Fideuram Asset Management Ireland dac Makes New Investment in Garmin Ltd. $GRMN

Fideuram Asset Management Ireland dac bought a new position in shares of Garmin Ltd. (NYSE:GRMN) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 16,482 shares of the scientific and technical instruments company’s stock, valued at approximately $3,343,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC grew its stake in shares of Garmin by 788.9% in the third quarter. Cornerstone Planning Group LLC now owns 160 shares of the scientific and technical instruments company’s stock valued at $39,000 after buying an additional 142 shares in the last quarter. GraniteShares Advisors LLC acquired a new stake in shares of Garmin in the fourth quarter valued at $41,000. Torren Management LLC acquired a new stake in shares of Garmin in the fourth quarter valued at $41,000. Elyxium Wealth LLC acquired a new stake in shares of Garmin in the fourth quarter valued at $60,000. Finally, Camelot Portfolios LLC acquired a new stake in shares of Garmin in the fourth quarter valued at $81,000. Institutional investors and hedge funds own 81.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on GRMN shares. Barclays dropped their price objective on 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 Garmin in a research note on Thursday, April 30th. JPMorgan Chase & Co. lifted their price objective on Garmin from $265.00 to $285.00 and gave the company a “neutral” rating in a research note on Thursday, April 16th. Tigress Financial lifted their price objective on Garmin from $320.00 to $325.00 and gave the company a “strong-buy” rating in a research note on Wednesday, May 20th. Finally, Zacks Research cut Garmin from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Garmin has an average rating of “Moderate Buy” and a consensus price target of $269.40.

Garmin Trading Down 0.7%

NYSE:GRMN opened at $236.19 on Friday. The firm has a market cap of $45.55 billion, a PE ratio of 26.33, a price-to-earnings-growth ratio of 2.80 and a beta of 0.94. The stock has a fifty day moving average price of $244.50 and a 200 day moving average price of $223.67. Garmin Ltd. has a 12-month low of $186.67 and a 12-month high of $273.32.

Garmin (NYSE:GRMN) last released its earnings results on Wednesday, April 29th. The scientific and technical instruments company reported $2.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.84 by $0.24. The firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.72 billion. Garmin had a return on equity of 20.07% and a net margin of 23.26%.Garmin’s revenue was up 14.0% compared to the same quarter last year. During the same period last year, the business posted $1.61 earnings per share. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. Equities analysts forecast that Garmin Ltd. will post 9.57 EPS for the current year.

Garmin Company 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.