Garmin Ltd. $GRMN Shares Bought by American Century Companies Inc.

American Century Companies Inc. grew its holdings in Garmin Ltd. (NYSE:GRMN) by 11.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 58,924 shares of the scientific and technical instruments company’s stock after purchasing an additional 5,998 shares during the period. American Century Companies Inc.’s holdings in Garmin were worth $14,509,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of GRMN. Vanguard Group Inc. raised its holdings in Garmin by 2.5% in 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 buying an additional 499,235 shares during the period. Artisan Partners Limited Partnership lifted its holdings in shares of Garmin by 6.4% in the 2nd 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. Geode Capital Management LLC lifted its holdings in shares of Garmin by 1.3% in the 2nd quarter. Geode Capital Management LLC now owns 4,606,511 shares of the scientific and technical instruments company’s stock worth $958,405,000 after acquiring an additional 59,321 shares during the last quarter. Norges Bank purchased a new position in shares of Garmin during the 2nd quarter worth approximately $410,304,000. Finally, Disciplined Growth Investors Inc. MN increased its holdings in Garmin by 0.4% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 1,419,365 shares of the scientific and technical instruments company’s stock valued at $296,250,000 after purchasing an additional 5,213 shares during the last quarter. 81.60% of the stock is currently owned by hedge funds and other institutional investors.

Garmin Stock Down 2.2%

Garmin stock opened at $236.02 on Thursday. Garmin Ltd. has a 52-week low of $169.26 and a 52-week high of $261.69. The firm has a market cap of $45.43 billion, a PE ratio of 27.44, a price-to-earnings-growth ratio of 2.89 and a beta of 0.94. The company’s 50 day moving average is $219.96 and its two-hundred day moving average is $221.96.

Garmin (NYSE:GRMN) last posted its quarterly earnings results on Wednesday, February 18th. The scientific and technical instruments company reported $2.79 EPS for the quarter, topping the consensus estimate of $2.39 by $0.40. The business had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $2.01 billion. Garmin had a net margin of 22.96% and a return on equity of 19.64%. The company’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.41 earnings per share. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. On average, equities research analysts anticipate that Garmin Ltd. will post 7.8 earnings per share for the current fiscal year.

Garmin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 26th. Shareholders of record on Friday, March 12th will be given a $1.05 dividend. The ex-dividend date of this dividend is Friday, March 12th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 1.8%. 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 firm’s stock in a transaction that occurred 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 sale, the executive vice president 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. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Susan Lyman sold 3,805 shares of the stock in a transaction on 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 in the company, valued at $1,877,611.72. This trade represents a 33.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 57,319 shares of company stock valued at $13,650,815 over the last ninety days. Company insiders own 15.38% of the company’s stock.

Analyst Ratings Changes

GRMN has been the topic of a number of research analyst reports. Barclays set a $240.00 target price on Garmin in a research report on Thursday, February 19th. Tigress Financial lifted their price objective on Garmin from $310.00 to $320.00 and gave the company a “strong-buy” rating in a research note on Friday, February 20th. Longbow Research upgraded Garmin from a “neutral” rating to a “buy” rating and set a $250.00 price objective on the stock in a report on Wednesday, December 3rd. Zacks Research raised Garmin from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 23rd. Finally, JPMorgan Chase & Co. raised their target price on Garmin from $250.00 to $265.00 and gave the company a “neutral” rating in a report on Thursday, February 19th. 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 given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $254.00.

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.