Bowen Hanes & Co. Inc. Sells 189,900 Shares of Garmin Ltd. $GRMN

Bowen Hanes & Co. Inc. cut its holdings in Garmin Ltd. (NYSE:GRMN) by 89.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,535 shares of the scientific and technical instruments company’s stock after selling 189,900 shares during the period. Bowen Hanes & Co. Inc.’s holdings in Garmin were worth $4,774,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. CIBC Asset Management Inc raised its position in shares of Garmin by 103.0% in the 4th quarter. CIBC Asset Management Inc now owns 33,568 shares of the scientific and technical instruments company’s stock worth $6,809,000 after acquiring an additional 17,030 shares in the last quarter. Goldman Sachs Group Inc. increased its position in Garmin by 32.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,289,156 shares of the scientific and technical instruments company’s stock valued at $261,505,000 after buying an additional 315,163 shares in the last quarter. Beto Financial Group LLC bought a new stake in Garmin in the 4th quarter valued at about $296,000. AXQ Capital LP bought a new stake in Garmin in the 4th quarter valued at about $960,000. Finally, Crestmont Private Wealth LLC increased its position in Garmin by 11.6% in the 4th quarter. Crestmont Private Wealth LLC now owns 1,215 shares of the scientific and technical instruments company’s stock valued at $246,000 after buying an additional 126 shares in the last quarter. 81.60% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on GRMN. 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 report on Thursday, April 16th. Barclays decreased their target price on Garmin from $240.00 to $238.00 and set an “equal weight” rating for the company in a research report on Thursday, April 30th. Tigress Financial boosted their target price on Garmin from $320.00 to $325.00 and gave the company a “strong-buy” rating in a research report on Wednesday, May 20th. Morgan Stanley set a $249.00 target price on Garmin in a research report on Thursday, April 30th. Finally, Zacks Research lowered Garmin from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have assigned a Hold rating to the 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 Stock Down 1.4%

Shares of NYSE GRMN opened at $237.72 on Thursday. Garmin Ltd. has a twelve month low of $186.67 and a twelve month high of $273.32. The stock’s 50 day moving average price is $244.75 and its 200-day moving average price is $224.75. The company has a market capitalization of $45.85 billion, a PE ratio of 26.50, a PEG ratio of 2.85 and a beta of 0.91.

Garmin (NYSE:GRMN) last announced its earnings results on Wednesday, April 29th. The scientific and technical instruments company reported $2.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.84 by $0.24. Garmin had a return on equity of 20.07% and a net margin of 23.26%.The firm had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter in the previous year, the business earned $1.61 EPS. The company’s 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, research analysts expect that Garmin Ltd. will post 9.53 EPS for the current fiscal year.

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.