Busey Bank Makes New Investment in Garmin Ltd. $GRMN

Key Points

• Busey Bank initiated a new position in Garmin, buying 9,844 shares valued at about $1.997 million during the fourth quarter.
• Company insiders have been net sellers — CEO Clifton Pemble sold 19,914 shares and EVP Matthew Munn sold 5,275 shares (insiders sold 40,725 shares worth roughly $10.21 million in the past 90 days); insiders now own 15.38% while institutions own 81.60%.
• Garmin beat expectations with Q EPS $2.79 vs. $2.39 and revenue of $2.12 billion (up 16.6% YoY), provided FY2026 EPS guidance of 9.35, and declared a quarterly dividend of $1.05 (yield ~1.6%, ex-dividend March 12).

Busey Bank bought a new position in Garmin Ltd. (NYSE:GRMN - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 9,844 shares of the scientific and technical instruments company's stock, valued at approximately $1,997,000.

Several other hedge funds also recently bought and sold shares of GRMN. Richardson Financial Services Inc. raised its holdings in Garmin by 62.2% in the third quarter. Richardson Financial Services Inc. now owns 133 shares of the scientific and technical instruments company's stock worth $33,000 after purchasing an additional 51 shares during the period. Cornerstone Planning Group LLC raised its holdings in Garmin by 788.9% in the third quarter. Cornerstone Planning Group LLC now owns 160 shares of the scientific and technical instruments company's stock worth $39,000 after purchasing an additional 142 shares during the period. GraniteShares Advisors LLC acquired a new stake in Garmin in the fourth quarter worth $41,000. Tradewinds Capital Management LLC acquired a new stake in Garmin in the third quarter worth $44,000. Finally, SJS Investment Consulting Inc. raised its holdings in Garmin by 1,530.8% in the third quarter. SJS Investment Consulting Inc. now owns 212 shares of the scientific and technical instruments company's stock worth $52,000 after purchasing an additional 199 shares during the period. 81.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Garmin

In other Garmin news, CEO Clifton A. Pemble sold 19,914 shares of Garmin stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $251.58, for a total value of $5,009,964.12. Following the sale, the chief executive officer directly owned 124,075 shares in the company, valued at approximately $31,214,788.50. The trade was a 13.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Matthew Munn sold 5,275 shares of Garmin stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $250.97, for a total transaction of $1,323,866.75. Following the completion of the sale, the executive vice president owned 9,876 shares in the company, valued at $2,478,579.72. The trade was a 34.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 40,725 shares of company stock worth $10,213,222. 15.38% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on GRMN. JPMorgan Chase & Co. increased their target price on shares of Garmin from $265.00 to $285.00 and gave the stock a "neutral" rating in a report on Thursday. Barclays set a $240.00 target price on shares of Garmin in a report on Thursday, February 19th. Tigress Financial increased their price objective on shares of Garmin from $310.00 to $320.00 and gave the stock a "strong-buy" rating in a research report on Friday, February 20th. Zacks Research raised shares of Garmin from a "hold" rating to a "strong-buy" rating in a research report on Monday, February 23rd. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Garmin in a research report on Thursday, January 22nd. Two analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Garmin has a consensus rating of "Moderate Buy" and an average target price of $258.00.

Garmin Trading Down 0.0%

Shares of GRMN stock opened at $267.33 on Monday. Garmin Ltd. has a 1 year low of $178.74 and a 1 year high of $273.32. The firm's fifty day moving average price is $239.79 and its two-hundred day moving average price is $222.78. The firm has a market capitalization of $51.46 billion, a P/E ratio of 31.09, a PEG ratio of 3.20 and a beta of 0.96.

Garmin (NYSE:GRMN - Get Free Report) last issued its quarterly earnings results 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 net margin of 22.96% and a return on equity of 19.64%. The firm had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.01 billion. During the same period in the previous year, the business earned $2.41 EPS. The company's revenue 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 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 26th. Shareholders of record on Friday, March 12th will be paid a $1.05 dividend. This represents a $4.20 annualized dividend and a yield of 1.6%. The ex-dividend date is Friday, March 12th. Garmin's payout ratio is presently 48.84%.

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.

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