Louisiana State Employees Retirement System Takes $1.93 Million Position in Garmin Ltd. $GRMN

Louisiana State Employees Retirement System bought a new stake in shares of Garmin Ltd. (NYSE:GRMN) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 8,300 shares of the scientific and technical instruments company’s stock, valued at approximately $1,926,000.

A number of other hedge funds have also recently bought and sold shares of the company. State Street Corp lifted its holdings in Garmin by 1.8% in the 3rd quarter. State Street Corp now owns 7,250,844 shares of the scientific and technical instruments company’s stock valued at $1,785,304,000 after acquiring an additional 126,677 shares during the last quarter. Norges Bank acquired a new position in shares of Garmin in the 4th quarter worth approximately $395,234,000. Northern Trust Corp grew its stake in shares of Garmin by 3.8% in the 4th quarter. Northern Trust Corp now owns 1,719,677 shares of the scientific and technical instruments company’s stock worth $348,836,000 after purchasing an additional 63,283 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Garmin by 6.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,591,369 shares of the scientific and technical instruments company’s stock worth $322,837,000 after purchasing an additional 96,850 shares in the last quarter. Finally, Disciplined Growth Investors Inc. MN raised its holdings in shares of Garmin by 0.4% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 1,419,365 shares of the scientific and technical instruments company’s stock worth $296,250,000 after purchasing an additional 5,213 shares in the last quarter. 81.60% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Zacks Research cut shares of Garmin from a “strong-buy” rating to a “hold” rating in a report on Friday, May 1st. Barclays dropped their price target on Garmin from $240.00 to $238.00 and set an “equal weight” rating on the stock in a report on Thursday, April 30th. JPMorgan Chase & Co. increased their price objective on Garmin from $265.00 to $285.00 and gave the company a “neutral” rating in a research report on Thursday, April 16th. Tigress Financial raised their price objective on Garmin from $320.00 to $325.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, May 20th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Garmin in a report on Monday, June 8th. One investment 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.com, Garmin presently has a consensus rating of “Moderate Buy” and an average price target of $269.40.

Garmin Price Performance

Shares of GRMN opened at $237.40 on Wednesday. Garmin Ltd. has a one year low of $186.67 and a one year high of $273.32. The company has a 50-day moving average of $240.58 and a two-hundred day moving average of $230.13. The stock has a market cap of $45.79 billion, a price-to-earnings ratio of 26.47, a PEG ratio of 2.76 and a beta of 0.91.

Garmin (NYSE:GRMN) last released its earnings results on Wednesday, April 29th. The scientific and technical instruments company reported $2.08 earnings per share 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 business 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 earnings per share. The firm’s quarterly revenue was up 14.0% compared to the same quarter last year. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. Analysts anticipate that Garmin Ltd. will post 9.53 earnings per share for the current year.

Insider Buying and Selling

In other Garmin news, CFO Douglas G. Boessen sold 2,000 shares of Garmin stock in a transaction that occurred 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 transaction, the chief financial officer directly owned 26,049 shares in the company, valued at approximately $6,197,317.59. The trade was a 7.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible 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 sale, the director directly owned 21,277 shares in the company, valued at approximately $5,607,978.89. This trade represents a 2.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 19.54% of the company’s stock.

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.