Legal & General Group Plc cut its position in Garmin Ltd. (NYSE:GRMN – Free Report) by 1.7% during the 4th quarter, HoldingsChannel reports. The firm owned 1,160,116 shares of the scientific and technical instruments company’s stock after selling 20,138 shares during the quarter. Legal & General Group Plc’s holdings in Garmin were worth $235,330,000 at the end of the most recent quarter.
Several other hedge funds also recently bought and sold shares of GRMN. Alliancebernstein L.P. raised its holdings in Garmin by 649.2% in the third quarter. Alliancebernstein L.P. now owns 1,256,668 shares of the scientific and technical instruments company’s stock worth $309,417,000 after purchasing an additional 1,088,938 shares during the period. Vanguard Group Inc. raised its holdings in Garmin by 2.5% in the third quarter. Vanguard Group Inc. now owns 20,197,564 shares of the scientific and technical instruments company’s stock worth $4,973,044,000 after purchasing an additional 499,235 shares during the period. KBC Group NV raised its holdings in Garmin by 113.6% in the fourth quarter. KBC Group NV now owns 561,291 shares of the scientific and technical instruments company’s stock worth $113,859,000 after purchasing an additional 298,462 shares during the period. Lazard Asset Management LLC raised its holdings in Garmin by 530.5% in the third quarter. Lazard Asset Management LLC now owns 351,690 shares of the scientific and technical instruments company’s stock worth $86,593,000 after purchasing an additional 295,914 shares during the period. Finally, Man Group plc raised its holdings in Garmin by 302.5% in the third quarter. Man Group plc now owns 244,679 shares of the scientific and technical instruments company’s stock worth $60,245,000 after purchasing an additional 183,889 shares during the period. 81.60% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several equities research analysts have weighed in on GRMN shares. JPMorgan Chase & Co. increased their target price on shares of Garmin from $265.00 to $285.00 and gave the stock a “neutral” rating in a report on Thursday, April 16th. Tigress Financial increased their price objective on shares of Garmin from $320.00 to $325.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, May 20th. Barclays lowered their price objective on shares of Garmin from $240.00 to $238.00 and set an “equal weight” rating for the company in a research report on Thursday, April 30th. Morgan Stanley set a $249.00 price objective on shares of Garmin in a research report on Thursday, April 30th. Finally, Zacks Research downgraded shares of Garmin from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 1st. One research 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 stock. According to MarketBeat.com, Garmin currently has an average rating of “Moderate Buy” and a consensus target price of $269.40.
Garmin Stock Down 0.1%
Shares of GRMN stock opened at $238.28 on Thursday. The firm has a fifty day moving average of $244.48 and a 200-day moving average of $223.42. Garmin Ltd. has a 12-month low of $186.67 and a 12-month high of $273.32. The company has a market capitalization of $45.95 billion, a price-to-earnings ratio of 26.56, a P/E/G ratio of 2.81 and a beta of 0.94.
Garmin (NYSE:GRMN – Get Free Report) last released its earnings results 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. The business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.72 billion. Garmin had a net margin of 23.26% and a return on equity of 20.07%. The firm’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.61 earnings per share. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. On average, equities analysts expect that Garmin Ltd. will post 9.57 EPS for the current year.
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.
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