Mirae Asset Global Investments Co. Ltd. Acquires 6,108 Shares of Garmin Ltd. $GRMN

Mirae Asset Global Investments Co. Ltd. boosted its position in Garmin Ltd. (NYSE:GRMN) by 28.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 27,692 shares of the scientific and technical instruments company’s stock after buying an additional 6,108 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Garmin were worth $5,617,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of GRMN. Brighton Jones LLC grew its stake in Garmin by 31.3% in the 4th quarter. Brighton Jones LLC now owns 1,943 shares of the scientific and technical instruments company’s stock valued at $401,000 after buying an additional 463 shares during the last quarter. NewEdge Advisors LLC grew its stake in Garmin by 6.2% in the 1st quarter. NewEdge Advisors LLC now owns 5,885 shares of the scientific and technical instruments company’s stock valued at $1,278,000 after buying an additional 345 shares during the last quarter. Woodline Partners LP grew its stake in Garmin by 40.6% in the 1st quarter. Woodline Partners LP now owns 13,017 shares of the scientific and technical instruments company’s stock valued at $2,826,000 after buying an additional 3,757 shares during the last quarter. Focus Partners Wealth grew its stake in Garmin by 51.1% in the 1st quarter. Focus Partners Wealth now owns 6,811 shares of the scientific and technical instruments company’s stock valued at $1,479,000 after buying an additional 2,304 shares during the last quarter. Finally, Sivia Capital Partners LLC grew its stake in Garmin by 17.0% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,662 shares of the scientific and technical instruments company’s stock valued at $347,000 after buying an additional 242 shares during the last quarter. 81.60% of the stock is currently owned by institutional investors and hedge funds.

Garmin Stock Performance

Shares of Garmin stock opened at $267.58 on Tuesday. The firm’s 50-day simple moving average is $241.02 and its 200-day simple moving average is $222.85. Garmin Ltd. has a twelve month low of $178.74 and a twelve month high of $273.32. The firm has a market cap of $51.50 billion, a P/E ratio of 31.11, a price-to-earnings-growth ratio of 3.20 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, 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 business had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.01 billion. During the same period in the previous year, the business earned $2.41 EPS. The firm’s revenue was up 16.6% on a year-over-year basis. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. On average, equities analysts forecast that Garmin Ltd. will post 9.41 earnings per share for the current fiscal year.

Garmin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 26th. Stockholders 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 1.6%. The ex-dividend date is Friday, March 12th. Garmin’s payout ratio is 41.86%.

Insider Buying and Selling at Garmin

In other news, CFO Douglas G. Boessen sold 3,487 shares of Garmin stock in a transaction dated 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 in the company, valued at approximately $7,058,811.34. The trade was a 11.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Patrick Desbois sold 6,694 shares of Garmin stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $251.65, for a total transaction of $1,684,545.10. Following the sale, the chief operating officer owned 58,540 shares in the company, valued at approximately $14,731,591. This trade represents a 10.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 40,725 shares of company stock worth $10,213,222 in the last 90 days. 19.54% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Garmin in a research note on Thursday, January 22nd. Barclays set a $240.00 target price on shares of Garmin in a research note on Thursday, February 19th. Zacks Research upgraded shares of Garmin from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 23rd. JPMorgan Chase & Co. raised their target price on shares of Garmin from $265.00 to $285.00 and gave the company a “neutral” rating in a research note on Thursday, April 16th. Finally, Tigress Financial raised their target price on shares of Garmin from $310.00 to $320.00 and gave the company a “strong-buy” rating in a research note on Friday, February 20th. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Garmin has a consensus rating of “Moderate Buy” and an average price target of $258.00.

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.