SG Americas Securities LLC Raises Stock Holdings in Garmin Ltd. $GRMN

SG Americas Securities LLC grew its stake in shares of Garmin Ltd. (NYSE:GRMN) by 800.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 172,928 shares of the scientific and technical instruments company’s stock after buying an additional 153,734 shares during the period. SG Americas Securities LLC owned 0.09% of Garmin worth $35,078,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in GRMN. Vanguard Group Inc. increased 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 worth $4,973,044,000 after acquiring an additional 499,235 shares in the last quarter. State Street Corp raised its stake in Garmin by 1.8% during the 3rd quarter. State Street Corp now owns 7,250,844 shares of the scientific and technical instruments company’s stock worth $1,785,304,000 after acquiring an additional 126,677 shares during the period. Norges Bank purchased a new position in Garmin during the second quarter valued at approximately $410,304,000. Dimensional Fund Advisors LP lifted its holdings in Garmin by 1.1% during the third 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 in the last quarter. Finally, Disciplined Growth Investors Inc. MN boosted its position in shares of Garmin by 0.4% in the second quarter. Disciplined Growth Investors Inc. MN now owns 1,419,365 shares of the scientific and technical instruments company’s stock worth $296,250,000 after purchasing an additional 5,213 shares during the period. 81.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on GRMN. 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. 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 upped their target price 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. Longbow Research upgraded Garmin from a “neutral” rating to a “buy” rating and set a $250.00 price target for the company in a research note on Wednesday, December 3rd. Finally, Barclays set a $240.00 price target on Garmin in a report on Thursday, February 19th. 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 given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $254.00.

Insider Buying and Selling at Garmin

In other Garmin news, VP Susan Lyman sold 3,805 shares of Garmin stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $251.32, for a total value of $956,272.60. Following the sale, the vice president owned 7,471 shares of the company’s stock, valued at $1,877,611.72. The trade was a 33.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Matthew Munn sold 5,275 shares of the company’s stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $250.97, for a total value of $1,323,866.75. Following the sale, the executive vice president directly owned 9,876 shares in the company, valued at $2,478,579.72. This trade represents a 34.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 44,403 shares of company stock worth $10,987,074 over the last three months. 15.38% of the stock is owned by company insiders.

Garmin Price Performance

Shares of GRMN opened at $244.76 on Thursday. The firm has a market cap of $47.11 billion, a P/E ratio of 28.46, a price-to-earnings-growth ratio of 2.89 and a beta of 0.94. Garmin Ltd. has a 1 year low of $169.26 and a 1 year high of $261.69. The company has a 50 day simple moving average of $225.37 and a two-hundred day simple moving average of $221.88.

Garmin (NYSE:GRMN) last issued its earnings results on Wednesday, February 18th. The scientific and technical instruments company reported $2.79 earnings per share 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 analyst estimates of $2.01 billion. Garmin had a net margin of 22.96% and a return on equity of 19.64%. Garmin’s revenue for the quarter was up 16.6% on a year-over-year basis. 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. On average, sell-side analysts anticipate that Garmin Ltd. will post 7.8 earnings per share for the current year.

Garmin Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 26th. Investors of record on Friday, March 12th will be paid a dividend of $1.05 per share. The ex-dividend date of this dividend is Friday, March 12th. This represents a $4.20 dividend on an annualized basis and a yield of 1.7%. Garmin’s dividend payout ratio is presently 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.