Securian Asset Management Inc. Reduces Stock Holdings in Garmin Ltd. $GRMN

Securian Asset Management Inc. reduced its holdings in shares of Garmin Ltd. (NYSE:GRMN) by 44.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,392 shares of the scientific and technical instruments company’s stock after selling 3,454 shares during the period. Securian Asset Management Inc.’s holdings in Garmin were worth $891,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Richardson Financial Services Inc. raised its position in shares of Garmin by 62.2% in the 3rd quarter. Richardson Financial Services Inc. now owns 133 shares of the scientific and technical instruments company’s stock valued at $33,000 after purchasing an additional 51 shares during the last quarter. Cornerstone Planning Group LLC grew its position in Garmin by 788.9% during 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 during the last quarter. Torren Management LLC acquired a new position in Garmin during the 4th quarter valued at approximately $41,000. GraniteShares Advisors LLC acquired a new position in Garmin during the 4th quarter valued at approximately $41,000. Finally, Mascoma Wealth Management LLC purchased a new position in shares of Garmin in the third quarter worth $54,000. 81.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on GRMN shares. Morgan Stanley set a $249.00 price objective on shares of Garmin in a report on Thursday, April 30th. Tigress Financial raised their target price on Garmin from $310.00 to $320.00 and gave the stock a “strong-buy” rating in a research note on Friday, February 20th. Barclays lowered their price target on Garmin from $240.00 to $238.00 and set an “equal weight” rating for the company in a research report on Thursday, April 30th. Zacks Research downgraded Garmin from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. Finally, JPMorgan Chase & Co. increased their price objective on Garmin from $265.00 to $285.00 and gave the company a “neutral” rating in a report on Thursday, April 16th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Garmin has an average rating of “Moderate Buy” and an average target price of $268.40.

Garmin Price Performance

GRMN stock opened at $232.29 on Thursday. The company has a market capitalization of $44.80 billion, a P/E ratio of 25.90, a price-to-earnings-growth ratio of 2.79 and a beta of 0.94. Garmin Ltd. has a 12 month low of $186.67 and a 12 month high of $273.32. The firm’s fifty day simple moving average is $245.66 and its 200-day simple moving average is $222.53.

Garmin (NYSE:GRMN) last issued its earnings results on Wednesday, April 29th. The scientific and technical instruments company reported $2.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.24. The firm had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.72 billion. Garmin had a net margin of 23.26% and a return on equity of 20.07%. The firm’s revenue was up 14.0% compared to the same quarter last year. During the same quarter last year, the company posted $1.61 earnings per share. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. As a group, sell-side analysts forecast that Garmin Ltd. will post 9.57 earnings per share for the current year.

Garmin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 26th. Shareholders of record on Friday, March 12th will be paid a dividend of $1.05 per share. The ex-dividend date is Friday, March 12th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 1.8%. Garmin’s dividend payout ratio (DPR) is presently 46.82%.

Insiders Place Their Bets

In other news, VP Susan Lyman sold 3,805 shares of the company’s stock in a transaction dated 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 in the company, valued at $1,877,611.72. This represents a 33.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Matthew Munn sold 5,275 shares of the firm’s stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $250.97, for a total value of $1,323,866.75. Following the sale, the executive vice president directly owned 9,876 shares in the company, valued at approximately $2,478,579.72. This trade represents a 34.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 40,725 shares of company stock worth $10,213,222. 15.38% of the stock is currently owned by company 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.