Nordea Investment Management AB Purchases 10,020 Shares of Garmin Ltd. $GRMN

Nordea Investment Management AB boosted its position in shares of Garmin Ltd. (NYSE:GRMN) by 12.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 93,493 shares of the scientific and technical instruments company’s stock after acquiring an additional 10,020 shares during the quarter. Nordea Investment Management AB’s holdings in Garmin were worth $19,011,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Penserra Capital Management LLC grew its stake in shares of Garmin by 43.4% during the 3rd quarter. Penserra Capital Management LLC now owns 22,496 shares of the scientific and technical instruments company’s stock valued at $5,538,000 after purchasing an additional 6,806 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Garmin by 25.9% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,584 shares of the scientific and technical instruments company’s stock worth $5,314,000 after purchasing an additional 4,437 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Garmin by 4.7% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 429,030 shares of the scientific and technical instruments company’s stock worth $105,636,000 after purchasing an additional 19,360 shares during the period. Krilogy Financial LLC purchased a new position in shares of Garmin in the third quarter worth approximately $1,519,000. Finally, First Horizon Corp purchased a new position in shares of Garmin in the third quarter worth approximately $7,834,000. Institutional investors own 81.60% of the company’s stock.

Garmin Trading Up 1.0%

Garmin stock opened at $241.09 on Wednesday. Garmin Ltd. has a 12-month low of $169.26 and a 12-month high of $261.69. The firm has a market capitalization of $46.40 billion, a price-to-earnings ratio of 28.03, a P/E/G ratio of 2.86 and a beta of 0.94. The firm has a 50 day moving average of $224.70 and a 200 day moving average of $221.72.

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 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 net margin of 22.96% and a return on equity of 19.64%. The company’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.41 earnings per share. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. On average, analysts predict that Garmin Ltd. will post 7.8 EPS for the current year.

Garmin Dividend Announcement

The company also recently announced 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 is Friday, March 12th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 1.7%. Garmin’s payout ratio is 41.86%.

Insider Buying and Selling

In related news, CFO Douglas G. Boessen sold 3,487 shares of the company’s stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $251.66, for a total value of $877,538.42. Following the completion of the transaction, the chief financial officer owned 28,049 shares of the company’s stock, valued at approximately $7,058,811.34. This represents a 11.06% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Patrick Desbois sold 6,694 shares of the stock in a transaction on 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 completion of the sale, the chief operating officer owned 58,540 shares of the company’s stock, 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 have sold a total of 44,403 shares of company stock worth $10,987,074 in the last three months. Corporate insiders own 19.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on GRMN shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Garmin in a report on Thursday, January 22nd. JPMorgan Chase & Co. lifted their price target 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. Barclays set a $240.00 price objective on shares of Garmin in a research report on Thursday, February 19th. Tigress Financial upped their price objective on Garmin from $310.00 to $320.00 and gave the stock a “strong-buy” rating in a research note on Friday, February 20th. Finally, Zacks Research raised Garmin from a “hold” rating to a “strong-buy” rating in a report on Monday, February 23rd. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $254.00.

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.