Garmin Ltd. $GRMN Position Increased by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments boosted its stake in Garmin by 28.3% in Q4 to 27,692 shares worth about $5.62 million, and institutional investors now own roughly 81.60% of the company.
• Garmin beat Q4 estimates with EPS of $2.79 (vs. $2.39 expected) and revenue of $2.12B (up 16.6% YoY), and set FY2026 guidance at EPS 9.35 compared with analysts' average forecast near 9.41.
• The company declared a quarterly dividend of $1.05 (annualized $4.20, ~1.6% yield), while insiders have sold about 40,725 shares worth roughly $10.2M in the past 90 days, which may be a note of caution for investors.

Mirae Asset Global Investments Co. Ltd. lifted its position in Garmin Ltd. (NYSE:GRMN - Free Report) by 28.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 27,692 shares of the scientific and technical instruments company's stock after acquiring an additional 6,108 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Garmin were worth $5,617,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Penserra Capital Management LLC lifted its position in shares of Garmin by 43.4% in 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 acquiring an additional 6,806 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position 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 valued at $105,636,000 after acquiring an additional 19,360 shares in the last quarter. Krilogy Financial LLC purchased a new stake in shares of Garmin in the 3rd quarter valued at approximately $1,519,000. ARK Investment Management LLC lifted its position in shares of Garmin by 10.9% in the 3rd quarter. ARK Investment Management LLC now owns 28,925 shares of the scientific and technical instruments company's stock valued at $7,122,000 after acquiring an additional 2,852 shares in the last quarter. Finally, First Horizon Corp purchased a new stake in shares of Garmin in the 3rd quarter valued at approximately $7,834,000. Hedge funds and other institutional investors own 81.60% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on GRMN. Tigress Financial increased their target price 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 upgraded shares of Garmin from a "hold" rating to a "strong-buy" rating in a research report on Monday, February 23rd. Barclays set a $240.00 target price on shares of Garmin in a research report on Thursday, February 19th. 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 research report on Thursday, April 16th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Garmin in a research report on Thursday, January 22nd. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Garmin presently has a consensus rating of "Moderate Buy" and an average target price of $258.00.

Garmin Stock Up 0.1%

GRMN stock opened at $267.58 on Tuesday. Garmin Ltd. has a 12-month low of $178.74 and a 12-month high of $273.32. The company has a market cap of $51.50 billion, a price-to-earnings ratio of 31.11, a PEG ratio of 3.20 and a beta of 0.96. The company has a 50 day moving average of $241.02 and a two-hundred day moving average of $222.85.

Garmin (NYSE:GRMN - Get Free Report) last released its quarterly earnings results on Wednesday, February 18th. The scientific and technical instruments company reported $2.79 earnings per share for the quarter, beating analysts' consensus estimates 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%. Garmin's revenue for the quarter was up 16.6% on a year-over-year basis. During the same quarter last year, the firm earned $2.41 EPS. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. On average, research analysts anticipate that Garmin Ltd. will post 9.41 EPS for the current year.

Garmin Dividend Announcement

The firm 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 is Friday, March 12th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 1.6%. Garmin's dividend payout ratio (DPR) is currently 41.86%.

Insider Buying and Selling at Garmin

In other news, EVP Matthew Munn sold 5,275 shares of the firm's 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 transaction, the executive vice president owned 9,876 shares in the company, valued at approximately $2,478,579.72. This trade represents a 34.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Douglas G. Boessen sold 3,487 shares of the firm's stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $251.66, for a total transaction of $877,538.42. Following the transaction, the chief financial officer owned 28,049 shares in the company, valued at $7,058,811.34. This represents a 11.06% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 40,725 shares of company stock worth $10,213,222 in the last ninety days. Company insiders own 19.54% of the company's stock.

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.

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