SG Trading Solutions LLC Takes Position in Garmin Ltd. $GRMN

SG Trading Solutions LLC bought a new stake in Garmin Ltd. (NYSE:GRMN) in the fourth quarter, Holdings Channel.com reports. The institutional investor bought 2,144 shares of the scientific and technical instruments company’s stock, valued at approximately $435,000.

A number of other institutional investors have also added to or reduced their stakes in GRMN. MV Capital Management Inc. acquired a new stake in Garmin in the fourth quarter valued at approximately $3,297,000. Corient Private Wealth LLC raised its position in shares of Garmin by 59.0% during the fourth quarter. Corient Private Wealth LLC now owns 32,562 shares of the scientific and technical instruments company’s stock worth $6,605,000 after purchasing an additional 12,084 shares during the period. Alpine Woods Capital Investors LLC lifted its holdings in shares of Garmin by 9.6% in the 4th quarter. Alpine Woods Capital Investors LLC now owns 10,209 shares of the scientific and technical instruments company’s stock worth $2,071,000 after purchasing an additional 895 shares in the last quarter. Summit Global Investments acquired a new stake in Garmin in the 4th quarter valued at $210,000. Finally, Vident Advisory LLC increased its stake in Garmin by 11.8% during the 4th quarter. Vident Advisory LLC now owns 13,600 shares of the scientific and technical instruments company’s stock valued at $2,759,000 after purchasing an additional 1,438 shares in the last quarter. 81.60% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Garmin

In related news, CFO Douglas G. Boessen sold 2,000 shares of the stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $237.91, for a total transaction of $475,820.00. Following the completion of the transaction, the chief financial officer owned 26,049 shares in the company, valued at approximately $6,197,317.59. This represents a 7.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Joseph J. Hartnett sold 643 shares of the firm’s stock in a transaction dated 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 $5,607,978.89. This trade represents a 2.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 15.38% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on GRMN shares. Wall Street Zen downgraded shares of Garmin from a “buy” rating to a “hold” rating in a report on Saturday. Weiss Ratings reissued a “buy (b)” rating on shares of Garmin in a research report on Monday, June 8th. Barclays lowered their target price on shares of Garmin from $240.00 to $238.00 and set an “equal weight” rating on the stock in a report on Thursday, April 30th. Zacks Research cut shares of Garmin from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 1st. Finally, Morgan Stanley set a $249.00 price target 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 issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Garmin presently has an average rating of “Moderate Buy” and a consensus target price of $269.40.

Garmin Stock Up 0.0%

GRMN stock opened at $234.22 on Friday. The firm has a market cap of $45.17 billion, a PE ratio of 26.11, a P/E/G ratio of 2.77 and a beta of 0.91. The business has a 50 day moving average of $244.28 and a 200-day moving average of $228.24. Garmin Ltd. has a 12-month low of $186.67 and a 12-month high of $273.32.

Garmin (NYSE:GRMN) last issued 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 return on equity of 20.07% and a net margin of 23.26%.The business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same period last year, the company posted $1.61 earnings per share. 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, research analysts expect that Garmin Ltd. will post 9.53 earnings per share for the current year.

About Garmin

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.