Icon Wealth Advisors LLC Makes New Investment in Garmin Ltd. $GRMN

Icon Wealth Advisors LLC bought a new position in shares of Garmin Ltd. (NYSE:GRMN) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 2,296 shares of the scientific and technical instruments company’s stock, valued at approximately $466,000.

Several other hedge funds and other institutional investors have also made changes to their positions in GRMN. Atlas Capital Advisors Inc. acquired a new position in shares of Garmin during the 4th quarter worth $34,000. GraniteShares Advisors LLC acquired a new position in shares of Garmin during the 4th quarter worth $41,000. Torren Management LLC acquired a new position in shares of Garmin during the 4th quarter worth $41,000. Itau Unibanco Holding S.A. raised its stake in shares of Garmin by 23.0% during the 4th quarter. Itau Unibanco Holding S.A. now owns 283 shares of the scientific and technical instruments company’s stock worth $57,000 after buying an additional 53 shares during the last quarter. Finally, Elyxium Wealth LLC acquired a new position in shares of Garmin during the 4th quarter worth $60,000. Institutional investors and hedge funds own 81.60% of the company’s stock.

Insider Activity

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

Garmin Trading Up 0.1%

Shares of GRMN stock opened at $238.23 on Monday. The firm has a 50-day moving average price of $245.02 and a 200 day moving average price of $227.05. Garmin Ltd. has a twelve month low of $186.67 and a twelve month high of $273.32. The company has a market capitalization of $45.95 billion, a price-to-earnings ratio of 26.56, a PEG ratio of 2.81 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, beating 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 the consensus estimate of $1.72 billion. During the same quarter in the previous year, the company posted $1.61 EPS. The firm’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. As a group, research analysts predict that Garmin Ltd. will post 9.53 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on GRMN shares. Zacks Research downgraded Garmin from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. Morgan Stanley set a $249.00 price target on Garmin in a research note on Thursday, April 30th. JPMorgan Chase & Co. lifted their price target on Garmin from $265.00 to $285.00 and gave the stock a “neutral” rating in a research note on Thursday, April 16th. Wall Street Zen raised Garmin from a “hold” rating to a “buy” rating in a research note on Saturday, June 6th. Finally, Tigress Financial lifted their price target on Garmin from $320.00 to $325.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, May 20th. One investment 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. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $269.40.

Garmin 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.