Intech Investment Management LLC Purchases 16,447 Shares of Garmin Ltd. $GRMN

Intech Investment Management LLC lifted its position in Garmin Ltd. (NYSE:GRMN) by 144.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 27,839 shares of the scientific and technical instruments company’s stock after acquiring an additional 16,447 shares during the period. Intech Investment Management LLC’s holdings in Garmin were worth $5,647,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in GRMN. Alliancebernstein L.P. raised its position in shares of Garmin by 649.2% in the 3rd quarter. Alliancebernstein L.P. now owns 1,256,668 shares of the scientific and technical instruments company’s stock worth $309,417,000 after acquiring an additional 1,088,938 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Garmin by 2.5% in the 3rd quarter. Vanguard Group Inc. now owns 20,197,564 shares of the scientific and technical instruments company’s stock worth $4,973,044,000 after acquiring an additional 499,235 shares in the last quarter. KBC Group NV raised its position in shares of Garmin by 113.6% in the 4th quarter. KBC Group NV now owns 561,291 shares of the scientific and technical instruments company’s stock worth $113,859,000 after acquiring an additional 298,462 shares in the last quarter. Lazard Asset Management LLC raised its position in shares of Garmin by 530.5% in the 3rd quarter. Lazard Asset Management LLC now owns 351,690 shares of the scientific and technical instruments company’s stock worth $86,593,000 after acquiring an additional 295,914 shares in the last quarter. Finally, Man Group plc raised its position in shares of Garmin by 302.5% in the 3rd quarter. Man Group plc now owns 244,679 shares of the scientific and technical instruments company’s stock worth $60,245,000 after acquiring an additional 183,889 shares in the last quarter. Institutional investors own 81.60% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on GRMN. 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 boosted their target price on Garmin from $320.00 to $325.00 and gave the stock a “strong-buy” rating in a report on Wednesday, May 20th. Zacks Research downgraded Garmin from a “strong-buy” rating to a “hold” rating in a report on Friday, May 1st. Morgan Stanley set a $249.00 target price on Garmin in a report on Thursday, April 30th. Finally, Barclays dropped their target price on Garmin from $240.00 to $238.00 and set an “equal weight” rating on the stock in a report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $269.40.

Garmin Trading Up 0.0%

Garmin stock opened at $234.00 on Monday. The business’s fifty day simple moving average is $244.55 and its two-hundred day simple moving average is $223.89. Garmin Ltd. has a 12 month low of $186.67 and a 12 month high of $273.32. The company has a market capitalization of $45.13 billion, a price-to-earnings ratio of 26.09, a price-to-earnings-growth ratio of 2.76 and a beta of 0.91.

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 analysts’ consensus estimates of $1.84 by $0.24. The business 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%.The company’s quarterly revenue was up 14.0% compared to the same quarter last year. 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. On average, equities research analysts predict that Garmin Ltd. will post 9.53 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.