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

Swiss Life Asset Management Ltd increased its stake in shares of Garmin Ltd. (NYSE:GRMN) by 10.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 35,320 shares of the scientific and technical instruments company’s stock after buying an additional 3,230 shares during the quarter. Swiss Life Asset Management Ltd’s holdings in Garmin were worth $8,696,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in GRMN. Brighton Jones LLC lifted its position in Garmin by 31.3% during the 4th quarter. Brighton Jones LLC now owns 1,943 shares of the scientific and technical instruments company’s stock worth $401,000 after acquiring an additional 463 shares during the period. NewEdge Advisors LLC increased its holdings in shares of Garmin by 6.2% in the first quarter. NewEdge Advisors LLC now owns 5,885 shares of the scientific and technical instruments company’s stock valued at $1,278,000 after purchasing an additional 345 shares during the period. Woodline Partners LP increased its holdings in shares of Garmin by 40.6% in the first quarter. Woodline Partners LP now owns 13,017 shares of the scientific and technical instruments company’s stock valued at $2,826,000 after purchasing an additional 3,757 shares during the period. Focus Partners Wealth raised its stake in shares of Garmin by 51.1% during the first quarter. Focus Partners Wealth now owns 6,811 shares of the scientific and technical instruments company’s stock worth $1,479,000 after purchasing an additional 2,304 shares during the last quarter. Finally, Sivia Capital Partners LLC raised its stake in shares of Garmin by 17.0% during the second quarter. Sivia Capital Partners LLC now owns 1,662 shares of the scientific and technical instruments company’s stock worth $347,000 after purchasing an additional 242 shares during the last quarter. Institutional investors and hedge funds own 81.60% of the company’s stock.

Wall Street Analyst Weigh In

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

Garmin Price Performance

Garmin stock opened at $232.51 on Friday. Garmin Ltd. has a 1-year low of $169.26 and a 1-year high of $261.69. The company has a market cap of $44.75 billion, a PE ratio of 27.04, a price-to-earnings-growth ratio of 2.82 and a beta of 0.94. The stock’s 50 day moving average price is $223.62 and its 200 day moving average price is $221.88.

Garmin (NYSE:GRMN) last released its quarterly earnings data 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. Garmin had a return on equity of 19.64% and a net margin of 22.96%.The firm had revenue of $2.12 billion during the quarter, compared to analysts’ expectations of $2.01 billion. During the same quarter in the prior year, the business posted $2.41 earnings per share. Garmin’s revenue 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, equities research analysts anticipate that Garmin Ltd. will post 7.8 EPS for the current fiscal year.

Garmin Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 26th. Stockholders of record on Friday, March 12th will be issued a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Friday, March 12th. Garmin’s dividend payout ratio (DPR) is currently 41.86%.

Insider Transactions at Garmin

In related news, COO Patrick Desbois sold 6,694 shares of the firm’s stock in a transaction dated 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 sale, the chief operating officer owned 58,540 shares in the company, valued at $14,731,591. This trade represents a 10.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Susan Lyman sold 3,805 shares of the business’s stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $251.32, for a total transaction of $956,272.60. Following the sale, the vice president directly owned 7,471 shares in the company, valued at approximately $1,877,611.72. This represents a 33.74% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 44,403 shares of company stock valued at $10,987,074. 15.38% of the stock is owned by company insiders.

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.