Allspring Global Investments Holdings LLC Sells 2,902 Shares of Garmin Ltd. $GRMN

Allspring Global Investments Holdings LLC trimmed its stake in shares of Garmin Ltd. (NYSE:GRMN) by 3.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 78,224 shares of the scientific and technical instruments company’s stock after selling 2,902 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Garmin were worth $15,836,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Alliancebernstein L.P. increased its position in Garmin by 649.2% during the third quarter. Alliancebernstein L.P. now owns 1,256,668 shares of the scientific and technical instruments company’s stock valued at $309,417,000 after acquiring an additional 1,088,938 shares during the last quarter. Amundi boosted 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 purchasing an additional 671,859 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Garmin by 2.5% during the 3rd quarter. Vanguard Group Inc. now owns 20,197,564 shares of the scientific and technical instruments company’s stock valued at $4,973,044,000 after purchasing an additional 499,235 shares during the period. Lazard Asset Management LLC boosted its holdings in shares of Garmin by 530.5% in the third quarter. Lazard Asset Management LLC now owns 351,690 shares of the scientific and technical instruments company’s stock worth $86,593,000 after buying an additional 295,914 shares during the last quarter. Finally, Man Group plc grew its position in Garmin by 302.5% during the third quarter. Man Group plc now owns 244,679 shares of the scientific and technical instruments company’s stock valued at $60,245,000 after buying an additional 183,889 shares during the period. 81.60% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on GRMN shares. JPMorgan Chase & Co. raised their price objective on Garmin from $250.00 to $265.00 and gave the stock a “neutral” rating in a research note on Thursday, February 19th. Barclays set a $240.00 target price on shares of Garmin in a report on Thursday, February 19th. Zacks Research upgraded shares of Garmin from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 23rd. Tigress Financial lifted their price target on shares of Garmin from $310.00 to $320.00 and gave the company a “strong-buy” rating in a report on Friday, February 20th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Garmin in a research report on Thursday, January 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Garmin has an average rating of “Moderate Buy” and an average target price of $254.00.

Garmin Stock Performance

GRMN stock opened at $237.55 on Friday. The company has a market capitalization of $45.72 billion, a PE ratio of 27.62, a price-to-earnings-growth ratio of 2.85 and a beta of 0.96. 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 $229.03 and its 200-day moving average price is $221.68.

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 net margin of 22.96% and a return on equity of 19.64%. The business had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $2.01 billion. During the same quarter in the prior year, the firm earned $2.41 EPS. The business’s revenue 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 predict that Garmin Ltd. will post 7.8 EPS for the current fiscal year.

Garmin Announces Dividend

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 given a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Friday, March 12th. Garmin’s dividend payout ratio is currently 41.86%.

Insider Transactions at Garmin

In other Garmin news, EVP Matthew Munn sold 5,275 shares of the stock in a transaction on 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 transaction, the executive vice president owned 9,876 shares in the company, valued at $2,478,579.72. This trade represents a 34.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Susan Lyman sold 3,805 shares of the stock in a transaction dated 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 directly owned 7,471 shares of the company’s stock, valued at approximately $1,877,611.72. The trade was a 33.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 44,403 shares of company stock valued at $10,987,074 in the last 90 days. Company insiders own 15.38% of the company’s stock.

Garmin Company 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.