Legal & General Group Plc Raises Stock Position in Garmin Ltd. $GRMN

Legal & General Group Plc lifted its holdings in shares of Garmin Ltd. (NYSE:GRMN) by 4.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,180,254 shares of the scientific and technical instruments company’s stock after acquiring an additional 53,880 shares during the quarter. Legal & General Group Plc’s holdings in Garmin were worth $290,602,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Swiss National Bank lifted its stake in shares of Garmin by 1.3% during the third quarter. Swiss National Bank now owns 471,800 shares of the scientific and technical instruments company’s stock worth $116,167,000 after purchasing an additional 5,900 shares in the last quarter. Russell Investments Group Ltd. grew its stake in shares of Garmin by 19.5% in the third quarter. Russell Investments Group Ltd. now owns 305,655 shares of the scientific and technical instruments company’s stock valued at $75,246,000 after buying an additional 49,826 shares in the last quarter. Inceptionr LLC acquired a new stake in shares of Garmin in the third quarter valued at about $351,000. Meiji Yasuda Life Insurance Co raised its holdings in shares of Garmin by 110.4% during the 3rd quarter. Meiji Yasuda Life Insurance Co now owns 2,782 shares of the scientific and technical instruments company’s stock valued at $685,000 after buying an additional 1,460 shares during the period. Finally, Meiji Yasuda Asset Management Co Ltd. raised its holdings in shares of Garmin by 8.0% during the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 3,925 shares of the scientific and technical instruments company’s stock valued at $966,000 after buying an additional 291 shares during the period. 81.60% of the stock is currently owned by institutional investors and hedge funds.

Garmin Stock Down 2.2%

GRMN stock opened at $236.02 on Thursday. Garmin Ltd. has a 52-week low of $169.26 and a 52-week high of $261.69. The stock’s 50 day moving average is $219.96 and its two-hundred day moving average is $221.96. The company has a market capitalization of $45.43 billion, a PE ratio of 27.44, a P/E/G ratio of 2.89 and a beta of 0.94.

Garmin (NYSE:GRMN) last released its earnings results 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. Garmin had a return on equity of 19.64% and a net margin of 22.96%.The company had revenue of $2.12 billion during the quarter, compared to analysts’ expectations of $2.01 billion. During the same period in the prior year, the business posted $2.41 EPS. The business’s revenue was up 16.6% on a year-over-year basis. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. As a group, sell-side analysts anticipate that Garmin Ltd. will post 7.8 EPS for the current year.

Garmin Dividend Announcement

The business also recently declared 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. The ex-dividend date of this dividend is Friday, March 12th. This represents a $4.20 annualized dividend and a yield of 1.8%. Garmin’s dividend payout ratio is currently 41.86%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on GRMN. Barclays set a $240.00 price target on Garmin in a report 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. Weiss Ratings reissued a “buy (b)” rating on shares of Garmin in a research report on Thursday, January 22nd. Longbow Research upgraded shares of Garmin from a “neutral” rating to a “buy” rating and set a $250.00 target price for the company in a research note on Wednesday, December 3rd. Finally, Tigress Financial raised their price target on shares of Garmin from $310.00 to $320.00 and gave the company a “strong-buy” rating in a 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 assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $254.00.

Insider Activity

In other news, VP Susan Lyman sold 3,805 shares of the company’s stock in a transaction dated Thursday, February 26th. The shares were 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 in the company, valued at approximately $1,877,611.72. This represents a 33.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Clifton A. Pemble sold 19,914 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief executive officer owned 124,075 shares in the company, valued at approximately $31,214,788.50. This trade represents a 13.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 57,319 shares of company stock worth $13,650,815 over the last ninety days. Insiders own 15.38% of the company’s stock.

Garmin Company 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.