Garmin Ltd. $GRMN Shares Purchased by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. raised its position in shares of Garmin Ltd. (NYSE:GRMN) by 271.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 66,359 shares of the scientific and technical instruments company’s stock after purchasing an additional 48,514 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Garmin were worth $13,461,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

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

Garmin Price Performance

Garmin stock opened at $236.12 on Friday. Garmin Ltd. has a one year low of $169.26 and a one year high of $261.69. The company’s fifty day moving average price is $225.84 and its two-hundred day moving average price is $221.98. The company has a market capitalization of $45.45 billion, a price-to-earnings ratio of 27.46, a PEG ratio of 2.93 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, topping 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%.The business’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.41 earnings per share. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. As a group, sell-side analysts anticipate that Garmin Ltd. will post 7.8 earnings per share for the current year.

Garmin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 26th. Shareholders of record on Friday, March 12th will be given a dividend of $1.05 per share. The ex-dividend date of this dividend is Friday, March 12th. This represents a $4.20 dividend on an annualized basis and a yield of 1.8%. Garmin’s dividend payout ratio is presently 41.86%.

Insider Activity at Garmin

In other Garmin news, CFO Douglas G. Boessen sold 3,487 shares of the stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $251.66, for a total transaction of $877,538.42. Following the transaction, the chief financial officer owned 28,049 shares in the company, valued at $7,058,811.34. This trade represents a 11.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at 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 transaction of $5,009,964.12. Following the completion of the transaction, the chief executive officer directly owned 124,075 shares in the company, valued at approximately $31,214,788.50. This represents a 13.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 44,403 shares of company stock valued at $10,987,074. 15.38% of the stock is owned by company insiders.

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.