Handelsbanken Fonder AB Has $46.62 Million Stake in Garmin Ltd. $GRMN

Handelsbanken Fonder AB lifted its position in Garmin Ltd. (NYSE:GRMN) by 2.2% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 196,267 shares of the scientific and technical instruments company’s stock after buying an additional 4,252 shares during the quarter. Handelsbanken Fonder AB’s holdings in Garmin were worth $46,621,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in GRMN. GSA Capital Partners LLP bought a new stake in Garmin in the fourth quarter worth approximately $979,000. Commerzbank Aktiengesellschaft FI raised its holdings in shares of Garmin by 282.5% during the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 6,518 shares of the scientific and technical instruments company’s stock valued at $1,322,000 after purchasing an additional 4,814 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Garmin by 121.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 107,929 shares of the scientific and technical instruments company’s stock valued at $25,041,000 after purchasing an additional 59,229 shares in the last quarter. Generali Asset Management SPA SGR lifted its stake in shares of Garmin by 8,727.4% in the 4th quarter. Generali Asset Management SPA SGR now owns 9,357 shares of the scientific and technical instruments company’s stock valued at $1,898,000 after purchasing an additional 9,251 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in shares of Garmin by 3.2% in the 4th quarter. Principal Financial Group Inc. now owns 200,083 shares of the scientific and technical instruments company’s stock valued at $40,587,000 after purchasing an additional 6,126 shares during the last quarter. Institutional investors and hedge funds own 81.60% of the company’s stock.

Insider Buying and Selling

In related news, Director Joseph J. Hartnett sold 643 shares of the business’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $263.57, for a total transaction of $169,475.51. Following the transaction, the director owned 21,277 shares of the company’s stock, valued at approximately $5,607,978.89. The trade was a 2.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Douglas G. Boessen sold 2,000 shares of the business’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $237.91, for a total transaction of $475,820.00. Following the transaction, 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 position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 8,810 shares of company stock worth $2,478,157. 14.80% of the stock is currently owned by company insiders.

Garmin Price Performance

Shares of GRMN opened at $309.26 on Wednesday. The company has a market capitalization of $59.64 billion, a PE ratio of 31.88, a price-to-earnings-growth ratio of 3.49 and a beta of 0.87. Garmin Ltd. has a one year low of $186.67 and a one year high of $314.28. The company’s fifty day moving average price is $252.73 and its 200 day moving average price is $242.09.

Garmin (NYSE:GRMN) last issued its quarterly earnings results on Wednesday, July 29th. The scientific and technical instruments company reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.51. Garmin had a return on equity of 20.95% and a net margin of 24.47%.The company had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $1.93 billion. During the same period last year, the business posted $2.17 earnings per share. The firm’s revenue was up 11.4% compared to the same quarter last year. Garmin has set its FY 2026 guidance at 10.000-10.000 EPS. Analysts anticipate that Garmin Ltd. will post 10.1 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Tigress Financial reissued a “strong-buy” rating on shares of Garmin in a research report on Thursday, August 6th. Zacks Research raised Garmin from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 31st. Wall Street Zen downgraded Garmin from a “buy” rating to a “hold” rating in a research note on Saturday, June 20th. JPMorgan Chase & Co. increased their price objective on Garmin from $265.00 to $285.00 and gave the company a “neutral” rating in a report on Thursday, April 16th. Finally, Morgan Stanley boosted their target price on Garmin from $249.00 to $289.00 and gave the stock an “equal weight” rating in a report on Thursday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Garmin currently has an average rating of “Moderate Buy” and an average target price of $310.17.

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.