Fullerton Fund Management Co Ltd. Acquires New Holdings in Garmin Ltd. $GRMN

Fullerton Fund Management Co Ltd. bought a new stake in Garmin Ltd. (NYSE:GRMN) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 3,375 shares of the scientific and technical instruments company’s stock, valued at approximately $685,000.

Other institutional investors also recently bought and sold shares of the company. Atlas Capital Advisors Inc. acquired a new stake in Garmin in the fourth quarter valued at approximately $34,000. Torren Management LLC acquired a new stake in Garmin in the fourth quarter valued at approximately $41,000. GraniteShares Advisors LLC acquired a new stake in Garmin in the fourth quarter valued at approximately $41,000. Itau Unibanco Holding S.A. boosted its stake in Garmin by 23.0% in the fourth 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 in the last quarter. Finally, Elyxium Wealth LLC acquired a new stake in Garmin in the fourth quarter valued at approximately $60,000. 81.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on GRMN shares. JPMorgan Chase & Co. raised 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. Zacks Research downgraded shares of Garmin from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. Tigress Financial raised their target price 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. Weiss Ratings restated a “buy (b)” rating on shares of Garmin in a research note on Monday, June 8th. Finally, Barclays lowered their target price 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. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $269.40.

Insiders Place Their Bets

In other news, CFO Douglas G. Boessen sold 2,000 shares of the business’s stock in a transaction 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 sale, the chief financial officer directly owned 26,049 shares of the company’s stock, valued at $6,197,317.59. The trade was a 7.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joseph J. Hartnett sold 643 shares of the business’s stock in a transaction 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 of the company’s stock, valued at $5,607,978.89. This represents 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 owned by insiders.

Garmin Price Performance

Shares of GRMN opened at $235.45 on Wednesday. The firm has a market capitalization of $45.41 billion, a PE ratio of 26.25, a price-to-earnings-growth ratio of 2.81 and a beta of 0.91. Garmin Ltd. has a 1-year low of $186.67 and a 1-year high of $273.32. The company’s fifty day moving average price is $245.00 and its 200-day moving average price is $227.66.

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, beating analysts’ consensus estimates of $1.84 by $0.24. The firm 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 business’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.61 earnings per share. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. As a group, research analysts anticipate that Garmin Ltd. will post 9.53 EPS for the current fiscal year.

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.