Garmin Ltd. $GRMN Shares Bought by Siemens Fonds Invest GmbH

Siemens Fonds Invest GmbH boosted its position in Garmin Ltd. (NYSE:GRMN) by 21.4% in the 3rd quarter, Holdings Channel reports. The fund owned 23,648 shares of the scientific and technical instruments company’s stock after purchasing an additional 4,161 shares during the period. Siemens Fonds Invest GmbH’s holdings in Garmin were worth $5,823,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of GRMN. Brighton Jones LLC raised its position in shares of Garmin by 31.3% in the 4th quarter. Brighton Jones LLC now owns 1,943 shares of the scientific and technical instruments company’s stock worth $401,000 after buying an additional 463 shares during the period. NewEdge Advisors LLC grew its position in Garmin by 6.2% during the first quarter. NewEdge Advisors LLC now owns 5,885 shares of the scientific and technical instruments company’s stock valued at $1,278,000 after acquiring an additional 345 shares during the period. Woodline Partners LP increased its stake in Garmin by 40.6% during the first quarter. Woodline Partners LP now owns 13,017 shares of the scientific and technical instruments company’s stock worth $2,826,000 after acquiring an additional 3,757 shares during the last quarter. Focus Partners Wealth increased its stake in Garmin by 51.1% during the first quarter. Focus Partners Wealth now owns 6,811 shares of the scientific and technical instruments company’s stock worth $1,479,000 after acquiring an additional 2,304 shares during the last quarter. Finally, Sivia Capital Partners LLC raised its holdings in shares of Garmin by 17.0% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,662 shares of the scientific and technical instruments company’s stock worth $347,000 after purchasing an additional 242 shares during the period. 81.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on GRMN shares. Tigress Financial lifted their price target on shares of Garmin from $310.00 to $320.00 and gave the company a “strong-buy” rating in a research report on Friday, February 20th. 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 report on Thursday, February 19th. Zacks Research raised shares of Garmin from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 23rd. Barclays set a $240.00 target price on shares of Garmin in a report on Thursday, February 19th. Finally, Longbow Research upgraded 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. Two research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Garmin has an average rating of “Moderate Buy” and a consensus target price of $254.00.

Insider Activity at Garmin

In other news, CEO Clifton A. Pemble sold 19,914 shares of the stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $251.58, for a total value of $5,009,964.12. Following the completion of the transaction, the chief executive officer owned 124,075 shares of the company’s stock, valued at approximately $31,214,788.50. This represents a 13.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Susan Lyman sold 3,805 shares of the stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $251.32, for a total transaction of $956,272.60. Following the completion of the transaction, the vice president owned 7,471 shares of the company’s stock, valued at $1,877,611.72. This represents a 33.74% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 57,319 shares of company stock valued at $13,650,815. Company insiders own 15.38% of the company’s stock.

Garmin Trading Down 0.9%

Shares of NYSE:GRMN opened at $233.55 on Friday. The firm has a market cap of $44.95 billion, a PE ratio of 27.16, a price-to-earnings-growth ratio of 2.82 and a beta of 0.94. The company has a fifty day simple moving average of $221.24 and a 200 day simple moving average of $222.06. Garmin Ltd. has a 12-month low of $169.26 and a 12-month 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 earnings per share (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 firm had revenue of $2.12 billion for the quarter, compared to analysts’ expectations of $2.01 billion. During the same quarter in the prior year, the firm posted $2.41 earnings per share. Garmin’s revenue for the quarter was up 16.6% compared to the same quarter last year. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. As a group, equities research analysts forecast that Garmin Ltd. will post 7.8 EPS for the current fiscal year.

Garmin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 26th. Stockholders of record on Friday, March 12th will be issued a dividend of $1.05 per share. The ex-dividend date of this dividend is Friday, March 12th. This represents a $4.20 annualized dividend and a dividend yield of 1.8%. Garmin’s payout ratio is 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.