Swiss Life Asset Management Ltd Increases Position in Garmin Ltd. $GRMN

Swiss Life Asset Management Ltd raised its position in Garmin Ltd. (NYSE:GRMN) by 14.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 40,551 shares of the scientific and technical instruments company’s stock after acquiring an additional 5,231 shares during the period. Swiss Life Asset Management Ltd’s holdings in Garmin were worth $8,226,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted 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 purchasing an additional 499,235 shares during the last quarter. State Street Corp boosted its holdings in Garmin by 1.8% in the 3rd quarter. State Street Corp now owns 7,250,844 shares of the scientific and technical instruments company’s stock valued at $1,785,304,000 after purchasing an additional 126,677 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Garmin by 1.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,494,519 shares of the scientific and technical instruments company’s stock valued at $367,964,000 after purchasing an additional 16,622 shares during the last quarter. Disciplined Growth Investors Inc. MN boosted 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. Finally, AQR Capital Management LLC boosted its holdings in Garmin by 15.7% in the 3rd 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 purchasing an additional 182,548 shares during the last quarter. 81.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Garmin

In other Garmin news, CEO Clifton A. Pemble sold 19,914 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer directly owned 124,075 shares of the company’s stock, valued at approximately $31,214,788.50. This trade represents a 13.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Susan Lyman sold 3,805 shares of the firm’s stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $251.32, for a total transaction of $956,272.60. Following the transaction, the vice president directly owned 7,471 shares in the company, valued at $1,877,611.72. The trade was a 33.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 40,725 shares of company stock worth $10,213,222 in the last three months. Company insiders own 19.54% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. JPMorgan Chase & Co. boosted their target price on shares of Garmin from $265.00 to $285.00 and gave the company a “neutral” rating in a report on Thursday, April 16th. Barclays decreased their price objective on shares of Garmin from $240.00 to $238.00 and set an “equal weight” rating on the stock in a report on Thursday, April 30th. Zacks Research lowered shares of Garmin from a “strong-buy” rating to a “hold” rating in a report on Friday, May 1st. Tigress Financial upped their price objective on shares of Garmin from $310.00 to $320.00 and gave the stock 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 report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Garmin currently has a consensus rating of “Moderate Buy” and an average target price of $268.40.

Garmin Trading Down 2.1%

Shares of NYSE:GRMN opened at $237.19 on Wednesday. The company’s 50 day moving average is $246.12 and its two-hundred day moving average is $222.66. The company has a market cap of $45.74 billion, a PE ratio of 26.44, a P/E/G ratio of 2.85 and a beta of 0.94. Garmin Ltd. has a 52 week low of $186.67 and a 52 week high of $273.32.

Garmin (NYSE:GRMN) last posted its earnings results on Wednesday, April 29th. The scientific and technical instruments company reported $2.08 EPS for the quarter, beating analysts’ consensus estimates of $1.84 by $0.24. The firm had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.72 billion. Garmin had a net margin of 23.26% and a return on equity of 20.07%. The company’s revenue was up 14.0% on a year-over-year basis. During the same period last year, the firm posted $1.61 EPS. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. As a group, equities research analysts expect that Garmin Ltd. will post 9.57 EPS for the current year.

Garmin Announces Dividend

The firm 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 dividend of $1.05 per share. This represents a $4.20 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Friday, March 12th. Garmin’s dividend payout ratio (DPR) is presently 40.13%.

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.