Siemens Fonds Invest GmbH Sells 4,114 Shares of Garmin Ltd. $GRMN

Siemens Fonds Invest GmbH lowered its holdings in shares of Garmin Ltd. (NYSE:GRMN) by 17.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,534 shares of the scientific and technical instruments company’s stock after selling 4,114 shares during the quarter. Siemens Fonds Invest GmbH’s holdings in Garmin were worth $4,006,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in GRMN. Atlas Capital Advisors Inc. bought a new position in Garmin in the 4th quarter worth approximately $34,000. GraniteShares Advisors LLC bought a new stake in shares of Garmin during the fourth quarter valued at approximately $41,000. Torren Management LLC purchased a new position in shares of Garmin in the fourth quarter worth $41,000. Itau Unibanco Holding S.A. boosted its position in shares of Garmin by 23.0% during the fourth quarter. Itau Unibanco Holding S.A. now owns 283 shares of the scientific and technical instruments company’s stock worth $57,000 after acquiring an additional 53 shares during the last quarter. Finally, Elyxium Wealth LLC bought a new position in shares of Garmin during the fourth quarter worth $60,000. 81.60% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Garmin

In related news, Director Joseph J. Hartnett sold 643 shares of the stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $263.57, for a total value of $169,475.51. Following the completion of the transaction, the director owned 21,277 shares of the company’s stock, valued at approximately $5,607,978.89. This trade represents a 2.93% 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 2,000 shares of Garmin stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $237.91, for a total value of $475,820.00. Following the completion of the transaction, the chief financial officer owned 26,049 shares of the company’s stock, valued at approximately $6,197,317.59. This represents a 7.13% decrease in their position. The disclosure for this sale is available in the SEC filing. 19.54% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

GRMN has been the topic of a number of research reports. JPMorgan Chase & Co. lifted their price target on shares of Garmin from $265.00 to $285.00 and gave the company a “neutral” rating in a report on Thursday, April 16th. Morgan Stanley set a $249.00 price objective on shares of Garmin in a report on Thursday, April 30th. Tigress Financial lifted their target price on Garmin from $320.00 to $325.00 and gave the stock a “strong-buy” rating in a report on Wednesday, May 20th. Weiss Ratings reiterated a “buy (b)” rating on shares of Garmin in a research report on Monday, June 8th. Finally, Wall Street Zen raised Garmin from a “hold” rating to a “buy” rating in a research note on Saturday, June 6th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $269.40.

Garmin Stock Down 1.1%

Garmin stock opened at $235.45 on Wednesday. The company has a market cap of $45.41 billion, a price-to-earnings ratio of 26.25, a PEG ratio of 2.81 and a beta of 0.91. The firm’s fifty day moving average is $245.00 and its 200 day moving average is $227.66. Garmin Ltd. has a 52-week low of $186.67 and a 52-week high of $273.32.

Garmin (NYSE:GRMN) last released its quarterly earnings data on Wednesday, April 29th. The scientific and technical instruments company reported $2.08 EPS for the quarter, beating the consensus estimate of $1.84 by $0.24. Garmin had a net margin of 23.26% and a return on equity of 20.07%. The business had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.72 billion. During the same quarter last year, the business earned $1.61 earnings per share. Garmin’s quarterly revenue was up 14.0% compared to the same quarter last year. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. On average, equities research analysts anticipate that Garmin Ltd. will post 9.53 earnings per share for the current fiscal year.

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.