6,118 Shares in Garmin Ltd. $GRMN Acquired by Lecap Asset Management Ltd.

Lecap Asset Management Ltd. purchased a new position in Garmin Ltd. (NYSE:GRMN) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 6,118 shares of the scientific and technical instruments company’s stock, valued at approximately $1,241,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Richardson Financial Services Inc. raised its holdings in Garmin by 62.2% during the third quarter. Richardson Financial Services Inc. now owns 133 shares of the scientific and technical instruments company’s stock worth $33,000 after purchasing an additional 51 shares in the last quarter. Cornerstone Planning Group LLC raised its holdings in Garmin by 788.9% during the third 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 in the last quarter. Tradewinds Capital Management LLC acquired a new stake in Garmin during the third quarter worth approximately $44,000. GraniteShares Advisors LLC acquired a new stake in Garmin during the fourth quarter worth approximately $41,000. Finally, SJS Investment Consulting Inc. raised its holdings in Garmin by 1,530.8% during the third quarter. SJS Investment Consulting Inc. now owns 212 shares of the scientific and technical instruments company’s stock worth $52,000 after purchasing an additional 199 shares in the last quarter. Institutional investors and hedge funds own 81.60% of the company’s stock.

Garmin Price Performance

Shares of Garmin stock opened at $267.33 on Friday. The firm’s fifty day simple moving average is $239.79 and its 200-day simple moving average is $223.01. The stock 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 Ltd. has a 12 month low of $178.74 and a 12 month high of $273.32.

Garmin (NYSE:GRMN) last announced its earnings results on Wednesday, February 18th. The scientific and technical instruments company reported $2.79 EPS for the quarter, beating analysts’ consensus estimates of $2.39 by $0.40. The business had revenue of $2.12 billion for the quarter, compared to analysts’ expectations of $2.01 billion. Garmin had a net margin of 22.96% and a return on equity of 19.64%. The company’s quarterly revenue was up 16.6% on a year-over-year basis. During the same period in the previous year, the company posted $2.41 EPS. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. Analysts anticipate that Garmin Ltd. will post 7.8 earnings per share for the current year.

Garmin Announces Dividend

The company 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 $1.05 dividend. This represents a $4.20 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Friday, March 12th. Garmin’s payout ratio is currently 41.86%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on GRMN shares. Zacks Research raised shares of Garmin from a “hold” rating to a “strong-buy” rating in a report on Monday, February 23rd. Barclays set a $240.00 price objective on shares of Garmin in a report on Thursday, February 19th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Garmin in a report on Thursday, January 22nd. JPMorgan Chase & Co. lifted their target price on shares of Garmin from $265.00 to $285.00 and gave the company a “neutral” rating in a report on Thursday. Finally, Tigress Financial lifted their target price on shares of Garmin from $310.00 to $320.00 and gave the company a “strong-buy” rating in a report on Friday, February 20th. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Garmin currently has an average rating of “Moderate Buy” and an average price target of $258.00.

Insider Buying and Selling

In other Garmin news, COO Patrick Desbois sold 6,694 shares of the business’s 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 transaction, the chief operating officer directly owned 58,540 shares of the company’s stock, valued at approximately $14,731,591. The trade was a 10.26% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Susan Lyman sold 3,805 shares of the business’s stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $251.32, for a total transaction of $956,272.60. Following the completion of the transaction, the vice president directly 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 SEC filing for this sale provides additional information. Insiders sold a total of 40,725 shares of company stock worth $10,213,222 in the last ninety days. Insiders own 15.38% of the company’s stock.

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.