Andra AP fonden Acquires 85,187 Shares of Garmin Ltd. $GRMN

Andra AP fonden increased its holdings in Garmin Ltd. (NYSE:GRMN) by 535.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 101,100 shares of the scientific and technical instruments company’s stock after purchasing an additional 85,187 shares during the period. Andra AP fonden owned approximately 0.05% of Garmin worth $20,508,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Torren Management LLC bought a new stake in Garmin during the fourth quarter valued at about $41,000. GraniteShares Advisors LLC bought a new stake in Garmin during the fourth quarter valued at about $41,000. Elyxium Wealth LLC bought a new stake in Garmin during the fourth quarter valued at about $60,000. State of Wyoming boosted its holdings 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 acquiring an additional 73 shares during the period. Finally, Camelot Portfolios LLC bought a new stake in Garmin during the fourth quarter valued at about $81,000. 81.60% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CFO Douglas G. Boessen sold 2,000 shares of the stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $237.91, for a total value of $475,820.00. Following the completion of the transaction, the chief financial officer owned 26,049 shares of the company’s stock, valued at $6,197,317.59. This represents a 7.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Joseph J. Hartnett sold 643 shares of the stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $263.57, for a total transaction of $169,475.51. Following the completion of the transaction, the director directly owned 21,277 shares of the company’s stock, valued at $5,607,978.89. This trade represents a 2.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 15.38% of the company’s stock.

Garmin Stock Performance

Shares of GRMN opened at $238.58 on Friday. The company has a 50-day simple moving average of $245.01 and a 200-day simple moving average of $226.73. The firm has a market capitalization of $46.01 billion, a P/E ratio of 26.60, a P/E/G ratio of 2.74 and a beta of 0.91. Garmin Ltd. has a 52 week low of $186.67 and a 52 week high of $273.32.

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, topping the consensus estimate of $1.84 by $0.24. Garmin had a net margin of 23.26% and a return on equity of 20.07%. The firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.72 billion. During the same quarter in the prior year, the business posted $1.61 earnings per share. The company’s quarterly revenue was up 14.0% compared to the same quarter last year. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. As a group, equities analysts forecast that Garmin Ltd. will post 9.53 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on GRMN shares. Zacks Research cut shares of Garmin from a “strong-buy” rating to a “hold” rating in a report on Friday, May 1st. Weiss Ratings restated a “buy (b)” rating on shares of Garmin in a report on Monday. JPMorgan Chase & Co. upped their price target on shares of Garmin from $265.00 to $285.00 and gave the company a “neutral” rating in a report on Thursday, April 16th. Wall Street Zen upgraded shares of Garmin from a “hold” rating to a “buy” rating in a report on Saturday, June 6th. Finally, Barclays decreased their price target on shares of Garmin from $240.00 to $238.00 and set an “equal weight” rating for the company in a report on Thursday, April 30th. One research 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 company’s stock. Based on data from MarketBeat.com, Garmin presently has a consensus rating of “Moderate Buy” and a consensus price target 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.