Garmin Ltd. $GRMN Shares Bought by Aberdeen Group plc

Key Points

• Aberdeen Group plc increased its stake in Garmin Ltd. by 62.8%, acquiring an additional 38,772 shares, bringing its total ownership to 100,520 shares valued at approximately $21.7 million.
• Garmin recently declared a quarterly dividend of $0.90, with a yield of 1.6%, to be paid to stockholders on September 26th.
• The stock's latest performance shows a decline of 1.5%, trading at $229.99, while the company reported earnings of $2.17 per share, beating consensus estimates by $0.27.

Aberdeen Group plc grew its position in Garmin Ltd. (NYSE:GRMN - Free Report) by 62.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 100,520 shares of the scientific and technical instruments company's stock after purchasing an additional 38,772 shares during the period. Aberdeen Group plc owned approximately 0.05% of Garmin worth $21,724,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of GRMN. Vanguard Group Inc. boosted its holdings in Garmin by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 18,425,166 shares of the scientific and technical instruments company's stock valued at $4,000,656,000 after purchasing an additional 357,458 shares during the last quarter. Invesco Ltd. boosted its position in shares of Garmin by 9.0% in the 1st quarter. Invesco Ltd. now owns 1,862,153 shares of the scientific and technical instruments company's stock worth $404,329,000 after buying an additional 153,267 shares in the last quarter. Northern Trust Corp boosted its position in Garmin by 20.2% during the fourth quarter. Northern Trust Corp now owns 1,708,495 shares of the scientific and technical instruments company's stock worth $352,394,000 after acquiring an additional 286,765 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Garmin by 15.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 999,096 shares of the scientific and technical instruments company's stock valued at $206,074,000 after acquiring an additional 135,135 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Garmin by 0.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 892,606 shares of the scientific and technical instruments company's stock worth $193,812,000 after purchasing an additional 2,768 shares in the last quarter. Hedge funds and other institutional investors own 81.60% of the company's stock.

Insiders Place Their Bets

In other Garmin news, CEO Clifton A. Pemble sold 7,899 shares of the firm's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $203.25, for a total transaction of $1,605,471.75. Following the transaction, the chief executive officer owned 141,626 shares of the company's stock, valued at approximately $28,785,484.50. This trade represents a 5.28% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Douglas G. Boessen sold 1,859 shares of the business's stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $215.00, for a total transaction of $399,685.00. Following the sale, the chief financial officer owned 29,146 shares in the company, valued at $6,266,390. This trade represents a 6.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. 15.38% of the stock is currently owned by company insiders.

Garmin Price Performance

Shares of GRMN stock traded up $6.2310 during trading hours on Friday, reaching $235.8210. The stock had a trading volume of 235,899 shares, compared to its average volume of 931,172. The firm has a market capitalization of $45.39 billion, a PE ratio of 29.08, a price-to-earnings-growth ratio of 2.53 and a beta of 0.99. The firm has a 50-day simple moving average of $219.91 and a 200-day simple moving average of $210.53. Garmin Ltd. has a twelve month low of $160.94 and a twelve month high of $246.50.

Garmin (NYSE:GRMN - Get Free Report) last posted its earnings results on Wednesday, July 30th. The scientific and technical instruments company reported $2.17 EPS for the quarter, topping the consensus estimate of $1.90 by $0.27. The firm had revenue of $1.81 billion during the quarter, compared to analysts' expectations of $1.68 billion. Garmin had a net margin of 23.21% and a return on equity of 20.00%. Garmin's quarterly revenue was up 20.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.58 EPS. Garmin has set its FY 2025 guidance at 8.000-8.000 EPS. On average, equities analysts anticipate that Garmin Ltd. will post 7.8 earnings per share for the current year.

Garmin Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 12th will be paid a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 1.5%. Garmin's payout ratio is 44.39%.

Analyst Upgrades and Downgrades

GRMN has been the topic of a number of research analyst reports. JPMorgan Chase & Co. increased their price objective on shares of Garmin from $215.00 to $250.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th. Morgan Stanley lifted their price target on Garmin from $172.00 to $186.00 and gave the stock an "underweight" rating in a research note on Thursday, July 31st. Finally, Barclays restated an "underweight" rating and set a $167.00 price objective (up previously from $152.00) on shares of Garmin in a research note on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $222.00.

Garmin Profile

Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of wireless devices worldwide. Its Fitness segment offers running and multi-sport watches; cycling products; smartwatch devices; scales and monitors; and fitness accessories. This segment also provides Garmin Connect and Garmin Connect Mobile, which are web and mobile platforms where users can track and analyze their fitness, activities and workouts, and wellness data; and Connect IQ, an application development platform.