Andra AP fonden Decreases Stock Holdings in Garmin Ltd. $GRMN

Andra AP fonden cut its stake in Garmin Ltd. (NYSE:GRMN) by 7.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 93,356 shares of the scientific and technical instruments company’s stock after selling 7,744 shares during the quarter. Andra AP fonden’s holdings in Garmin were worth $21,660,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Westmount Partners LLC grew its stake in shares of Garmin by 1.9% during the first quarter. Westmount Partners LLC now owns 2,205 shares of the scientific and technical instruments company’s stock valued at $512,000 after acquiring an additional 42 shares in the last quarter. Caldwell Trust Co boosted its holdings in Garmin by 4.4% in the first quarter. Caldwell Trust Co now owns 1,023 shares of the scientific and technical instruments company’s stock worth $237,000 after purchasing an additional 43 shares during the period. HHM Wealth Advisors LLC raised its holdings in shares of Garmin by 6.9% during the first quarter. HHM Wealth Advisors LLC now owns 698 shares of the scientific and technical instruments company’s stock worth $162,000 after purchasing an additional 45 shares during the period. Fulton Bank N.A. lifted its position in shares of Garmin by 2.9% in the 1st quarter. Fulton Bank N.A. now owns 1,672 shares of the scientific and technical instruments company’s stock worth $388,000 after buying an additional 47 shares during the last quarter. Finally, Daymark Wealth Partners LLC lifted its position in shares of Garmin by 0.7% in the 4th quarter. Daymark Wealth Partners LLC now owns 6,813 shares of the scientific and technical instruments company’s stock worth $1,382,000 after buying an additional 48 shares during the last quarter. 81.60% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Garmin

In other Garmin news, CFO Douglas G. Boessen sold 2,000 shares of the firm’s 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 transaction, the chief financial officer 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Joseph J. Hartnett sold 643 shares of the business’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 in the company, valued at $5,607,978.89. This trade represents a 2.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 14.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on GRMN. Tigress Financial boosted their price objective on shares of Garmin from $320.00 to $325.00 and gave the company a “strong-buy” rating in a research report on Wednesday, May 20th. Weiss Ratings reissued a “buy (b)” rating on shares of Garmin in a report on Monday, June 8th. Zacks Research downgraded Garmin from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. JPMorgan Chase & Co. upped their target price on Garmin from $265.00 to $285.00 and gave the company a “neutral” rating in a report on Thursday, April 16th. Finally, Wall Street Zen cut Garmin from a “buy” rating to a “hold” rating in a research report on Saturday, June 20th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $269.40.

Garmin Trading Down 1.7%

GRMN opened at $245.23 on Tuesday. The business’s 50 day moving average is $238.23 and its 200-day moving average is $233.94. The stock has a market cap of $47.30 billion, a PE ratio of 27.34, a price-to-earnings-growth ratio of 2.95 and a beta of 0.90. Garmin Ltd. has a twelve month low of $186.67 and a twelve month high of $273.32.

Garmin (NYSE:GRMN) last issued its quarterly earnings data on Wednesday, April 29th. The scientific and technical instruments company reported $2.08 earnings per share (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 during the quarter, compared to analyst estimates of $1.72 billion. During the same period in the prior year, the company posted $1.61 EPS. The business’s revenue for the quarter was up 14.0% compared to the same quarter last year. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. As a group, analysts forecast that Garmin Ltd. will post 9.53 EPS 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.