KBC Group NV Has $113.86 Million Holdings in Garmin Ltd. $GRMN

Key Points

• KBC Group NV boosted its Garmin stake 113.6% in Q4, acquiring an additional 298,462 shares to hold 561,291 shares worth $113.86 million (about 0.29% of the company).
• Garmin beat quarterly estimates, reporting EPS of $2.79 versus $2.39 expected and revenue of $2.12 billion (+16.6% YoY), and set FY2026 EPS guidance at 9.350.
• Insiders sold stock while shareholder returns continued: insiders sold 40,725 shares (~$10.2M) over the quarter, and the company declared a $1.05 quarterly dividend ($4.20 annual, ~1.6% yield).

KBC Group NV boosted its holdings in Garmin Ltd. (NYSE:GRMN - Free Report) by 113.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 561,291 shares of the scientific and technical instruments company's stock after acquiring an additional 298,462 shares during the quarter. KBC Group NV owned 0.29% of Garmin worth $113,859,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Mather Group LLC. raised its stake in shares of Garmin by 1.2% in the third quarter. Mather Group LLC. now owns 3,749 shares of the scientific and technical instruments company's stock worth $923,000 after purchasing an additional 44 shares during the last quarter. BSW Wealth Partners boosted its position in shares of Garmin by 2.9% during the third quarter. BSW Wealth Partners now owns 1,724 shares of the scientific and technical instruments company's stock valued at $425,000 after buying an additional 48 shares during the last quarter. Daymark Wealth Partners LLC grew its holdings in Garmin by 0.7% during the fourth quarter. Daymark Wealth Partners LLC now owns 6,813 shares of the scientific and technical instruments company's stock worth $1,382,000 after buying an additional 48 shares in the last quarter. SYM FINANCIAL Corp grew its holdings in Garmin by 4.0% during the third quarter. SYM FINANCIAL Corp now owns 1,294 shares of the scientific and technical instruments company's stock worth $319,000 after buying an additional 50 shares in the last quarter. Finally, Alpine Woods Capital Investors LLC raised its position in Garmin by 0.6% in the 3rd quarter. Alpine Woods Capital Investors LLC now owns 9,314 shares of the scientific and technical instruments company's stock valued at $2,293,000 after buying an additional 51 shares during the last quarter. Institutional investors and hedge funds own 81.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on GRMN shares. Zacks Research raised shares of Garmin from a "hold" rating to a "strong-buy" rating in a report on Monday, February 23rd. Barclays set a $240.00 target price on shares of Garmin in a report on Thursday, February 19th. Weiss Ratings reissued a "buy (b)" rating on shares of Garmin in a research report on Thursday, January 22nd. JPMorgan Chase & Co. boosted their price target on shares of Garmin from $250.00 to $265.00 and gave the stock a "neutral" rating in a report on Thursday, February 19th. Finally, 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. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $254.00.

Garmin Trading Up 0.5%

GRMN stock opened at $265.74 on Thursday. The stock has a market cap of $51.15 billion, a P/E ratio of 30.90, a P/E/G ratio of 3.17 and a beta of 0.96. The stock's fifty day simple moving average is $237.18 and its two-hundred day simple moving average is $222.73. Garmin Ltd. has a 1-year low of $178.74 and a 1-year high of $266.47.

Garmin (NYSE:GRMN - Get Free Report) last announced its 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. The firm had revenue of $2.12 billion during the quarter, compared to analyst estimates of $2.01 billion. Garmin had a return on equity of 19.64% and a net margin of 22.96%.The business's revenue was up 16.6% compared to the same quarter last year. During the same period last year, the firm posted $2.41 EPS. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. As a group, analysts forecast that Garmin Ltd. will post 7.8 earnings per share for the current fiscal year.

Garmin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 26th. Shareholders of record on Friday, March 12th will be given a $1.05 dividend. The ex-dividend date of this dividend is Friday, March 12th. This represents a $4.20 annualized dividend and a yield of 1.6%. Garmin's payout ratio is currently 41.86%.

Insider Transactions at Garmin

In related news, CFO Douglas G. Boessen sold 3,487 shares of Garmin stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $251.66, for a total value of $877,538.42. Following the sale, the chief financial officer owned 28,049 shares of the company's stock, valued at approximately $7,058,811.34. The trade was a 11.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Patrick Desbois sold 6,694 shares of the company's stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $251.65, for a total value of $1,684,545.10. Following the completion of the transaction, the chief operating officer owned 58,540 shares in the company, valued at approximately $14,731,591. The trade was a 10.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 40,725 shares of company stock valued at $10,213,222. Corporate insiders own 15.38% 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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