Zurcher Kantonalbank Zurich Cantonalbank Acquires 31,161 Shares of Garmin Ltd. $GRMN

Key Points

• Zurcher Kantonalbank boosted its stake in Garmin by 32.1%, buying 31,161 shares to hold 128,166 shares worth about $25.998 million, representing roughly 0.07% of the company.
• Garmin beat quarterly expectations with $2.79 EPS (vs. $2.39 est.) and $2.12B revenue (up 16.6%), set FY2026 guidance at about 9.35 EPS, and carries a consensus analyst price target of $258 with an average rating of "Moderate Buy."
• Company insiders sold a total of 40,725 shares worth roughly $10.21 million over the last quarter, leaving insiders with about 19.54% ownership.

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Garmin Ltd. (NYSE:GRMN - Free Report) by 32.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 128,166 shares of the scientific and technical instruments company's stock after buying an additional 31,161 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned 0.07% of Garmin worth $25,998,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of GRMN. Richardson Financial Services Inc. lifted its position in shares of Garmin by 62.2% during the 3rd quarter. Richardson Financial Services Inc. now owns 133 shares of the scientific and technical instruments company's stock worth $33,000 after buying an additional 51 shares during the last quarter. Cornerstone Planning Group LLC increased its holdings in Garmin by 788.9% in the 3rd 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 in the last quarter. GraniteShares Advisors LLC acquired a new position in Garmin in the 4th quarter worth about $41,000. Tradewinds Capital Management LLC acquired a new position in Garmin in the 3rd quarter worth about $44,000. Finally, SJS Investment Consulting Inc. increased its holdings in Garmin by 1,530.8% in the 3rd 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 in the last quarter. 81.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

GRMN has been the subject of a number of recent research reports. Tigress Financial upped their target price on Garmin from $310.00 to $320.00 and gave the stock a "strong-buy" rating in a report on Friday, February 20th. Barclays set a $240.00 target price on Garmin in a report on Thursday, February 19th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Garmin in a report on Thursday, January 22nd. JPMorgan Chase & Co. upped their target price on Garmin from $265.00 to $285.00 and gave the stock a "neutral" rating in a report on Thursday, April 16th. Finally, Zacks Research raised Garmin from a "hold" rating to a "strong-buy" rating in a report on Monday, February 23rd. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $258.00.

Garmin Price Performance

Shares of Garmin stock opened at $265.65 on Wednesday. Garmin Ltd. has a one year low of $178.74 and a one year high of $273.32. The stock's 50-day moving average is $242.16 and its 200 day moving average is $222.92. The firm has a market cap of $51.13 billion, a price-to-earnings ratio of 30.89, a PEG ratio of 3.20 and a beta of 0.96.

Garmin (NYSE:GRMN - Get Free Report) last announced its earnings results on Wednesday, February 18th. The scientific and technical instruments company reported $2.79 EPS for the quarter, beating the consensus estimate of $2.39 by $0.40. Garmin had a return on equity of 19.64% and a net margin of 22.96%.The company had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.01 billion. During the same quarter in the prior year, the company earned $2.41 EPS. The firm's revenue for the quarter was up 16.6% compared to the same quarter last year. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. On average, sell-side analysts expect that Garmin Ltd. will post 9.41 EPS for the current fiscal year.

Garmin Dividend Announcement

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 dividend of $1.05 per share. The ex-dividend date is Friday, March 12th. This represents a $4.20 annualized dividend and a dividend yield of 1.6%. Garmin's dividend payout ratio is presently 41.86%.

Insider Activity at Garmin

In related news, EVP Matthew Munn sold 5,275 shares of the company's stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $250.97, for a total transaction of $1,323,866.75. Following the sale, the executive vice president owned 9,876 shares in the company, valued at $2,478,579.72. This represents a 34.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Susan Lyman sold 3,805 shares of the company's stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $251.32, for a total value of $956,272.60. Following the sale, the vice president owned 7,471 shares in the company, valued at approximately $1,877,611.72. The trade was a 33.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 40,725 shares of company stock worth $10,213,222 over the last quarter. 19.54% of the stock is owned by company insiders.

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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