Sterling Capital Management LLC Sells 7,841 Shares of Garmin Ltd. $GRMN

Sterling Capital Management LLC lessened its holdings in Garmin Ltd. (NYSE:GRMN) by 39.9% during the first quarter, HoldingsChannel reports. The firm owned 11,815 shares of the scientific and technical instruments company’s stock after selling 7,841 shares during the quarter. Sterling Capital Management LLC’s holdings in Garmin were worth $2,741,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GSA Capital Partners LLP acquired a new position in Garmin during the 4th quarter worth approximately $979,000. ARK Investment Management LLC boosted its position in Garmin by 10.9% in the third quarter. ARK Investment Management LLC now owns 28,925 shares of the scientific and technical instruments company’s stock valued at $7,122,000 after buying an additional 2,852 shares in the last quarter. Diversified Trust Co. grew its stake in shares of Garmin by 123.1% during the fourth 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 bought a new stake in shares of Garmin during the fourth quarter worth $1,439,000. Finally, DNB Asset Management AS increased its holdings in shares of Garmin by 6.8% during the third quarter. DNB Asset Management AS now owns 32,438 shares of the scientific and technical instruments company’s stock worth $7,987,000 after buying an additional 2,060 shares in the last quarter. Institutional investors own 81.60% of the company’s stock.

Insider Buying and Selling

In related news, Director Joseph J. Hartnett sold 643 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $263.57, for a total value of $169,475.51. Following the sale, the director directly owned 21,277 shares in the company, valued at $5,607,978.89. This represents a 2.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Douglas G. Boessen sold 2,000 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $237.91, for a total transaction of $475,820.00. Following the sale, the chief financial officer directly owned 26,049 shares of the company’s stock, valued at $6,197,317.59. This represents a 7.13% decrease in their position. The SEC filing for this sale provides additional information. 15.38% of the stock is owned by insiders.

Garmin Stock Up 0.2%

NYSE GRMN opened at $233.02 on Monday. The company has a market capitalization of $44.94 billion, a price-to-earnings ratio of 25.98, a PEG ratio of 2.75 and a beta of 0.91. Garmin Ltd. has a twelve month low of $186.67 and a twelve month high of $273.32. The stock has a fifty day simple moving average of $241.80 and a 200 day simple moving average of $229.72.

Garmin (NYSE:GRMN) last announced its earnings results on Wednesday, April 29th. The scientific and technical instruments company reported $2.08 EPS for the quarter, topping 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 firm 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 EPS. The business’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. Research analysts expect that Garmin Ltd. will post 9.53 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on GRMN. Barclays cut their price objective on 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 downgraded Garmin from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 1st. JPMorgan Chase & Co. lifted their price target on Garmin from $265.00 to $285.00 and gave the company a “neutral” rating in a research note on Thursday, April 16th. Wall Street Zen cut Garmin from a “buy” rating to a “hold” rating in a report on Saturday, June 20th. Finally, Morgan Stanley set a $249.00 price objective 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 issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $269.40.

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.