Avanza Fonder AB Takes $754,000 Position in Garmin Ltd. $GRMN

Avanza Fonder AB bought a new position in Garmin Ltd. (NYSE:GRMN) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,716 shares of the scientific and technical instruments company’s stock, valued at approximately $754,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Richardson Financial Services Inc. increased its stake in Garmin by 62.2% in the 3rd quarter. Richardson Financial Services Inc. now owns 133 shares of the scientific and technical instruments company’s stock worth $33,000 after acquiring an additional 51 shares during the last quarter. Cornerstone Planning Group LLC boosted its position in shares of Garmin by 788.9% during the 3rd quarter. Cornerstone Planning Group LLC now owns 160 shares of the scientific and technical instruments company’s stock valued at $39,000 after acquiring an additional 142 shares during the last quarter. Tradewinds Capital Management LLC bought a new position in shares of Garmin during the 3rd quarter valued at approximately $44,000. SJS Investment Consulting Inc. grew its holdings in shares of Garmin by 1,530.8% in the third quarter. SJS Investment Consulting Inc. now owns 212 shares of the scientific and technical instruments company’s stock valued at $52,000 after purchasing an additional 199 shares in the last quarter. Finally, Mascoma Wealth Management LLC purchased a new position in shares of Garmin in the third quarter valued at $54,000. 81.60% of the stock is owned by institutional investors.

Garmin Stock Performance

Shares of NYSE GRMN opened at $244.76 on Thursday. The business’s 50 day moving average price is $225.37 and its 200-day moving average price is $221.88. Garmin Ltd. has a fifty-two week low of $169.26 and a fifty-two week high of $261.69. The company has a market cap of $47.11 billion, a price-to-earnings ratio of 28.46, a PEG ratio of 2.89 and a beta of 0.94.

Garmin (NYSE:GRMN) last posted its quarterly earnings data on Wednesday, February 18th. The scientific and technical instruments company reported $2.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.39 by $0.40. The company had revenue of $2.12 billion during 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%.Garmin’s revenue was up 16.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.41 EPS. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. Sell-side analysts predict that Garmin Ltd. will post 7.8 earnings per share for the current year.

Garmin Dividend Announcement

The business 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 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 payout ratio is currently 41.86%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on GRMN shares. Tigress Financial upped their price target on shares of Garmin from $310.00 to $320.00 and gave the company a “strong-buy” rating in a research note on Friday, February 20th. Barclays set a $240.00 price objective on shares of Garmin in a research note on Thursday, February 19th. JPMorgan Chase & Co. boosted their target price on shares of Garmin from $250.00 to $265.00 and gave the stock a “neutral” rating in a report on Thursday, February 19th. Longbow Research upgraded shares of 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. Finally, Zacks Research raised shares of Garmin from a “hold” rating to a “strong-buy” rating in a report on Monday, February 23rd. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $254.00.

Insider Transactions at Garmin

In related news, COO Patrick Desbois sold 6,694 shares of Garmin stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $251.65, for a total transaction of $1,684,545.10. Following the completion of the sale, the chief operating officer owned 58,540 shares in the company, valued at $14,731,591. This trade represents a 10.26% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Matthew Munn sold 5,275 shares of the business’s stock in a transaction dated Thursday, February 26th. The shares were 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 directly owned 9,876 shares of the company’s stock, valued at approximately $2,478,579.72. This trade represents a 34.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 44,403 shares of company stock valued at $10,987,074. Company insiders own 15.38% of the company’s stock.

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.