Dai ichi Life Insurance Company Ltd Sells 11,223 Shares of Garmin Ltd. $GRMN

Dai ichi Life Insurance Company Ltd lowered its position in shares of Garmin Ltd. (NYSE:GRMN) by 78.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,131 shares of the scientific and technical instruments company’s stock after selling 11,223 shares during the quarter. Dai ichi Life Insurance Company Ltd’s holdings in Garmin were worth $726,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. GSA Capital Partners LLP bought a new position in shares of Garmin during the fourth quarter valued at $979,000. DB Fitzpatrick & Co Inc bought a new stake in Garmin during the 4th quarter valued at about $1,439,000. Commerzbank Aktiengesellschaft FI raised its holdings in Garmin by 282.5% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 6,518 shares of the scientific and technical instruments company’s stock worth $1,322,000 after buying an additional 4,814 shares during the last quarter. Generali Asset Management SPA SGR lifted its stake in shares of Garmin by 8,727.4% in the fourth quarter. Generali Asset Management SPA SGR now owns 9,357 shares of the scientific and technical instruments company’s stock worth $1,898,000 after buying an additional 9,251 shares in the last quarter. Finally, Westerkirk Capital Inc. grew its holdings in shares of Garmin by 88.2% during the fourth quarter. Westerkirk Capital Inc. now owns 20,700 shares of the scientific and technical instruments company’s stock valued at $4,199,000 after buying an additional 9,700 shares during the last quarter. 81.60% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Joseph J. Hartnett sold 643 shares of the stock in a transaction that occurred 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 transaction, the director owned 21,277 shares in the company, valued at $5,607,978.89. This represents a 2.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Douglas G. Boessen sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The stock was 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 directly owned 26,049 shares in the company, valued at approximately $6,197,317.59. The trade was a 7.13% decrease in their position. The SEC filing for this sale provides additional information. 14.80% of the stock is owned by corporate insiders.

Garmin Price Performance

Shares of GRMN opened at $242.39 on Tuesday. Garmin Ltd. has a one year low of $186.67 and a one year high of $273.32. The firm has a market capitalization of $46.75 billion, a P/E ratio of 27.02, a PEG ratio of 2.87 and a beta of 0.90. The business has a fifty day moving average of $239.13 and a 200 day moving average of $235.21.

Garmin (NYSE:GRMN) last posted its quarterly earnings data on Wednesday, April 29th. The scientific and technical instruments company reported $2.08 EPS for the quarter, beating analysts’ consensus estimates of $1.84 by $0.24. The company had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.72 billion. Garmin had a return on equity of 20.07% and a net margin of 23.26%.Garmin’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 business earned $1.61 earnings per share. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. Analysts expect that Garmin Ltd. will post 9.53 EPS for the current fiscal year.

Analysts Set New Price Targets

GRMN has been the subject of a number of recent analyst reports. Barclays decreased their price objective on shares of Garmin from $240.00 to $238.00 and set an “equal weight” rating for the company in a report on Thursday, April 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of Garmin in a research note on Monday, June 8th. Zacks Research lowered Garmin from a “strong-buy” rating to a “hold” rating in a report on Friday, May 1st. JPMorgan Chase & Co. upped their price target 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 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 data from MarketBeat.com, Garmin has a consensus rating of “Moderate Buy” and a consensus target price of $269.40.

Garmin 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.