Royal Fund Management LLC Purchases 4,099 Shares of Garmin Ltd. $GRMN

Royal Fund Management LLC raised its position in shares of Garmin Ltd. (NYSE:GRMN) by 17.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,953 shares of the scientific and technical instruments company’s stock after acquiring an additional 4,099 shares during the period. Royal Fund Management LLC’s holdings in Garmin were worth $5,477,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Alliancebernstein L.P. increased its position in Garmin by 649.2% in the third quarter. Alliancebernstein L.P. now owns 1,256,668 shares of the scientific and technical instruments company’s stock worth $309,417,000 after purchasing an additional 1,088,938 shares during the last quarter. Amundi lifted its position in Garmin by 138.0% during the second quarter. Amundi now owns 1,158,702 shares of the scientific and technical instruments company’s stock valued at $247,255,000 after purchasing an additional 671,859 shares during the last quarter. Vanguard Group Inc. lifted its position in Garmin by 2.5% during the third quarter. Vanguard Group Inc. now owns 20,197,564 shares of the scientific and technical instruments company’s stock valued at $4,973,044,000 after purchasing an additional 499,235 shares during the last quarter. Lazard Asset Management LLC grew its stake in shares of Garmin by 530.5% in the 3rd quarter. Lazard Asset Management LLC now owns 351,690 shares of the scientific and technical instruments company’s stock worth $86,593,000 after buying an additional 295,914 shares in the last quarter. Finally, Man Group plc grew its stake in shares of Garmin by 302.5% in the 3rd quarter. Man Group plc now owns 244,679 shares of the scientific and technical instruments company’s stock worth $60,245,000 after buying an additional 183,889 shares in the last quarter. 81.60% of the stock is currently owned by institutional investors.

Insider Activity

In other Garmin news, COO Patrick Desbois sold 6,694 shares of the stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $251.65, for a total value of $1,684,545.10. Following 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Susan Lyman sold 3,805 shares of Garmin stock in a transaction on Thursday, February 26th. The stock was 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 of the company’s stock, valued at approximately $1,877,611.72. This trade represents a 33.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 44,403 shares of company stock worth $10,987,074 in the last three months. Corporate insiders own 19.54% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on GRMN. Zacks Research upgraded shares of Garmin from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 23rd. Barclays set a $240.00 price target on Garmin in a research report on Thursday, February 19th. JPMorgan Chase & Co. upped their price objective on Garmin from $250.00 to $265.00 and gave the company a “neutral” rating in a research report on Thursday, February 19th. Longbow Research raised Garmin from a “neutral” rating to a “buy” rating and set a $250.00 price objective for the company in a research note on Wednesday, December 3rd. Finally, Tigress Financial lifted 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. Two equities 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 assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $254.00.

Garmin Trading Down 1.8%

Shares of GRMN opened at $226.01 on Tuesday. The company’s fifty day simple moving average is $226.49 and its 200-day simple moving average is $221.59. The company has a market cap of $43.50 billion, a P/E ratio of 26.28, a P/E/G ratio of 2.76 and a beta of 0.94. Garmin Ltd. has a twelve month low of $169.26 and a twelve month high of $261.69.

Garmin (NYSE:GRMN) last issued its quarterly 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 net margin of 22.96% and a return on equity of 19.64%. The company had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $2.01 billion. During the same period in the prior year, the firm posted $2.41 EPS. The firm’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. Analysts predict that Garmin Ltd. will post 7.8 earnings per share for the current fiscal year.

Garmin Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 26th. Investors of record on Friday, March 12th will be paid a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, March 12th. Garmin’s dividend payout ratio (DPR) is currently 41.86%.

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.