Amova Asset Management Americas Inc. Grows Stock Holdings in Garmin Ltd. $GRMN

Amova Asset Management Americas Inc. raised its position in Garmin Ltd. (NYSE:GRMN) by 25.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 51,774 shares of the scientific and technical instruments company’s stock after purchasing an additional 10,667 shares during the period. Amova Asset Management Americas Inc.’s holdings in Garmin were worth $10,502,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Brighton Jones LLC lifted its holdings in shares of Garmin by 31.3% during the 4th quarter. Brighton Jones LLC now owns 1,943 shares of the scientific and technical instruments company’s stock worth $401,000 after acquiring an additional 463 shares during the last quarter. NewEdge Advisors LLC lifted its holdings in shares of Garmin by 6.2% during the 1st quarter. NewEdge Advisors LLC now owns 5,885 shares of the scientific and technical instruments company’s stock worth $1,278,000 after acquiring an additional 345 shares during the last quarter. Woodline Partners LP lifted its holdings in shares of Garmin by 40.6% during the 1st quarter. Woodline Partners LP now owns 13,017 shares of the scientific and technical instruments company’s stock worth $2,826,000 after acquiring an additional 3,757 shares during the last quarter. Focus Partners Wealth lifted its holdings in shares of Garmin by 51.1% during the 1st quarter. Focus Partners Wealth now owns 6,811 shares of the scientific and technical instruments company’s stock worth $1,479,000 after acquiring an additional 2,304 shares during the last quarter. Finally, Sivia Capital Partners LLC lifted its holdings in shares of Garmin by 17.0% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,662 shares of the scientific and technical instruments company’s stock worth $347,000 after acquiring an additional 242 shares during the last quarter. 81.60% of the stock is owned by institutional investors.

Garmin Price Performance

GRMN stock opened at $237.86 on Wednesday. Garmin Ltd. has a 1 year low of $186.67 and a 1 year high of $273.32. The company has a market cap of $45.87 billion, a P/E ratio of 26.52, a PEG ratio of 2.78 and a beta of 0.91. The firm has a 50-day moving average of $244.76 and a 200 day moving average of $226.09.

Garmin (NYSE:GRMN) last announced its quarterly earnings data 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 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 analysts’ expectations of $1.72 billion. During the same quarter in the prior year, the company earned $1.61 earnings per share. The business’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. On average, equities research analysts expect that Garmin Ltd. will post 9.53 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Douglas G. Boessen sold 2,000 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $237.91, for a total transaction of $475,820.00. Following the transaction, 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joseph J. Hartnett sold 643 shares of the stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $263.57, for a total transaction of $169,475.51. Following the transaction, the director owned 21,277 shares in the company, valued at approximately $5,607,978.89. This trade represents a 2.93% decrease in their position. The disclosure for this sale is available in the SEC filing. 19.54% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Morgan Stanley set a $249.00 price objective on shares of Garmin in a report on Thursday, April 30th. Wall Street Zen raised shares of Garmin from a “hold” rating to a “buy” rating in a research note on Saturday. Tigress Financial boosted their price target on shares of Garmin from $320.00 to $325.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, May 20th. Barclays lowered their price target on shares of Garmin from $240.00 to $238.00 and set an “equal weight” rating for the company in a research note on Thursday, April 30th. Finally, Zacks Research downgraded shares of Garmin from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $269.40.

About Garmin

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.