Faithward Advisors LLC Buys 2,356 Shares of Garmin Ltd. $GRMN

Faithward Advisors LLC raised its stake in Garmin Ltd. (NYSE:GRMN) by 69.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,760 shares of the scientific and technical instruments company’s stock after purchasing an additional 2,356 shares during the period. Faithward Advisors LLC’s holdings in Garmin were worth $1,336,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. GSA Capital Partners LLP bought a new stake in shares of Garmin during the fourth quarter worth approximately $979,000. ARK Investment Management LLC increased its stake in shares of Garmin by 10.9% during the third quarter. ARK Investment Management LLC now owns 28,925 shares of the scientific and technical instruments company’s stock worth $7,122,000 after purchasing an additional 2,852 shares during the period. Diversified Trust Co. increased its stake in shares of Garmin by 123.1% during the fourth quarter. Diversified Trust Co. now owns 8,248 shares of the scientific and technical instruments company’s stock worth $1,673,000 after purchasing an additional 4,551 shares during the period. DB Fitzpatrick & Co Inc acquired a new stake in Garmin during the 4th quarter worth approximately $1,439,000. Finally, DNB Asset Management AS lifted its holdings in Garmin by 6.8% during the 3rd quarter. DNB Asset Management AS now owns 32,438 shares of the scientific and technical instruments company’s stock worth $7,987,000 after purchasing an additional 2,060 shares during the last quarter. 81.60% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on GRMN. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Garmin in a report on Monday, June 8th. Wall Street Zen downgraded Garmin from a “buy” rating to a “hold” rating in a report on Saturday. Barclays reduced 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 report on Thursday, April 30th. Morgan Stanley set a $249.00 price target on shares of Garmin in a research note on Thursday, April 30th. Finally, JPMorgan Chase & Co. raised their price target on shares of Garmin from $265.00 to $285.00 and gave the stock a “neutral” rating in a research report on Thursday, April 16th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $269.40.

Garmin Price Performance

Shares of NYSE:GRMN opened at $236.64 on Wednesday. The company has a market capitalization of $45.64 billion, a P/E ratio of 26.38, a P/E/G ratio of 2.79 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 business’s 50 day simple moving average is $243.46 and its 200 day simple moving average is $228.99.

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 the consensus estimate of $1.84 by $0.24. The firm had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.72 billion. Garmin had a return on equity of 20.07% and a net margin of 23.26%.The company’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.61 EPS. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. On average, sell-side analysts anticipate that Garmin Ltd. will post 9.53 EPS for the current fiscal year.

Insider Transactions at Garmin

In related 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 transaction of $475,820.00. Following the completion of the sale, the chief financial officer owned 26,049 shares of the company’s stock, valued at $6,197,317.59. This represents a 7.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 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 sale, the director owned 21,277 shares in the company, valued at $5,607,978.89. The trade was a 2.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 19.54% of the stock is owned by insiders.

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.