Element Capital Management LLC Makes New $1.90 Million Investment in Garmin Ltd. $GRMN

Element Capital Management LLC purchased a new position in Garmin Ltd. (NYSE:GRMN) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 9,373 shares of the scientific and technical instruments company’s stock, valued at approximately $1,901,000. Garmin comprises 0.9% of Element Capital Management LLC’s investment portfolio, making the stock its 27th biggest position.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Atlas Capital Advisors Inc. purchased a new position in Garmin in the 4th quarter worth about $34,000. Torren Management LLC purchased a new stake in shares of Garmin during the 4th quarter valued at about $41,000. GraniteShares Advisors LLC purchased a new stake in shares of Garmin during the 4th quarter valued at about $41,000. DV Equities LLC bought a new stake in shares of Garmin in the fourth quarter worth approximately $46,000. Finally, Itau Unibanco Holding S.A. grew its stake in shares of Garmin by 23.0% in 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 period. 81.60% of the stock is owned by institutional investors.

Analysts Set New Price Targets

GRMN has been the topic of a number of research analyst reports. Tigress Financial increased their price objective on shares of Garmin from $320.00 to $325.00 and gave the company a “strong-buy” rating in a research report on Wednesday, May 20th. Morgan Stanley set a $249.00 price target on Garmin in a report on Thursday, April 30th. Wall Street Zen upgraded Garmin from a “hold” rating to a “buy” rating in a research note on Saturday, June 6th. Zacks Research lowered Garmin from a “strong-buy” rating to a “hold” rating in a report on Friday, May 1st. Finally, JPMorgan Chase & Co. upped their price objective on Garmin from $265.00 to $285.00 and gave the company a “neutral” rating in a research report on Thursday, April 16th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Garmin has an average rating of “Moderate Buy” and a consensus target price of $269.40.

Garmin Stock Performance

Shares of Garmin stock opened at $232.30 on Thursday. The stock has a market cap of $44.80 billion, a P/E ratio of 25.90, a P/E/G ratio of 2.78 and a beta of 0.91. The stock’s fifty day moving average is $244.78 and its 200 day moving average is $227.92. Garmin Ltd. has a one year low of $186.67 and a one year high of $273.32.

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

Insider Activity at Garmin

In other Garmin news, Director Joseph J. Hartnett sold 643 shares of the company’s stock in a transaction that occurred on 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 directly owned 21,277 shares in the company, valued at $5,607,978.89. This represents a 2.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Douglas G. Boessen sold 2,000 shares of the firm’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $237.91, for a total transaction of $475,820.00. Following the sale, the chief financial officer owned 26,049 shares in the company, valued at $6,197,317.59. The trade was a 7.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 15.38% of the stock is owned by insiders.

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.