Eurizon SLJ Capital Ltd Buys Shares of 8,445 Garmin Ltd. $GRMN

Eurizon SLJ Capital Ltd acquired a new position in Garmin Ltd. (NYSE:GRMN) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 8,445 shares of the scientific and technical instruments company’s stock, valued at approximately $1,713,000.

A number of other hedge funds also recently modified their holdings of GRMN. Cornerstone Planning Group LLC lifted its position in shares of Garmin by 788.9% in the 3rd quarter. Cornerstone Planning Group LLC now owns 160 shares of the scientific and technical instruments company’s stock worth $39,000 after acquiring an additional 142 shares during the period. GraniteShares Advisors LLC bought a new stake in shares of Garmin in the 4th quarter worth approximately $41,000. Torren Management LLC bought a new stake in shares of Garmin in the 4th quarter worth approximately $41,000. Elyxium Wealth LLC bought a new stake in shares of Garmin in the 4th quarter worth approximately $60,000. Finally, Camelot Portfolios LLC bought a new stake in shares of Garmin in the 4th quarter worth approximately $81,000. Institutional investors own 81.60% of the company’s stock.

Garmin Price Performance

Garmin stock opened at $234.00 on Friday. The company has a market capitalization of $45.13 billion, a PE ratio of 26.09, a price-to-earnings-growth ratio of 2.79 and a beta of 0.94. Garmin Ltd. has a one year low of $186.67 and a one year high of $273.32. The business has a 50 day simple moving average of $244.55 and a 200 day simple moving average of $223.74.

Garmin (NYSE:GRMN) last posted its earnings results on Wednesday, April 29th. The scientific and technical instruments company reported $2.08 EPS for the quarter, topping the consensus estimate of $1.84 by $0.24. The business had revenue of $1.75 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter last year, the company earned $1.61 EPS. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. Equities analysts anticipate that Garmin Ltd. will post 9.53 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Barclays reduced their price objective on Garmin from $240.00 to $238.00 and set an “equal weight” rating for the company in a research report on Thursday, April 30th. Morgan Stanley set a $249.00 price objective on Garmin in a research report on Thursday, April 30th. Zacks Research downgraded Garmin from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 1st. JPMorgan Chase & Co. raised their price objective on Garmin from $265.00 to $285.00 and gave the stock a “neutral” rating in a research report on Thursday, April 16th. Finally, Tigress Financial raised their target price on Garmin from $320.00 to $325.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, May 20th. One 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. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $269.40.

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.