Garmin Ltd. $GRMN Stock Holdings Boosted by Citigroup Inc.

Citigroup Inc. increased its position in Garmin Ltd. (NYSE:GRMN) by 26.5% during the third quarter, Holdings Channel reports. The fund owned 256,112 shares of the scientific and technical instruments company’s stock after purchasing an additional 53,665 shares during the quarter. Citigroup Inc.’s holdings in Garmin were worth $63,060,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GRMN. Quaker Wealth Management LLC increased its stake in shares of Garmin by 200.0% in the second quarter. Quaker Wealth Management LLC now owns 132 shares of the scientific and technical instruments company’s stock valued at $28,000 after purchasing an additional 264 shares during the period. Richardson Financial Services Inc. grew its holdings in 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 worth $33,000 after buying an additional 51 shares in the last quarter. Cornerstone Planning Group LLC grew its holdings in Garmin by 788.9% in the 3rd quarter. Cornerstone Planning Group LLC now owns 160 shares of the scientific and technical instruments company’s stock worth $39,000 after buying an additional 142 shares in the last quarter. Tradewinds Capital Management LLC acquired a new stake in Garmin in the 3rd quarter valued at approximately $44,000. Finally, Newbridge Financial Services Group Inc. raised its stake in Garmin by 96.9% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 250 shares of the scientific and technical instruments company’s stock valued at $52,000 after acquiring an additional 123 shares in the last quarter. 81.60% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Clifton A. Pemble sold 10,431 shares of the stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $206.23, for a total transaction of $2,151,185.13. Following the completion of the sale, the chief executive officer owned 135,180 shares in the company, valued at approximately $27,878,171.40. This represents a 7.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Douglas G. Boessen sold 2,485 shares of Garmin stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $206.26, for a total value of $512,556.10. Following the completion of the transaction, the chief financial officer owned 28,916 shares in the company, valued at $5,964,214.16. The trade was a 7.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 18,144 shares of company stock worth $3,798,628 over the last three months. Corporate insiders own 19.54% of the company’s stock.

Analysts Set New Price Targets

GRMN has been the subject of several recent analyst reports. Longbow Research raised Garmin from a “neutral” rating to a “buy” rating and set a $250.00 price target for the company in a research note on Wednesday, December 3rd. Weiss Ratings reiterated a “buy (b)” rating on shares of Garmin in a research report on Thursday, January 22nd. Barclays set a $240.00 price target on shares of Garmin in a research report on Thursday. Morgan Stanley upped their price target on shares of Garmin from $193.00 to $195.00 and gave the stock an “underweight” rating in a research note on Thursday, October 30th. Finally, Tigress Financial raised their price objective on shares of Garmin from $310.00 to $320.00 and gave the company a “strong-buy” rating in a research note on Friday. One analyst has 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 company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $254.00.

Garmin Trading Down 1.0%

Shares of Garmin stock opened at $246.50 on Tuesday. Garmin Ltd. has a 52 week low of $169.26 and a 52 week high of $261.69. The stock has a market cap of $47.45 billion, a PE ratio of 28.66, a price-to-earnings-growth ratio of 2.44 and a beta of 1.00. The company’s 50-day moving average price is $209.53 and its two-hundred day moving average price is $220.63.

Garmin (NYSE:GRMN) last posted its quarterly earnings data 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 company had revenue of $2.12 billion during the quarter, compared to analyst estimates of $2.01 billion. During the same quarter last year, the firm posted $2.41 EPS. The business’s revenue for the quarter 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 predict that Garmin Ltd. will post 7.8 EPS for the current fiscal year.

Garmin Announces Dividend

The firm 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 $1.05 dividend. The ex-dividend date is Friday, March 12th. This represents a $4.20 annualized dividend and a yield of 1.7%. Garmin’s payout ratio is 41.86%.

About Garmin

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.