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 the consensus estimate of $2.39 by $0.40. Garmin had a return on equity of 19.64% and a net margin of 22.96%.The company had revenue of $2.12 billion for the quarter, compared to analysts’ expectations of $2.01 billion. During the same period last year, the firm posted $2.41 earnings per share. Garmin’s revenue was up 16.6% compared to the same quarter last year. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. As a group, analysts anticipate that Garmin Ltd. will post 7.8 earnings per share for the current year.

Garmin Dividend Announcement

The business 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 1.7%. The ex-dividend date of this dividend is Friday, March 12th. Garmin’s dividend payout ratio (DPR) is presently 41.86%.

Insider Activity

In related news, CEO Clifton A. Pemble sold 19,914 shares of the stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $251.58, for a total transaction of $5,009,964.12. Following the transaction, the chief executive officer owned 124,075 shares in the company, valued at $31,214,788.50. This represents a 13.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Matthew Munn sold 5,275 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president owned 9,876 shares in the company, valued at $2,478,579.72. This represents a 34.82% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 44,403 shares of company stock worth $10,987,074. 19.54% of the stock is owned by corporate insiders.

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.