SG Americas Securities LLC Buys 153,734 Shares of Garmin Ltd. $GRMN

SG Americas Securities LLC increased its stake in Garmin Ltd. (NYSE:GRMN) by 800.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 172,928 shares of the scientific and technical instruments company’s stock after acquiring an additional 153,734 shares during the quarter. SG Americas Securities LLC’s holdings in Garmin were worth $35,078,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Penserra Capital Management LLC raised its stake in shares of Garmin by 43.4% during the third quarter. Penserra Capital Management LLC now owns 22,496 shares of the scientific and technical instruments company’s stock valued at $5,538,000 after acquiring an additional 6,806 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Garmin by 25.9% in 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 in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in Garmin by 4.7% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 429,030 shares of the scientific and technical instruments company’s stock worth $105,636,000 after purchasing an additional 19,360 shares in the last quarter. Krilogy Financial LLC purchased a new position in Garmin during the 3rd quarter worth $1,519,000. Finally, First Horizon Corp purchased a new position in Garmin during the 3rd quarter worth $7,834,000. Institutional investors own 81.60% of the company’s stock.

Analyst Upgrades and Downgrades

GRMN has been the subject of a number of research analyst reports. Barclays set a $240.00 target price on Garmin in a research report on Thursday, February 19th. JPMorgan Chase & Co. raised their price target on Garmin from $250.00 to $265.00 and gave the company a “neutral” rating in a research note on Thursday, February 19th. Zacks Research upgraded Garmin from a “hold” rating to a “strong-buy” rating in a report on Monday, February 23rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Garmin in a research note on Thursday, January 22nd. Finally, Tigress Financial increased their target price on shares of 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 assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $254.00.

Garmin Stock Up 1.5%

Garmin stock opened at $244.76 on Thursday. Garmin Ltd. has a twelve month low of $169.26 and a twelve month high of $261.69. The business has a fifty day moving average of $225.37 and a two-hundred day moving average of $221.88. The firm has a market cap of $47.11 billion, a P/E ratio of 28.46, a P/E/G ratio of 2.89 and a beta of 0.94.

Garmin (NYSE:GRMN) last issued its quarterly earnings data on Wednesday, February 18th. The scientific and technical instruments company reported $2.79 earnings per share for the quarter, topping analysts’ consensus estimates 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 period in the prior year, the business posted $2.41 EPS. The firm’s quarterly revenue was up 16.6% on a year-over-year basis. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. Equities analysts expect that Garmin Ltd. will post 7.8 earnings per share for the current year.

Garmin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 26th. Shareholders of record on Friday, March 12th will be given a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, March 12th. Garmin’s dividend payout ratio is presently 41.86%.

Insider Buying and Selling at Garmin

In related news, CEO Clifton A. Pemble sold 19,914 shares of the business’s stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $251.58, for a total transaction of $5,009,964.12. Following the completion of the transaction, the chief executive officer owned 124,075 shares in the company, valued at $31,214,788.50. The trade was a 13.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Douglas G. Boessen sold 3,487 shares of the stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $251.66, for a total transaction of $877,538.42. Following the sale, the chief financial officer directly owned 28,049 shares of the company’s stock, valued at $7,058,811.34. The trade was a 11.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 44,403 shares of company stock valued at $10,987,074. 15.38% of the stock is currently owned by corporate insiders.

Garmin 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.