KBC Group NV reduced its position in Garmin Ltd. (NYSE:GRMN – Free Report) by 1.6% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 552,250 shares of the scientific and technical instruments company’s stock after selling 9,041 shares during the period. KBC Group NV’s holdings in Garmin were worth $128,127,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Garmin during the 4th quarter worth $395,234,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of Garmin in the fourth quarter valued at $214,382,000. Man Group plc increased its stake in Garmin by 232.0% in 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 acquired a new position in Garmin in the fourth quarter valued at $68,106,000. Finally, SG Americas Securities LLC lifted its position in Garmin by 192.8% during 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 period. 81.60% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In related news, CFO Douglas G. Boessen sold 2,000 shares of Garmin stock in a transaction on 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 in the company, valued at approximately $6,197,317.59. The trade was a 7.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Joseph J. Hartnett sold 643 shares of the company’s stock in a transaction on 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 directly owned 21,277 shares of the company’s stock, valued at approximately $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. Company insiders own 14.80% of the company’s stock.
Garmin Stock Performance
Garmin (NYSE:GRMN – Get Free Report) last announced its quarterly 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. Garmin had a net margin of 23.26% and a return on equity of 20.07%. The firm had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.72 billion. During the same period in the previous year, the company posted $1.61 earnings per share. Garmin’s revenue was up 14.0% compared to the same quarter last year. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. Analysts predict that Garmin Ltd. will post 9.53 earnings per share for the current year.
Analyst Ratings Changes
Several analysts have commented on the company. JPMorgan Chase & Co. lifted 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. Tigress Financial raised their target price 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 target price 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. Zacks Research lowered shares of Garmin from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 1st. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Garmin in a research note on Monday, June 8th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $269.40.
Read Our Latest Stock Report on GRMN
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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