HighTower Advisors LLC decreased its stake in shares of Garmin Ltd. (NYSE:GRMN – Free Report) by 40.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 32,421 shares of the scientific and technical instruments company’s stock after selling 22,400 shares during the period. HighTower Advisors LLC’s holdings in Garmin were worth $6,577,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of GRMN. Brighton Jones LLC lifted its position in Garmin by 31.3% during the fourth quarter. Brighton Jones LLC now owns 1,943 shares of the scientific and technical instruments company’s stock valued at $401,000 after purchasing an additional 463 shares during the last quarter. NewEdge Advisors LLC increased its stake in Garmin by 6.2% during the first quarter. NewEdge Advisors LLC now owns 5,885 shares of the scientific and technical instruments company’s stock worth $1,278,000 after acquiring an additional 345 shares during the last quarter. Woodline Partners LP increased its stake in Garmin by 40.6% during the first quarter. Woodline Partners LP now owns 13,017 shares of the scientific and technical instruments company’s stock worth $2,826,000 after acquiring an additional 3,757 shares during the last quarter. Focus Partners Wealth increased its stake in Garmin by 51.1% during the first quarter. Focus Partners Wealth now owns 6,811 shares of the scientific and technical instruments company’s stock worth $1,479,000 after acquiring an additional 2,304 shares during the last quarter. Finally, Sivia Capital Partners LLC increased its stake in Garmin by 17.0% during the second quarter. Sivia Capital Partners LLC now owns 1,662 shares of the scientific and technical instruments company’s stock worth $347,000 after acquiring an additional 242 shares during the last quarter. Institutional investors own 81.60% of the company’s stock.
Analysts Set New Price Targets
GRMN has been the topic of several analyst reports. Morgan Stanley set a $249.00 price objective on Garmin in a research note on Thursday, April 30th. Zacks Research cut Garmin from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. Tigress Financial boosted their price objective on Garmin from $320.00 to $325.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, May 20th. JPMorgan Chase & Co. boosted 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. Finally, Barclays reduced their price objective on Garmin from $240.00 to $238.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 30th. One 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. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $269.40.
Garmin Price Performance
Shares of GRMN opened at $238.28 on Thursday. Garmin Ltd. has a 1-year low of $186.67 and a 1-year high of $273.32. The company has a 50-day moving average of $244.48 and a 200 day moving average of $223.42. The firm has a market capitalization of $45.95 billion, a price-to-earnings ratio of 26.56, a PEG ratio of 2.81 and a beta of 0.94.
Garmin (NYSE:GRMN – Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The scientific and technical instruments company reported $2.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.84 by $0.24. Garmin had a net margin of 23.26% and a return on equity of 20.07%. The company had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.72 billion. During the same quarter last year, the business posted $1.61 EPS. The firm’s revenue for the quarter was up 14.0% on a year-over-year basis. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. On average, equities analysts anticipate that Garmin Ltd. will post 9.57 earnings per share for the current fiscal year.
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.
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