Garmin Ltd. $GRMN Shares Acquired by Swiss Life Asset Management Ltd

Key Points

• Swiss Life Asset Management Ltd increased its Garmin stake by 14.8% in the fourth quarter, owning 40,551 shares worth about $8.23 million after the purchase.
• Garmin executives were active sellers: CFO Douglas G. Boessen and CEO Clifton A. Pemble sold shares on Feb. 26, and insiders have sold 40,725 shares worth about $10.2 million over the last 90 days.
• Garmin reported strong quarterly results, with EPS of $2.08 beating expectations and revenue of $1.75 billion topping estimates, while also announcing a $1.05 quarterly dividend and maintaining a dividend yield of about 1.8%.

Swiss Life Asset Management Ltd lifted its stake in shares of Garmin Ltd. (NYSE:GRMN - Free Report) by 14.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 40,551 shares of the scientific and technical instruments company's stock after buying an additional 5,231 shares during the period. Swiss Life Asset Management Ltd's holdings in Garmin were worth $8,226,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GRMN. Richardson Financial Services Inc. lifted its position in Garmin by 62.2% during the third quarter. Richardson Financial Services Inc. now owns 133 shares of the scientific and technical instruments company's stock valued at $33,000 after purchasing an additional 51 shares during the period. Cornerstone Planning Group LLC lifted its position in Garmin by 788.9% during the third quarter. Cornerstone Planning Group LLC now owns 160 shares of the scientific and technical instruments company's stock valued at $39,000 after purchasing an additional 142 shares during the period. GraniteShares Advisors LLC acquired a new position in Garmin during the fourth quarter valued at $41,000. Torren Management LLC acquired a new position in Garmin during the fourth quarter valued at $41,000. Finally, Mascoma Wealth Management LLC acquired a new position in Garmin during the third quarter valued at $54,000. 81.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Garmin

In related news, CFO Douglas G. Boessen sold 3,487 shares of the company's stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $251.66, for a total transaction of $877,538.42. Following the completion of the sale, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Clifton A. Pemble sold 19,914 shares of the company's stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $251.58, for a total transaction of $5,009,964.12. Following the sale, the chief executive officer directly owned 124,075 shares of the company's stock, valued at approximately $31,214,788.50. This represents a 13.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 40,725 shares of company stock valued at $10,213,222. Corporate insiders own 19.54% of the company's stock.

Analyst Upgrades and Downgrades

GRMN has been the subject of a number of research reports. Barclays decreased their target price on shares of Garmin from $240.00 to $238.00 and set an "equal weight" rating for the company in a research report on Thursday, April 30th. Morgan Stanley set a $249.00 price objective on shares of Garmin in a research report on Thursday, April 30th. JPMorgan Chase & Co. upped their price objective 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. Tigress Financial upped 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. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Garmin in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Garmin presently has an average rating of "Moderate Buy" and a consensus price target of $268.40.

Garmin Stock Down 2.1%

GRMN stock opened at $237.19 on Wednesday. The stock has a market capitalization of $45.74 billion, a P/E ratio of 26.44, a P/E/G ratio of 2.85 and a beta of 0.94. The firm has a 50-day simple moving average of $246.12 and a 200-day simple moving average of $222.66. Garmin Ltd. has a 52 week low of $186.67 and a 52 week high of $273.32.

Garmin (NYSE:GRMN - Get Free Report) last released its earnings results on Wednesday, April 29th. The scientific and technical instruments company reported $2.08 EPS for the quarter, topping analysts' consensus estimates of $1.84 by $0.24. The business had revenue of $1.75 billion during the quarter, compared to analysts' expectations of $1.72 billion. Garmin had a net margin of 23.26% and a return on equity of 20.07%. The company's quarterly revenue was up 14.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.61 earnings per share. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. On average, analysts expect that Garmin Ltd. will post 9.57 earnings per share for the current year.

Garmin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 26th. Stockholders of record on Friday, March 12th will be paid a dividend of $1.05 per share. The ex-dividend date of this dividend is Friday, March 12th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 1.8%. Garmin's payout ratio is currently 40.13%.

Garmin Company 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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