Aberdeen Group plc Has $19.95 Million Holdings in Garmin Ltd. $GRMN

Aberdeen Group plc cut its holdings in Garmin Ltd. (NYSE:GRMN) by 6.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 98,328 shares of the scientific and technical instruments company’s stock after selling 7,118 shares during the period. Aberdeen Group plc owned approximately 0.05% of Garmin worth $19,946,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of GRMN. Alliancebernstein L.P. grew its stake in shares of Garmin by 649.2% in 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 in the last quarter. Vanguard Group Inc. grew its stake in shares of Garmin by 2.5% in the third 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 acquiring an additional 499,235 shares in the last quarter. Lazard Asset Management LLC grew its stake 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 valued at $86,593,000 after acquiring an additional 295,914 shares in the last quarter. Man Group plc grew its stake in shares of Garmin by 302.5% in 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 acquiring an additional 183,889 shares in the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of Garmin by 15.7% in the third quarter. AQR Capital Management LLC now owns 1,348,955 shares of the scientific and technical instruments company’s stock valued at $330,373,000 after acquiring an additional 182,548 shares in the last quarter. 81.60% of the stock is currently owned by institutional investors and hedge funds.

Garmin Trading Up 2.2%

GRMN stock opened at $242.90 on Tuesday. The stock has a market capitalization of $46.75 billion, a P/E ratio of 28.24, a price-to-earnings-growth ratio of 2.85 and a beta of 0.96. Garmin Ltd. has a 12 month low of $169.26 and a 12 month high of $261.69. The firm has a 50-day moving average price of $229.75 and a 200-day moving average price of $221.63.

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

Garmin Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 26th. Investors of record on Friday, March 12th will be issued a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Friday, March 12th. Garmin’s dividend payout ratio (DPR) is 41.86%.

Insiders Place Their Bets

In related 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 value 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Susan Lyman sold 3,805 shares of the firm’s stock in a transaction that occurred 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 owned 7,471 shares of the company’s stock, valued at approximately $1,877,611.72. This trade represents a 33.74% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 44,403 shares of company stock worth $10,987,074 over the last quarter. 15.38% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

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

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.