Garmin Ltd. $GRMN Stake Increased by BLI Banque de Luxembourg Investments

BLI Banque de Luxembourg Investments increased its holdings in shares of Garmin Ltd. (NYSE:GRMN) by 28.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,000 shares of the scientific and technical instruments company’s stock after buying an additional 4,200 shares during the quarter. BLI Banque de Luxembourg Investments’ holdings in Garmin were worth $3,897,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. Torren Management LLC acquired a new stake in Garmin during the 4th quarter worth about $41,000. GraniteShares Advisors LLC acquired a new stake in shares of Garmin during the fourth quarter worth approximately $41,000. Elyxium Wealth LLC acquired a new stake in shares of Garmin during the fourth quarter worth approximately $60,000. State of Wyoming grew its position in Garmin by 26.2% during the fourth quarter. State of Wyoming now owns 352 shares of the scientific and technical instruments company’s stock valued at $71,000 after purchasing an additional 73 shares in the last quarter. Finally, Camelot Portfolios LLC purchased a new position in Garmin during the fourth quarter valued at approximately $81,000. 81.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have issued reports on GRMN. Barclays cut their target price on shares of Garmin from $240.00 to $238.00 and set an “equal weight” rating for the company in a research report on Thursday, April 30th. Zacks Research cut shares of Garmin from a “strong-buy” rating to a “hold” rating in a report on Friday, May 1st. Wall Street Zen raised shares of Garmin from a “hold” rating to a “buy” rating in a research note on Saturday. 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 report on Wednesday, May 20th. Finally, JPMorgan Chase & Co. boosted their target price on Garmin from $265.00 to $285.00 and gave the company a “neutral” rating in a research note on Thursday, April 16th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $269.40.

Garmin Stock Up 1.1%

GRMN stock opened at $237.86 on Wednesday. The firm has a 50 day moving average of $244.76 and a two-hundred day moving average of $226.09. 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 $45.87 billion, a price-to-earnings ratio of 26.52, a P/E/G ratio of 2.78 and a beta of 0.91.

Garmin (NYSE:GRMN) last released its quarterly earnings results on Wednesday, April 29th. The scientific and technical instruments company reported $2.08 earnings per share 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 business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter last year, the firm earned $1.61 EPS. Garmin’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. On average, research analysts expect that Garmin Ltd. will post 9.53 EPS for the current fiscal year.

Insider Buying and Selling at Garmin

In other news, CFO Douglas G. Boessen sold 2,000 shares of the company’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $237.91, for a total transaction of $475,820.00. Following the completion of the sale, the chief financial officer owned 26,049 shares in the company, valued at approximately $6,197,317.59. This represents a 7.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Joseph J. Hartnett sold 643 shares of the stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $263.57, for a total value of $169,475.51. Following the transaction, the director directly owned 21,277 shares in the company, valued at approximately $5,607,978.89. This represents a 2.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 19.54% of the company’s stock.

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.