Allspring Global Investments Holdings LLC Reduces Holdings in Garmin Ltd. $GRMN

Allspring Global Investments Holdings LLC lowered its position in Garmin Ltd. (NYSE:GRMN) by 3.6% during the 4th quarter, HoldingsChannel reports. The fund owned 78,224 shares of the scientific and technical instruments company’s stock after selling 2,902 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Garmin were worth $15,836,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in GRMN. Richardson Financial Services Inc. raised its position 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 purchasing an additional 51 shares during the period. Cornerstone Planning Group LLC grew its position 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 valued at $39,000 after acquiring an additional 142 shares during the last quarter. Tradewinds Capital Management LLC purchased a new stake in Garmin in the third quarter worth $44,000. Newbridge Financial Services Group Inc. increased its stake in Garmin by 96.9% in the second quarter. Newbridge Financial Services Group Inc. now owns 250 shares of the scientific and technical instruments company’s stock worth $52,000 after purchasing an additional 123 shares during the period. Finally, SJS Investment Consulting Inc. lifted its position in shares of 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 during the last quarter. 81.60% of the stock is owned by hedge funds and other institutional investors.

Garmin Price Performance

Shares of Garmin stock opened at $237.55 on Friday. The stock has a market cap of $45.72 billion, a price-to-earnings ratio of 27.62, a PEG ratio of 2.85 and a beta of 0.96. The firm’s 50-day moving average is $229.03 and its two-hundred day moving average is $221.68. Garmin Ltd. has a 1 year low of $169.26 and a 1 year high of $261.69.

Garmin (NYSE:GRMN) last posted its quarterly earnings results on Wednesday, February 18th. The scientific and technical instruments company reported $2.79 EPS 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 during the quarter, compared to analyst estimates of $2.01 billion. During the same quarter in the previous year, the business posted $2.41 EPS. The company’s quarterly revenue was up 16.6% compared to the same quarter last year. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. On average, equities analysts expect that Garmin Ltd. will post 7.8 earnings per share for the current year.

Garmin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 26th. Shareholders 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 yield of 1.8%. The ex-dividend date of this dividend is Friday, March 12th. Garmin’s dividend payout ratio (DPR) is 41.86%.

Insiders Place Their Bets

In related news, VP Susan Lyman sold 3,805 shares of the firm’s stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $251.32, for a total transaction of $956,272.60. Following the sale, the vice president owned 7,471 shares of the company’s stock, valued at $1,877,611.72. This trade represents a 33.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Clifton A. Pemble sold 19,914 shares of the stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $251.58, for a total transaction of $5,009,964.12. Following the sale, the chief executive officer directly owned 124,075 shares of the company’s stock, valued at approximately $31,214,788.50. The trade was a 13.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 44,403 shares of company stock worth $10,987,074. Insiders own 15.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on GRMN. Weiss Ratings restated a “buy (b)” rating on shares of Garmin in a report on Thursday, January 22nd. Zacks Research upgraded shares of Garmin from a “hold” rating to a “strong-buy” rating in a report on Monday, February 23rd. Tigress Financial boosted their price objective on shares of Garmin from $310.00 to $320.00 and gave the company a “strong-buy” rating in a research report on Friday, February 20th. JPMorgan Chase & Co. upped their target price on shares of Garmin from $250.00 to $265.00 and gave the stock a “neutral” rating in a research note on Thursday, February 19th. Finally, Barclays set a $240.00 price objective on Garmin in a research note on Thursday, February 19th. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Garmin has an average rating of “Moderate Buy” and an average price target of $254.00.

Garmin Company 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.