Lansforsakringar Fondforvaltning AB publ Purchases 3,576 Shares of Garmin Ltd. $GRMN

Lansforsakringar Fondforvaltning AB publ lifted its position in shares of Garmin Ltd. (NYSE:GRMN) by 7.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 49,625 shares of the scientific and technical instruments company’s stock after buying an additional 3,576 shares during the period. Lansforsakringar Fondforvaltning AB publ’s holdings in Garmin were worth $12,219,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in GRMN. Quaker Wealth Management LLC lifted its stake in Garmin by 200.0% in the second quarter. Quaker Wealth Management LLC now owns 132 shares of the scientific and technical instruments company’s stock worth $28,000 after purchasing an additional 264 shares during the last quarter. Richardson Financial Services Inc. increased its stake in Garmin by 62.2% in the 3rd quarter. Richardson Financial Services Inc. now owns 133 shares of the scientific and technical instruments company’s stock worth $33,000 after purchasing an additional 51 shares during the period. Cornerstone Planning Group LLC increased its stake in Garmin by 788.9% in the 3rd quarter. Cornerstone Planning Group LLC now owns 160 shares of the scientific and technical instruments company’s stock worth $39,000 after purchasing an additional 142 shares during the period. Tradewinds Capital Management LLC bought a new position in shares of Garmin in the third quarter worth approximately $44,000. Finally, Newbridge Financial Services Group Inc. increased its stake in shares of Garmin by 96.9% in the second quarter. Newbridge Financial Services Group Inc. now owns 250 shares of the scientific and technical instruments company’s stock worth $52,000 after buying an additional 123 shares during the period. 81.60% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Garmin

In other Garmin news, CEO Clifton A. Pemble sold 10,431 shares of the stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $206.23, for a total value of $2,151,185.13. Following the sale, the chief executive officer owned 135,180 shares in the company, valued at $27,878,171.40. This trade represents a 7.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Patrick Desbois sold 3,678 shares of the business’s stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $210.40, for a total value of $773,851.20. Following the completion of the sale, the chief operating officer owned 61,798 shares of the company’s stock, valued at $13,002,299.20. The trade was a 5.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 18,144 shares of company stock worth $3,798,628 in the last 90 days. 15.38% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Weiss Ratings restated a “buy (b)” rating on shares of Garmin in a report on Thursday, January 22nd. 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 report on Friday. Barclays set a $240.00 target price on shares of Garmin in a research report on Thursday. Longbow Research upgraded shares of 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. Finally, Morgan Stanley lifted their price objective on Garmin from $193.00 to $195.00 and gave the company an “underweight” rating in a research note on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $254.00.

Garmin Stock Down 1.0%

Shares of GRMN opened at $246.50 on Tuesday. The business has a 50-day simple moving average of $209.53 and a two-hundred day simple moving average of $220.63. The stock has a market cap of $47.45 billion, a price-to-earnings ratio of 28.66, a PEG ratio of 2.44 and a beta of 1.00. Garmin Ltd. has a 52 week low of $169.26 and a 52 week high of $261.69.

Garmin (NYSE:GRMN) last announced 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. 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 revenue was up 16.6% on a year-over-year basis. During the same period in the previous year, the business earned $2.41 earnings per share. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. On average, equities analysts anticipate that Garmin Ltd. will post 7.8 earnings per share for the current fiscal year.

Garmin Dividend Announcement

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. The ex-dividend date is Friday, March 12th. This represents a $4.20 annualized dividend and a yield of 1.7%. Garmin’s dividend payout ratio (DPR) is 41.86%.

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.