Garmin Ltd. $GRMN Shares Sold by Artisan Partners Limited Partnership

Artisan Partners Limited Partnership cut its stake in shares of Garmin Ltd. (NYSE:GRMN) by 2.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 5,699,823 shares of the scientific and technical instruments company’s stock after selling 130,078 shares during the period. Garmin accounts for about 1.7% of Artisan Partners Limited Partnership’s portfolio, making the stock its 14th largest position. Artisan Partners Limited Partnership’s holdings in Garmin were worth $1,156,209,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Atlas Capital Advisors Inc. acquired a new stake in Garmin in the 4th quarter valued at about $34,000. GraniteShares Advisors LLC acquired a new stake in Garmin in the 4th quarter valued at about $41,000. Torren Management LLC acquired a new stake in Garmin in the 4th quarter valued at about $41,000. Itau Unibanco Holding S.A. grew its stake in Garmin by 23.0% in the 4th quarter. Itau Unibanco Holding S.A. now owns 283 shares of the scientific and technical instruments company’s stock valued at $57,000 after acquiring an additional 53 shares during the last quarter. Finally, Elyxium Wealth LLC acquired a new stake in Garmin in the 4th quarter valued at about $60,000. 81.60% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Wall Street Zen raised shares of Garmin from a “hold” rating to a “buy” rating in a research note on Saturday, June 6th. Zacks Research cut shares of 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 objective on shares of Garmin in a research note on Thursday, April 30th. JPMorgan Chase & Co. increased their price objective 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. Finally, Tigress Financial increased their price objective on shares of Garmin from $320.00 to $325.00 and gave the company 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 stock. Based on data from MarketBeat, Garmin presently has a consensus rating of “Moderate Buy” and an average price target of $269.40.

Insider Transactions at Garmin

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 shares were sold at an average price of $237.91, for a total value of $475,820.00. Following the transaction, the chief financial officer directly owned 26,049 shares in the company, valued at approximately $6,197,317.59. This represents a 7.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 transaction, the director owned 21,277 shares in the company, valued at approximately $5,607,978.89. The trade was a 2.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 19.54% of the stock is currently owned by corporate insiders.

Garmin Trading Down 1.1%

NYSE:GRMN opened at $235.45 on Wednesday. The firm has a market cap of $45.41 billion, a price-to-earnings ratio of 26.25, a price-to-earnings-growth ratio of 2.81 and a beta of 0.91. The company’s 50-day moving average is $245.00 and its two-hundred day moving average is $227.66. Garmin Ltd. has a 12-month low of $186.67 and a 12-month high of $273.32.

Garmin (NYSE:GRMN) last released its earnings results on Wednesday, April 29th. The scientific and technical instruments company reported $2.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.84 by $0.24. The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.72 billion. Garmin had a net margin of 23.26% and a return on equity of 20.07%. The firm’s quarterly revenue was up 14.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.61 EPS. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. On average, equities research analysts forecast that Garmin Ltd. will post 9.53 earnings per share for the current fiscal year.

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.