Rockefeller Capital Management L.P. raised its holdings in Garmin Ltd. (NYSE:GRMN – Free Report) by 34.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,954 shares of the scientific and technical instruments company’s stock after acquiring an additional 2,281 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Garmin were worth $1,816,000 as of its most recent filing with the SEC.
Several other institutional investors also recently made changes to their positions in GRMN. Daymark Wealth Partners LLC increased its holdings in shares of Garmin by 0.7% in the 4th quarter. Daymark Wealth Partners LLC now owns 6,813 shares of the scientific and technical instruments company’s stock valued at $1,382,000 after purchasing an additional 48 shares in the last quarter. S.A. Mason LLC lifted its stake in shares of Garmin by 2.4% in the fourth quarter. S.A. Mason LLC now owns 2,150 shares of the scientific and technical instruments company’s stock valued at $436,000 after purchasing an additional 50 shares during the period. Quadrant Capital Group LLC boosted its holdings in Garmin by 1.0% during the third quarter. Quadrant Capital Group LLC now owns 4,917 shares of the scientific and technical instruments company’s stock worth $1,211,000 after buying an additional 51 shares in the last quarter. Itau Unibanco Holding S.A. boosted its holdings in Garmin by 23.0% during the fourth quarter. Itau Unibanco Holding S.A. now owns 283 shares of the scientific and technical instruments company’s stock worth $57,000 after buying an additional 53 shares in the last quarter. Finally, UMB Bank n.a. grew its position in Garmin by 1.5% during the fourth quarter. UMB Bank n.a. now owns 3,508 shares of the scientific and technical instruments company’s stock worth $712,000 after buying an additional 53 shares during the period. 81.60% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling at Garmin
In related news, CFO Douglas G. Boessen sold 2,000 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $237.91, for a total transaction of $475,820.00. Following the sale, the chief financial officer owned 26,049 shares of the company’s stock, valued at $6,197,317.59. This trade represents a 7.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joseph J. Hartnett sold 643 shares of the business’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $263.57, for a total transaction of $169,475.51. Following the completion of the transaction, the director directly owned 21,277 shares of the company’s stock, valued at $5,607,978.89. The trade was a 2.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 19.54% of the stock is owned by corporate insiders.
Garmin Trading Up 1.6%
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 (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter in the prior year, the firm earned $1.61 earnings per share. The company’s revenue for the quarter was up 14.0% compared to the same quarter last year. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. As a group, research analysts expect that Garmin Ltd. will post 9.53 earnings per share for the current year.
Wall Street Analysts Forecast Growth
GRMN has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Garmin in a report on Monday, June 8th. Tigress Financial boosted their price target 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. upped their price target on Garmin from $265.00 to $285.00 and gave the stock a “neutral” rating in a report on Thursday, April 16th. Zacks Research downgraded Garmin from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. Finally, Wall Street Zen cut Garmin from a “buy” rating to a “hold” rating in a report on Saturday, June 20th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $269.40.
View Our Latest Analysis on Garmin
About Garmin
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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