Hsbc Holdings PLC Decreases Position in Garmin Ltd. $GRMN

Hsbc Holdings PLC lessened its position in Garmin Ltd. (NYSE:GRMN) by 25.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 71,272 shares of the scientific and technical instruments company’s stock after selling 24,120 shares during the period. Hsbc Holdings PLC’s holdings in Garmin were worth $14,521,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in GRMN. State Street Corp boosted its stake in Garmin by 1.8% during the 3rd quarter. State Street Corp now owns 7,250,844 shares of the scientific and technical instruments company’s stock valued at $1,785,304,000 after purchasing an additional 126,677 shares during the last quarter. Norges Bank purchased a new stake in shares of Garmin during the fourth quarter valued at $395,234,000. Northern Trust Corp boosted its position in shares of Garmin by 3.8% during the fourth quarter. Northern Trust Corp now owns 1,719,677 shares of the scientific and technical instruments company’s stock valued at $348,836,000 after buying an additional 63,283 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Garmin by 6.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,591,369 shares of the scientific and technical instruments company’s stock worth $322,837,000 after buying an additional 96,850 shares in the last quarter. Finally, Disciplined Growth Investors Inc. MN increased its holdings in Garmin by 0.4% in the 2nd 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 in the last quarter. Hedge funds and other institutional investors own 81.60% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on GRMN shares. JPMorgan Chase & Co. upped their target price on shares of Garmin from $265.00 to $285.00 and gave the company a “neutral” rating in a research note on Thursday, April 16th. Morgan Stanley set a $249.00 price target on shares of Garmin in a research note on Thursday, April 30th. Tigress Financial boosted their price objective on shares of Garmin from $320.00 to $325.00 and gave the company a “strong-buy” rating in a report on Wednesday, May 20th. Wall Street Zen downgraded shares of Garmin from a “buy” rating to a “hold” rating in a research report on Saturday, June 20th. Finally, Barclays dropped their target price on shares of Garmin from $240.00 to $238.00 and set an “equal weight” rating on the stock in a report on Thursday, April 30th. One investment 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. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $269.40.

Garmin Stock Up 1.4%

Garmin stock opened at $248.76 on Wednesday. The business has a 50-day simple moving average of $238.42 and a two-hundred day simple moving average of $231.37. The company has a market cap of $47.98 billion, a P/E ratio of 27.73, a P/E/G ratio of 2.90 and a beta of 0.90. Garmin Ltd. has a 52-week low of $186.67 and a 52-week high of $273.32.

Garmin (NYSE:GRMN) last issued its quarterly earnings data on Wednesday, April 29th. The scientific and technical instruments company reported $2.08 earnings per share 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 for the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter in the prior year, the business earned $1.61 EPS. The business’s quarterly revenue was up 14.0% on a year-over-year basis. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. Research analysts anticipate that Garmin Ltd. will post 9.53 EPS for the current fiscal year.

Insiders Place Their Bets

In other Garmin 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 value of $475,820.00. Following the completion of the sale, the chief financial officer owned 26,049 shares in the company, valued at $6,197,317.59. This represents a 7.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Joseph J. Hartnett sold 643 shares of the company’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $263.57, for a total value of $169,475.51. Following the completion of the sale, the director owned 21,277 shares of the company’s stock, valued at approximately $5,607,978.89. The trade was a 2.93% decrease in their position. The SEC filing for this sale provides additional information. 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.