HighTower Advisors LLC Trims Stake in Garmin Ltd. $GRMN

HighTower Advisors LLC cut its position in Garmin Ltd. (NYSE:GRMN) by 40.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 32,421 shares of the scientific and technical instruments company’s stock after selling 22,400 shares during the period. HighTower Advisors LLC’s holdings in Garmin were worth $6,577,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Daymark Wealth Partners LLC increased its stake in shares of Garmin by 0.7% in the fourth quarter. Daymark Wealth Partners LLC now owns 6,813 shares of the scientific and technical instruments company’s stock worth $1,382,000 after purchasing an additional 48 shares in the last quarter. SYM FINANCIAL Corp increased its stake in shares of Garmin by 4.0% in the third quarter. SYM FINANCIAL Corp now owns 1,294 shares of the scientific and technical instruments company’s stock worth $319,000 after purchasing an additional 50 shares in the last quarter. S.A. Mason LLC increased 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 worth $436,000 after purchasing an additional 50 shares in the last quarter. Quadrant Capital Group LLC increased its stake in shares of Garmin by 1.0% in 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 purchasing an additional 51 shares in the last quarter. Finally, Wealthcare Advisory Partners LLC increased its stake in shares of Garmin by 0.7% in the third quarter. Wealthcare Advisory Partners LLC now owns 7,724 shares of the scientific and technical instruments company’s stock worth $1,902,000 after purchasing an additional 53 shares in the last quarter. 81.60% of the stock is owned by hedge funds and other institutional investors.

Garmin Stock Performance

Shares of NYSE:GRMN opened at $238.28 on Thursday. The firm has a fifty day moving average price of $244.48 and a 200 day moving average price of $223.42. Garmin Ltd. has a fifty-two week low of $186.67 and a fifty-two week high of $273.32. The firm has a market cap 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) last issued its 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. Garmin had a net margin of 23.26% and a return on equity of 20.07%. The firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.72 billion. During the same quarter in the prior year, the business earned $1.61 earnings per share. Garmin’s revenue for the quarter was up 14.0% on a year-over-year basis. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. As a group, research analysts predict that Garmin Ltd. will post 9.57 earnings per share for the current year.

Analysts Set New Price Targets

GRMN has been the subject of a number of analyst reports. Zacks Research cut shares of Garmin from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. Barclays reduced 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 note on Thursday, April 30th. Morgan Stanley set a $249.00 price objective on shares of Garmin in a research note on Thursday, April 30th. JPMorgan Chase & Co. increased their price objective on shares of Garmin from $265.00 to $285.00 and gave the stock a “neutral” rating in a research note on Thursday, April 16th. Finally, 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 note on Wednesday, May 20th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Garmin has an average rating of “Moderate Buy” and a consensus price target of $269.40.

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.