IFP Advisors Inc Sells 4,771 Shares of Garmin Ltd. $GRMN

IFP Advisors Inc trimmed its holdings in Garmin Ltd. (NYSE:GRMN) by 74.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,602 shares of the scientific and technical instruments company’s stock after selling 4,771 shares during the quarter. IFP Advisors Inc’s holdings in Garmin were worth $325,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Intrust Bank NA boosted its stake in Garmin by 11.0% in the 4th quarter. Intrust Bank NA now owns 2,752 shares of the scientific and technical instruments company’s stock worth $558,000 after purchasing an additional 273 shares during the period. Banque Cantonale Vaudoise boosted its stake in Garmin by 31.0% in the 4th quarter. Banque Cantonale Vaudoise now owns 1,638 shares of the scientific and technical instruments company’s stock worth $333,000 after purchasing an additional 388 shares during the period. Cullen Frost Bankers Inc. boosted its stake in Garmin by 12.9% in the 4th quarter. Cullen Frost Bankers Inc. now owns 938 shares of the scientific and technical instruments company’s stock worth $190,000 after purchasing an additional 107 shares during the period. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new position in Garmin in the 4th quarter worth approximately $3,894,000. Finally, GSA Capital Partners LLP bought a new position in Garmin in the 4th quarter worth approximately $979,000. 81.60% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

GRMN has been the subject of several recent analyst reports. Barclays dropped their price target on Garmin from $240.00 to $238.00 and set an “equal weight” rating for the company in a research note on Thursday, April 30th. Tigress Financial upped their price objective on Garmin from $320.00 to $325.00 and gave the stock a “strong-buy” rating in a report on Wednesday, May 20th. JPMorgan Chase & Co. upped their price objective on Garmin from $265.00 to $285.00 and gave the stock a “neutral” rating in a report on Thursday, April 16th. Morgan Stanley set a $249.00 price objective on Garmin in a report on Thursday, April 30th. Finally, Zacks Research cut 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 issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $269.40.

Garmin Price Performance

Shares of GRMN opened at $238.28 on Thursday. The stock has a market capitalization of $45.95 billion, a price-to-earnings ratio of 26.56, a price-to-earnings-growth ratio of 2.81 and a beta of 0.94. Garmin Ltd. has a 1 year low of $186.67 and a 1 year high of $273.32. The business’s 50 day simple moving average is $244.48 and its 200-day simple moving average is $223.42.

Garmin (NYSE:GRMN) last released its quarterly earnings results on Wednesday, April 29th. The scientific and technical instruments company reported $2.08 earnings per share for the quarter, beating 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 company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same quarter in the prior year, the firm posted $1.61 EPS. 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, sell-side analysts expect that Garmin Ltd. will post 9.57 earnings per share for the current year.

Garmin 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.