BNP Paribas Financial Markets Boosts Stock Holdings in Garmin Ltd. $GRMN

BNP Paribas Financial Markets boosted its position in shares of Garmin Ltd. (NYSE:GRMN) by 40.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 298,186 shares of the scientific and technical instruments company’s stock after buying an additional 85,259 shares during the period. BNP Paribas Financial Markets owned 0.16% of Garmin worth $60,487,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Cornerstone Planning Group LLC boosted its holdings in shares of Garmin by 788.9% during the 3rd quarter. Cornerstone Planning Group LLC now owns 160 shares of the scientific and technical instruments company’s stock worth $39,000 after purchasing an additional 142 shares during the last quarter. Torren Management LLC acquired a new position in shares of Garmin during the 4th quarter worth approximately $41,000. GraniteShares Advisors LLC acquired a new position in shares of Garmin during the 4th quarter worth approximately $41,000. Elyxium Wealth LLC acquired a new position in shares of Garmin during the 4th quarter worth approximately $60,000. Finally, Camelot Portfolios LLC acquired a new position in shares of Garmin during the 4th quarter worth approximately $81,000. 81.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Barclays lowered 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. 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. JPMorgan Chase & Co. boosted their target price on Garmin from $265.00 to $285.00 and gave the stock a “neutral” rating in a report on Thursday, April 16th. Zacks Research cut Garmin from a “strong-buy” rating to a “hold” rating in a report on Friday, May 1st. Finally, Morgan Stanley set a $249.00 target price on Garmin in a report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $269.40.

Garmin Stock Performance

GRMN opened at $240.84 on Wednesday. The stock has a market capitalization of $46.45 billion, a PE ratio of 26.85, a P/E/G ratio of 2.80 and a beta of 0.91. Garmin Ltd. has a one year low of $186.67 and a one year high of $273.32. The business’s 50 day moving average price is $244.60 and its 200 day moving average price is $224.15.

Garmin (NYSE:GRMN) last announced 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 company had revenue of $1.75 billion for 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 firm’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.61 earnings per share. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. As a group, equities research analysts forecast that Garmin Ltd. will post 9.53 earnings per share for the current fiscal year.

Garmin 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.