Icon Wealth Advisors LLC acquired a new stake in shares of Garmin Ltd. (NYSE:GRMN – Free Report) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 2,296 shares of the scientific and technical instruments company’s stock, valued at approximately $466,000.
Other institutional investors and hedge funds also recently modified their holdings of the company. Atlas Capital Advisors Inc. acquired a new position in shares of Garmin during the 4th quarter valued at about $34,000. Torren Management LLC purchased a new stake in shares of Garmin during the 4th quarter worth about $41,000. GraniteShares Advisors LLC purchased a new stake in shares of Garmin during the 4th quarter worth about $41,000. Itau Unibanco Holding S.A. grew its holdings in shares of Garmin by 23.0% during the 4th quarter. Itau Unibanco Holding S.A. now owns 283 shares of the scientific and technical instruments company’s stock worth $57,000 after purchasing an additional 53 shares during the period. Finally, Elyxium Wealth LLC purchased a new stake in shares of Garmin during the 4th quarter worth about $60,000. Institutional investors and hedge funds own 81.60% of the company’s stock.
Analysts Set New Price Targets
A number of brokerages have recently issued reports on GRMN. Barclays decreased their target price on 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 cut Garmin from a “strong-buy” rating to a “hold” rating in a report on Friday, May 1st. Wall Street Zen upgraded Garmin from a “hold” rating to a “buy” rating in a report on Saturday, June 6th. Weiss Ratings reiterated a “buy (b)” rating on shares of Garmin in a report on Monday, June 8th. Finally, JPMorgan Chase & Co. boosted their target price on Garmin from $265.00 to $285.00 and gave the stock a “neutral” rating in a report on Thursday, April 16th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, Garmin presently has an average rating of “Moderate Buy” and an average price target of $269.40.
Insider Buying and Selling
In other Garmin news, Director Joseph J. Hartnett sold 643 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $263.57, for a total value of $169,475.51. Following the completion of 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Douglas G. Boessen sold 2,000 shares of the company’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 value of $475,820.00. Following the completion of the transaction, the chief financial officer owned 26,049 shares of the company’s stock, valued at approximately $6,197,317.59. This represents a 7.13% decrease in their position. The SEC filing for this sale provides additional information. 19.54% of the stock is owned by corporate insiders.
Garmin Stock Up 0.1%
NYSE GRMN opened at $238.23 on Monday. The stock has a market cap of $45.95 billion, a PE ratio of 26.56, a P/E/G ratio of 2.81 and a beta of 0.91. Garmin Ltd. has a fifty-two week low of $186.67 and a fifty-two week high of $273.32. The business has a 50 day moving average price of $245.02 and a two-hundred day moving average price of $227.05.
Garmin (NYSE:GRMN – Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The scientific and technical instruments company reported $2.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.84 by $0.24. The firm 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 quarterly revenue was up 14.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.61 EPS. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. Sell-side analysts anticipate that Garmin Ltd. will post 9.53 EPS for the current fiscal 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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