ABN Amro Investment Solutions Buys Shares of 8,051 Garmin Ltd. $GRMN

ABN Amro Investment Solutions bought a new position in Garmin Ltd. (NYSE:GRMN) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 8,051 shares of the scientific and technical instruments company’s stock, valued at approximately $1,868,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Norges Bank bought a new stake in shares of Garmin during the 4th quarter worth about $395,234,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Garmin during the fourth quarter worth approximately $214,382,000. Man Group plc grew its holdings in Garmin by 232.0% during the fourth quarter. Man Group plc now owns 812,390 shares of the scientific and technical instruments company’s stock valued at $164,793,000 after purchasing an additional 567,711 shares during the last quarter. Westfield Capital Management Co. LP bought a new position in shares of Garmin in the fourth quarter valued at approximately $68,106,000. Finally, SG Americas Securities LLC lifted its stake in shares of Garmin by 192.8% in the first quarter. SG Americas Securities LLC now owns 506,273 shares of the scientific and technical instruments company’s stock worth $117,460,000 after buying an additional 333,345 shares during the last quarter. Institutional investors and hedge funds own 81.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Tigress Financial lifted their target price on shares of 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. lifted their price objective on Garmin from $265.00 to $285.00 and gave the stock a “neutral” rating in a research note on Thursday, April 16th. Weiss Ratings reissued a “buy (b)” rating on shares of Garmin in a research report on Monday, June 8th. Zacks Research lowered Garmin from a “strong-buy” rating to a “hold” rating in a report on Friday, May 1st. Finally, Wall Street Zen downgraded Garmin from a “buy” rating to a “hold” rating in a research report on Saturday, June 20th. 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 company’s stock. According to data from MarketBeat.com, Garmin currently has an average rating of “Moderate Buy” and an average target price of $269.40.

Garmin Price Performance

Shares of GRMN opened at $242.82 on Friday. The company has a market capitalization of $46.83 billion, a P/E ratio of 27.07, a PEG ratio of 2.84 and a beta of 0.90. Garmin Ltd. has a one year low of $186.67 and a one year high of $273.32. The business’s 50 day simple moving average is $238.82 and its 200-day simple moving average is $234.76.

Garmin (NYSE:GRMN) last issued its quarterly earnings results on Wednesday, April 29th. The scientific and technical instruments company reported $2.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.24. The business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.72 billion. Garmin had a return on equity of 20.07% and a net margin of 23.26%.The firm’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.61 earnings per share. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. On average, sell-side analysts anticipate that Garmin Ltd. will post 9.53 EPS for the current fiscal year.

Insider Buying and Selling at Garmin

In related news, CFO Douglas G. Boessen sold 2,000 shares of the firm’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $237.91, for a total value of $475,820.00. Following the completion of the transaction, the chief financial officer directly owned 26,049 shares of the company’s stock, valued at approximately $6,197,317.59. This trade 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 the SEC website. Also, Director Joseph J. Hartnett sold 643 shares of the 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. This trade represents a 2.93% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 14.80% 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.