Garmin Ltd. $GRMN Shares Bought by Generali Asset Management SPA SGR

Key Points

• Generali Asset Management sharply increased its Garmin stake by 8,727.4% in the fourth quarter, ending with 9,357 shares valued at about $1.9 million.
• Garmin reported better-than-expected quarterly results, with EPS of $2.08 versus the $1.84 estimate and revenue of $1.75 billion, up 14% year over year.
• The company also announced a quarterly dividend of $1.05 per share and highlighted guidance for fiscal 2026, while insider selling and mixed analyst ratings kept sentiment somewhat cautious.

Generali Asset Management SPA SGR lifted its position in Garmin Ltd. (NYSE:GRMN - Free Report) by 8,727.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,357 shares of the scientific and technical instruments company's stock after acquiring an additional 9,251 shares during the quarter. Generali Asset Management SPA SGR's holdings in Garmin were worth $1,898,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Daymark Wealth Partners LLC grew its position in shares of Garmin by 0.7% in the 4th quarter. Daymark Wealth Partners LLC now owns 6,813 shares of the scientific and technical instruments company's stock worth $1,382,000 after acquiring an additional 48 shares in the last quarter. SYM FINANCIAL Corp grew its position in shares of Garmin by 4.0% in the 3rd quarter. SYM FINANCIAL Corp now owns 1,294 shares of the scientific and technical instruments company's stock worth $319,000 after acquiring an additional 50 shares in the last quarter. S.A. Mason LLC grew its position in shares of Garmin by 2.4% in the 4th quarter. S.A. Mason LLC now owns 2,150 shares of the scientific and technical instruments company's stock worth $436,000 after acquiring an additional 50 shares in the last quarter. Richardson Financial Services Inc. grew its position in shares of Garmin by 62.2% in the 3rd quarter. Richardson Financial Services Inc. now owns 133 shares of the scientific and technical instruments company's stock worth $33,000 after acquiring an additional 51 shares in the last quarter. Finally, Quadrant Capital Group LLC grew its position in shares of Garmin by 1.0% in the 3rd quarter. Quadrant Capital Group LLC now owns 4,917 shares of the scientific and technical instruments company's stock worth $1,211,000 after acquiring an additional 51 shares in the last quarter. Institutional investors and hedge funds own 81.60% of the company's stock.

Insider Transactions at Garmin

In related news, CEO Clifton A. Pemble sold 19,914 shares of the firm's stock in a transaction that occurred on Thursday, February 26th. The stock was 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 $31,214,788.50. This trade represents a 13.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Susan Lyman sold 3,805 shares of the firm's stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $251.32, for a total value of $956,272.60. Following the completion of the sale, the vice president owned 7,471 shares in the company, valued at approximately $1,877,611.72. This represents a 33.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 40,725 shares of company stock worth $10,213,222 over the last quarter. Insiders own 15.38% of the company's stock.

Garmin Stock Down 0.7%

GRMN stock opened at $240.11 on Friday. Garmin Ltd. has a fifty-two week low of $186.67 and a fifty-two week high of $273.32. The firm's 50-day simple moving average is $246.88 and its 200 day simple moving average is $222.86. The stock has a market cap of $46.31 billion, a PE ratio of 26.77, a price-to-earnings-growth ratio of 2.83 and a beta of 0.94.

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

Garmin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 26th. Investors of record on Friday, March 12th will be given a $1.05 dividend. This represents a $4.20 annualized dividend and a yield of 1.7%. The ex-dividend date is Friday, March 12th. Garmin's dividend payout ratio (DPR) is currently 40.13%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on GRMN. Zacks Research lowered Garmin from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 1st. Tigress Financial lifted their target price on Garmin from $310.00 to $320.00 and gave the stock a "strong-buy" rating in a research report on Friday, February 20th. Morgan Stanley set a $249.00 price target on Garmin in a report on Thursday, April 30th. JPMorgan Chase & Co. raised their price target on Garmin from $265.00 to $285.00 and gave the stock a "neutral" rating in a report on Thursday, April 16th. Finally, Barclays cut their price target on Garmin from $240.00 to $238.00 and set an "equal weight" rating on the stock in a report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $268.40.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.