Rockefeller Capital Management L.P. Grows Stock Holdings in Garmin Ltd. $GRMN

Rockefeller Capital Management L.P. increased its position in shares of Garmin Ltd. (NYSE:GRMN) by 34.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,954 shares of the scientific and technical instruments company’s stock after purchasing an additional 2,281 shares during the period. Rockefeller Capital Management L.P.’s holdings in Garmin were worth $1,816,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of GRMN. Reflection Asset Management purchased a new position in shares of Garmin in the 4th quarter valued at about $32,000. Atlas Capital Advisors Inc. purchased a new stake in Garmin during the fourth quarter worth approximately $34,000. Torren Management LLC acquired a new position in Garmin in the fourth quarter valued at approximately $41,000. GraniteShares Advisors LLC acquired a new position in Garmin in the fourth quarter valued at approximately $41,000. Finally, SHP Wealth Management purchased a new position in Garmin in the fourth quarter valued at approximately $44,000. Hedge funds and other institutional investors own 81.60% of the company’s stock.

Garmin Price Performance

GRMN stock opened at $237.40 on Wednesday. The company has a market cap of $45.79 billion, a price-to-earnings ratio of 26.47, a price-to-earnings-growth ratio of 2.76 and a beta of 0.91. The company has a fifty day moving average price of $240.58 and a 200 day moving average price of $230.13. Garmin Ltd. has a 12 month low of $186.67 and a 12 month high of $273.32.

Garmin (NYSE:GRMN) last issued its quarterly earnings data on Wednesday, April 29th. The scientific and technical instruments company reported $2.08 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.72 billion. During the same period last year, the firm posted $1.61 EPS. Garmin’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, analysts anticipate that Garmin Ltd. will post 9.53 earnings per share for the current year.

Insider Transactions at Garmin

In other news, CFO Douglas G. Boessen sold 2,000 shares of the business’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 in the company, 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 legal filing with the SEC, which is available 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 directly 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. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 19.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on GRMN shares. Morgan Stanley set a $249.00 price objective on shares of Garmin in a report on Thursday, April 30th. JPMorgan Chase & Co. upped their target price on shares of Garmin from $265.00 to $285.00 and gave the company a “neutral” rating in a report on Thursday, April 16th. Tigress Financial increased their target price on shares of Garmin from $320.00 to $325.00 and gave the company a “strong-buy” rating in a research report on Wednesday, May 20th. Wall Street Zen lowered shares of Garmin from a “buy” rating to a “hold” rating in a research note on Saturday, June 20th. Finally, Zacks Research cut shares of Garmin from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target 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.