AXQ Capital LP Makes New $960,000 Investment in Garmin Ltd. $GRMN

AXQ Capital LP acquired a new position in shares of Garmin Ltd. (NYSE:GRMN) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 4,734 shares of the scientific and technical instruments company’s stock, valued at approximately $960,000.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Garmin by 2.5% during the third 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 buying an additional 499,235 shares during the last quarter. State Street Corp grew its holdings in shares of Garmin by 1.8% during the third quarter. State Street Corp now owns 7,250,844 shares of the scientific and technical instruments company’s stock worth $1,785,304,000 after buying an additional 126,677 shares during the last quarter. Norges Bank purchased a new position in shares of Garmin during the fourth quarter worth about $395,234,000. Dimensional Fund Advisors LP grew its holdings in shares of Garmin by 1.1% during the third quarter. Dimensional Fund Advisors LP now owns 1,494,519 shares of the scientific and technical instruments company’s stock worth $367,964,000 after buying an additional 16,622 shares during the last quarter. Finally, Disciplined Growth Investors Inc. MN grew its holdings in shares of Garmin by 0.4% during the second quarter. Disciplined Growth Investors Inc. MN now owns 1,419,365 shares of the scientific and technical instruments company’s stock worth $296,250,000 after buying an additional 5,213 shares during the last quarter. Hedge funds and other institutional investors own 81.60% of the company’s stock.

Garmin Trading Up 1.7%

GRMN stock opened at $240.84 on Wednesday. The firm has a 50 day moving average of $244.60 and a 200-day moving average of $224.15. Garmin Ltd. has a 12-month low of $186.67 and a 12-month high of $273.32. The company has a market cap of $46.45 billion, a price-to-earnings ratio of 26.85, a PEG ratio of 2.80 and a beta of 0.91.

Garmin (NYSE:GRMN) last posted 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 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 company had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.72 billion. During the same period last year, the firm earned $1.61 EPS. The company’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. Sell-side analysts forecast that Garmin Ltd. will post 9.53 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on GRMN shares. Zacks Research lowered Garmin from a “strong-buy” rating to a “hold” rating in a report on Friday, May 1st. Tigress Financial lifted their price objective on Garmin from $320.00 to $325.00 and gave the company a “strong-buy” rating in a report on Wednesday, May 20th. Barclays lowered their price objective on Garmin from $240.00 to $238.00 and set an “equal weight” rating on the stock in a report on Thursday, April 30th. Morgan Stanley set a $249.00 price objective on Garmin in a report on Thursday, April 30th. Finally, JPMorgan Chase & Co. lifted their price objective on Garmin from $265.00 to $285.00 and gave the company a “neutral” rating in a report on Thursday, April 16th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average 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.