Garmin Ltd. $GRMN Shares Acquired by VCI Wealth Management LLC

VCI Wealth Management LLC boosted its holdings in Garmin Ltd. (NYSE:GRMN) by 55.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,113 shares of the scientific and technical instruments company’s stock after purchasing an additional 3,604 shares during the quarter. VCI Wealth Management LLC’s holdings in Garmin were worth $2,051,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in shares of Garmin by 2.5% in the 3rd 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 buying an additional 499,235 shares during the last quarter. State Street Corp boosted its stake in Garmin by 1.8% in the third quarter. State Street Corp now owns 7,250,844 shares of the scientific and technical instruments company’s stock valued at $1,785,304,000 after acquiring an additional 126,677 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Garmin by 1.1% in the third quarter. Dimensional Fund Advisors LP now owns 1,494,519 shares of the scientific and technical instruments company’s stock valued at $367,964,000 after acquiring an additional 16,622 shares in the last quarter. Disciplined Growth Investors Inc. MN grew its holdings in shares of Garmin by 0.4% during the second quarter. Disciplined Growth Investors Inc. MN now owns 1,419,365 shares of the scientific and technical instruments company’s stock worth $296,250,000 after purchasing an additional 5,213 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in shares of Garmin by 15.7% during the third quarter. AQR Capital Management LLC now owns 1,348,955 shares of the scientific and technical instruments company’s stock worth $330,373,000 after purchasing an additional 182,548 shares in the last quarter. Institutional investors and hedge funds own 81.60% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on GRMN. Barclays set a $240.00 target price on Garmin in a research report on Thursday, February 19th. Weiss Ratings restated a “buy (b)” rating on shares of Garmin in a research report on Thursday, January 22nd. Zacks Research raised shares of Garmin from a “hold” rating to a “strong-buy” rating in a report on Monday, February 23rd. JPMorgan Chase & Co. upped their price target on shares of Garmin from $265.00 to $285.00 and gave the company a “neutral” rating in a research report on Thursday. Finally, Tigress Financial raised 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. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $258.00.

Garmin Trading Up 1.1%

Shares of GRMN traded up $2.97 during trading hours on Friday, reaching $267.33. The company had a trading volume of 956,051 shares, compared to its average volume of 725,152. Garmin Ltd. has a 12-month low of $178.74 and a 12-month high of $273.32. The firm has a 50 day simple moving average of $239.79 and a 200-day simple moving average of $223.01. The company has a market capitalization of $51.46 billion, a price-to-earnings ratio of 31.09, a PEG ratio of 3.17 and a beta of 0.96.

Garmin (NYSE:GRMN) last issued its earnings results on Wednesday, February 18th. The scientific and technical instruments company reported $2.79 earnings per share for the quarter, topping 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 analyst estimates of $2.01 billion. During the same period in the prior year, the business posted $2.41 earnings per share. The firm’s revenue for the quarter was up 16.6% compared to the same quarter last year. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. Sell-side analysts forecast 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. Stockholders of record on Friday, March 12th will be paid a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Friday, March 12th. Garmin’s payout ratio is 41.86%.

Insider Buying and Selling at Garmin

In related news, CFO Douglas G. Boessen sold 3,487 shares of Garmin stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $251.66, for a total transaction of $877,538.42. Following the completion of the transaction, the chief financial officer directly owned 28,049 shares in the company, valued at $7,058,811.34. The trade was a 11.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Patrick Desbois sold 6,694 shares of the stock in a transaction on 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 sale, the chief operating officer directly owned 58,540 shares in the company, valued at approximately $14,731,591. The trade was a 10.26% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 40,725 shares of company stock worth $10,213,222. 15.38% of the stock is currently owned by 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.