Madison Asset Management LLC acquired a new position in shares of Garmin Ltd. (NYSE:GRMN – Free Report) in the 2nd quarter, Holdings Channel.com reports. The fund acquired 3,651 shares of the scientific and technical instruments company’s stock, valued at approximately $867,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Groupe la Francaise lifted its position in Garmin by 346.4% in the 1st quarter. Groupe la Francaise now owns 125 shares of the scientific and technical instruments company’s stock valued at $29,000 after acquiring an additional 97 shares in the last quarter. Reflection Asset Management acquired a new position in Garmin in the 4th quarter worth $32,000. Atlas Capital Advisors Inc. bought a new position in Garmin during the 4th quarter worth about $34,000. Archer Investment Corp bought a new position in Garmin during the 1st quarter worth about $37,000. Finally, Torren Management LLC acquired a new stake in shares of Garmin in the 4th quarter valued at about $41,000. 81.60% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at Garmin
In other Garmin news, CEO Clifton A. Pemble sold 4,029 shares of the firm’s stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $300.00, for a total value of $1,208,700.00. Following the completion of the transaction, the chief executive officer directly owned 120,127 shares in the company, valued at $36,038,100. This trade represents a 3.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Cheng-Wei Wang sold 9,941 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $299.36, for a total value of $2,975,937.76. Following the transaction, the insider directly owned 29,506 shares in the company, valued at $8,832,916.16. This trade represents a 25.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 18,751 shares of company stock valued at $5,454,095 in the last ninety days. Insiders own 14.80% of the company’s stock.
Garmin Trading Up 0.6%
Garmin (NYSE:GRMN – Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The scientific and technical instruments company reported $2.81 EPS for the quarter, topping analysts’ consensus estimates of $2.30 by $0.51. The company had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $1.93 billion. Garmin had a net margin of 24.47% and a return on equity of 20.95%. The company’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period in the prior year, the business posted $2.17 EPS. Garmin has set its FY 2026 guidance at 10.000-10.000 EPS. As a group, equities research analysts forecast that Garmin Ltd. will post 10.08 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
A number of analysts have recently commented on the company. Wall Street Zen lowered Garmin from a “buy” rating to a “hold” rating in a report on Saturday, June 20th. Barclays increased their price objective on Garmin from $238.00 to $297.00 and gave the stock an “equal weight” rating in a report on Thursday, July 30th. Morgan Stanley boosted their target price on Garmin from $249.00 to $289.00 and gave the company an “equal weight” rating in a research note on Thursday, July 30th. UBS Group set a $370.00 target price on Garmin in a research note on Thursday, August 6th. Finally, Tigress Financial reaffirmed a “strong-buy” rating on shares of Garmin in a research report on Thursday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $310.17.
View Our Latest Research Report on Garmin
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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