SG Americas Securities LLC Buys 333,345 Shares of Garmin Ltd. $GRMN

SG Americas Securities LLC grew its position in shares of Garmin Ltd. (NYSE:GRMN) by 192.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 506,273 shares of the scientific and technical instruments company’s stock after acquiring an additional 333,345 shares during the quarter. SG Americas Securities LLC’s holdings in Garmin were worth $117,460,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. GSA Capital Partners LLP purchased a new stake in Garmin in the 4th quarter valued at about $979,000. ARK Investment Management LLC lifted its position in shares of Garmin by 10.9% during the 3rd quarter. ARK Investment Management LLC now owns 28,925 shares of the scientific and technical instruments company’s stock worth $7,122,000 after buying an additional 2,852 shares in the last quarter. Diversified Trust Co. boosted its stake in shares of Garmin by 123.1% in the 4th quarter. Diversified Trust Co. now owns 8,248 shares of the scientific and technical instruments company’s stock worth $1,673,000 after buying an additional 4,551 shares during the last quarter. DB Fitzpatrick & Co Inc purchased a new position in shares of Garmin in the 4th quarter worth approximately $1,439,000. Finally, DNB Asset Management AS grew its holdings in shares of Garmin by 6.8% in the third quarter. DNB Asset Management AS now owns 32,438 shares of the scientific and technical instruments company’s stock valued at $7,987,000 after acquiring an additional 2,060 shares in the last quarter. Institutional investors own 81.60% of the company’s stock.

Garmin Stock Up 0.0%

Shares of GRMN stock opened at $234.22 on Monday. The company has a 50 day moving average of $244.28 and a 200-day moving average of $228.45. Garmin Ltd. has a 12-month low of $186.67 and a 12-month high of $273.32. The firm has a market cap of $45.17 billion, a P/E ratio of 26.11, a PEG ratio of 2.77 and a beta of 0.91.

Garmin (NYSE:GRMN) last posted its quarterly earnings results on Wednesday, April 29th. The scientific and technical instruments company reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $1.84 by $0.24. Garmin had a net margin of 23.26% and a return on equity of 20.07%. The company had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter in the previous year, the firm posted $1.61 EPS. Garmin’s revenue was up 14.0% on a year-over-year basis. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. As a group, equities analysts expect that Garmin Ltd. will post 9.53 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently commented on GRMN shares. Wall Street Zen downgraded Garmin from a “buy” rating to a “hold” rating in a research report on Saturday. Barclays cut their price objective on Garmin from $240.00 to $238.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 30th. JPMorgan Chase & Co. raised their target price on Garmin from $265.00 to $285.00 and gave the company a “neutral” rating in a research report on Thursday, April 16th. Zacks Research cut Garmin from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. Finally, Morgan Stanley set a $249.00 target price on Garmin in a research note on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Garmin currently has a consensus rating of “Moderate Buy” and a consensus target price of $269.40.

Insiders Place Their Bets

In other Garmin news, 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 value of $475,820.00. Following the sale, the chief financial officer directly 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 value of $169,475.51. Following the completion of the sale, the director owned 21,277 shares in the company, valued at approximately $5,607,978.89. The trade was a 2.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 19.54% 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.