Garmin Ltd. (NYSE:GRMN) Declares Quarterly Dividend of $1.05

Garmin Ltd. (NYSE:GRMN) declared a quarterly dividend on Wednesday, February 18th. Stockholders of record on Monday, June 15th will be given a dividend of 1.05 per share by the scientific and technical instruments company on Friday, June 26th. This represents a c) dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Monday, June 15th. This is a 16.7% increase from Garmin’s previous quarterly dividend of $0.90.

Garmin has raised its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 8 consecutive years. Garmin has a dividend payout ratio of 42.8% meaning its dividend is sufficiently covered by earnings. Analysts expect Garmin to earn $7.98 per share next year, which means the company should continue to be able to cover its $3.60 annual dividend with an expected future payout ratio of 45.1%.

Garmin Trading Up 9.3%

Shares of Garmin stock traded up $20.25 during trading on Wednesday, hitting $237.23. 3,049,791 shares of the stock traded hands, compared to its average volume of 1,040,975. The stock’s fifty day simple moving average is $206.83 and its 200 day simple moving average is $220.21. The firm has a market cap of $45.63 billion, a P/E ratio of 29.22, a price-to-earnings-growth ratio of 2.27 and a beta of 1.00. Garmin has a 52-week low of $169.26 and a 52-week high of $261.69.

Garmin (NYSE:GRMN) last issued its earnings results on Wednesday, February 18th. The scientific and technical instruments company reported $2.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.39 by $0.40. The company had revenue of $2.12 billion for the quarter, compared to analysts’ expectations of $2.01 billion. Garmin had a net margin of 22.63% and a return on equity of 19.42%. The firm’s quarterly revenue was up 16.6% on a year-over-year basis. During the same period in the prior year, the business earned $2.41 EPS. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. As a group, equities analysts expect that Garmin will post 7.8 EPS for the current year.

Insiders Place Their Bets

In other news, COO Patrick Desbois sold 3,678 shares of the company’s stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $210.40, for a total transaction of $773,851.20. Following the transaction, the chief operating officer owned 61,798 shares in the company, valued at $13,002,299.20. This represents a 5.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Clifton A. Pemble sold 10,431 shares of the stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $206.23, for a total transaction of $2,151,185.13. Following the completion of the transaction, the chief executive officer directly owned 135,180 shares of the company’s stock, valued at $27,878,171.40. The trade was a 7.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 17,073 shares of company stock valued at $3,540,774. 15.38% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Garmin

Several institutional investors and hedge funds have recently made changes to their positions in GRMN. Andra AP fonden grew its stake in shares of Garmin by 87.2% in the second quarter. Andra AP fonden now owns 67,000 shares of the scientific and technical instruments company’s stock valued at $13,984,000 after buying an additional 31,200 shares in the last quarter. Penserra Capital Management LLC lifted its stake in Garmin by 43.4% during the 3rd quarter. Penserra Capital Management LLC now owns 22,496 shares of the scientific and technical instruments company’s stock worth $5,538,000 after acquiring an additional 6,806 shares in the last quarter. First Horizon Advisors Inc. boosted its holdings in Garmin by 4.2% during the 2nd quarter. First Horizon Advisors Inc. now owns 121,552 shares of the scientific and technical instruments company’s stock valued at $25,370,000 after acquiring an additional 4,943 shares during the period. EFG Asset Management Americas Corp. grew its position in Garmin by 34.1% in the 2nd quarter. EFG Asset Management Americas Corp. now owns 10,455 shares of the scientific and technical instruments company’s stock valued at $2,182,000 after acquiring an additional 2,659 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in Garmin by 25.9% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,584 shares of the scientific and technical instruments company’s stock worth $5,314,000 after purchasing an additional 4,437 shares during the period. 81.60% of the stock is currently owned by institutional investors and hedge funds.

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.