Royal Fund Management LLC Raises Stock Position in Garmin Ltd. $GRMN

Royal Fund Management LLC grew its stake in shares of Garmin Ltd. (NYSE:GRMN) by 17.9% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 26,953 shares of the scientific and technical instruments company’s stock after acquiring an additional 4,099 shares during the period. Royal Fund Management LLC’s holdings in Garmin were worth $5,477,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of GRMN. Mather Group LLC. increased its holdings in Garmin by 1.2% during the 3rd quarter. Mather Group LLC. now owns 3,749 shares of the scientific and technical instruments company’s stock worth $923,000 after purchasing an additional 44 shares during the period. Smith Moore & CO. lifted its holdings in shares of Garmin by 4.3% in the 2nd quarter. Smith Moore & CO. now owns 1,151 shares of the scientific and technical instruments company’s stock worth $240,000 after buying an additional 47 shares during the period. BSW Wealth Partners lifted its holdings in shares of Garmin by 2.9% in the 3rd quarter. BSW Wealth Partners now owns 1,724 shares of the scientific and technical instruments company’s stock worth $425,000 after buying an additional 48 shares during the period. Daymark Wealth Partners LLC grew its position in shares of Garmin by 0.7% during the 4th quarter. Daymark Wealth Partners LLC now owns 6,813 shares of the scientific and technical instruments company’s stock worth $1,382,000 after buying an additional 48 shares in the last quarter. Finally, SYM FINANCIAL Corp grew its position in shares of Garmin by 4.0% during the 3rd quarter. SYM FINANCIAL Corp now owns 1,294 shares of the scientific and technical instruments company’s stock worth $319,000 after buying an additional 50 shares in the last quarter. Hedge funds and other institutional investors own 81.60% of the company’s stock.

Wall Street Analysts Forecast Growth

GRMN has been the topic of several research reports. Weiss Ratings restated a “buy (b)” rating on shares of Garmin in a report on Thursday, January 22nd. JPMorgan Chase & Co. increased their target price on shares of Garmin from $250.00 to $265.00 and gave the stock a “neutral” rating in a report on Thursday, February 19th. Barclays set a $240.00 target price on shares of Garmin in a research report on Thursday, February 19th. Longbow Research upgraded shares of 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 upped their price target on shares of Garmin from $310.00 to $320.00 and gave the stock a “strong-buy” rating in a research report on Friday, February 20th. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Garmin has a consensus rating of “Moderate Buy” and a consensus price target of $254.00.

Insider Buying and Selling

In other Garmin news, CFO Douglas G. Boessen sold 3,487 shares of the firm’s stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $251.66, for a total value of $877,538.42. Following the completion of the sale, the chief financial officer owned 28,049 shares of the company’s stock, valued at approximately $7,058,811.34. This trade represents a 11.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Patrick Desbois sold 6,694 shares of the business’s stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $251.65, for a total value of $1,684,545.10. Following the sale, the chief operating officer owned 58,540 shares in the company, valued at $14,731,591. The trade was a 10.26% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 44,403 shares of company stock valued at $10,987,074 in the last 90 days. 19.54% of the stock is owned by insiders.

Garmin Stock Down 1.8%

Shares of GRMN opened at $226.01 on Tuesday. The company has a 50 day moving average of $226.49 and a two-hundred day moving average of $221.59. Garmin Ltd. has a twelve month low of $169.26 and a twelve month high of $261.69. The company has a market cap of $43.50 billion, a price-to-earnings ratio of 26.28, a price-to-earnings-growth ratio of 2.76 and a beta of 0.94.

Garmin (NYSE:GRMN) last issued its quarterly earnings results on Wednesday, February 18th. The scientific and technical instruments company reported $2.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.39 by $0.40. The business had revenue of $2.12 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the prior year, the firm posted $2.41 earnings per share. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. On average, sell-side analysts expect that Garmin Ltd. will post 7.8 EPS for the current year.

Garmin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 26th. Investors 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 1.9%. The ex-dividend date of this dividend is Friday, March 12th. Garmin’s dividend payout ratio is currently 41.86%.

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.