Garmin Ltd. $GRMN Holdings Lifted by Swiss National Bank

Swiss National Bank lifted its stake in Garmin Ltd. (NYSE:GRMN) by 7.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 479,800 shares of the scientific and technical instruments company’s stock after purchasing an additional 31,400 shares during the quarter. Swiss National Bank owned 0.25% of Garmin worth $111,318,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the stock. Reflection Asset Management purchased a new stake in shares of Garmin during the 4th quarter worth about $32,000. Archer Investment Corp bought a new stake in shares of Garmin in the 1st quarter valued at approximately $37,000. Atlas Capital Advisors Inc. acquired a new position in Garmin in the fourth quarter worth approximately $34,000. Avalon Trust Co bought a new position in Garmin during the first quarter valued at approximately $47,000. Finally, Torren Management LLC acquired a new stake in Garmin in the fourth quarter valued at approximately $41,000. 81.60% of the stock is currently owned by institutional investors and hedge funds.

Garmin Trading Down 1.7%

GRMN opened at $245.23 on Tuesday. The stock’s 50 day simple moving average is $238.23 and its 200-day simple moving average is $233.94. The stock has a market cap of $47.29 billion, a PE ratio of 27.34, a P/E/G ratio of 2.95 and a beta of 0.90. Garmin Ltd. has a 1 year low of $186.67 and a 1 year 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 earnings per share for the quarter, beating analysts’ consensus estimates of $1.84 by $0.24. Garmin had a return on equity of 20.07% and a net margin of 23.26%.The company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.72 billion. During the same period in the previous year, the business earned $1.61 earnings per share. The company’s quarterly revenue was up 14.0% on a year-over-year basis. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. Equities analysts forecast that Garmin Ltd. will post 9.53 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Tigress Financial lifted their price objective on shares of Garmin from $320.00 to $325.00 and gave the company a “strong-buy” rating in a research note on Wednesday, May 20th. Morgan Stanley set a $249.00 target price on Garmin in a report on Thursday, April 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Garmin in a research report on Monday, June 8th. JPMorgan Chase & Co. upped their price target on Garmin from $265.00 to $285.00 and gave the stock a “neutral” rating in a research note on Thursday, April 16th. Finally, Zacks Research lowered Garmin from a “strong-buy” rating to a “hold” rating in a report on Friday, May 1st. One 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 company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $269.40.

Insiders Place Their Bets

In related news, 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 sale, the chief financial officer directly owned 26,049 shares in the company, valued at $6,197,317.59. This trade represents a 7.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joseph J. Hartnett sold 643 shares of Garmin stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $263.57, for a total transaction of $169,475.51. Following the sale, the director owned 21,277 shares of the company’s stock, valued at approximately $5,607,978.89. This represents a 2.93% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 14.80% of the company’s stock.

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.