Garmin Ltd. $GRMN Shares Sold by Keybank National Association OH

Keybank National Association OH lowered its holdings in Garmin Ltd. (NYSE:GRMN) by 51.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,588 shares of the scientific and technical instruments company’s stock after selling 2,714 shares during the period. Keybank National Association OH’s holdings in Garmin were worth $600,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Reflection Asset Management purchased a new stake in Garmin during the 4th quarter worth $32,000. Atlas Capital Advisors Inc. purchased a new position in Garmin in the fourth quarter valued at about $34,000. Torren Management LLC acquired a new position in shares of Garmin during the fourth quarter worth about $41,000. GraniteShares Advisors LLC purchased a new stake in shares of Garmin in the fourth quarter worth about $41,000. Finally, SHP Wealth Management purchased a new stake in shares of Garmin in the fourth quarter worth about $44,000. Hedge funds and other institutional investors own 81.60% of the company’s stock.

Garmin Stock Down 1.9%

Shares of GRMN opened at $244.00 on Thursday. The firm has a market cap of $47.06 billion, a price-to-earnings ratio of 27.20, a PEG ratio of 2.94 and a beta of 0.90. The business’s 50 day moving average is $238.15 and its two-hundred day moving average is $231.66. Garmin Ltd. has a 52-week low of $186.67 and a 52-week high of $273.32.

Garmin (NYSE:GRMN) last released its quarterly earnings results on Wednesday, April 29th. The scientific and technical instruments company reported $2.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.84 by $0.24. The business had revenue of $1.75 billion during the quarter, compared to the consensus estimate 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 quarter last year, the company earned $1.61 earnings per share. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. On average, equities analysts expect that Garmin Ltd. will post 9.53 earnings per share for the current fiscal year.

Key Stories Impacting Garmin

Here are the key news stories impacting Garmin this week:

• Positive Sentiment: Garmin unveiled AXIS, a new family of highly integrated flight displays that combines flight display, IFR GPS, NAV/COMM and audio panel functions into one system, expanding its avionics offering and potentially opening new sales opportunities. Garmin unveils AXIS, a new generation of highly integrated flight displays
• Positive Sentiment: Garmin also launched LiveScope 2 for its marine business, with improved sonar clarity, range and easier installation, reinforcing momentum in one of its faster-growing consumer categories. Garmin launches LiveScope 2, its clearest live sonar yet
• Positive Sentiment: Several articles framed Garmin’s recent aviation and marine updates as strengthening its investment case, suggesting the company continues to innovate and may sustain demand beyond its core fitness products. Garmin (GRMN) Launches New Aviation And Marine Platforms, Is It Still Below Fair Value?

Insiders Place Their Bets

In other news, Director Joseph J. Hartnett sold 643 shares of the company’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $263.57, for a total value of $169,475.51. Following the sale, the director owned 21,277 shares in the company, valued at approximately $5,607,978.89. This represents a 2.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Douglas G. Boessen sold 2,000 shares of the stock in a transaction dated Friday, June 5th. The stock was 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 position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 15.38% of the company’s stock.

Analyst Upgrades and Downgrades

GRMN has been the topic of several recent research reports. Wall Street Zen lowered Garmin from a “buy” rating to a “hold” rating in a research report on Saturday, June 20th. Barclays dropped their price objective on shares of Garmin from $240.00 to $238.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 30th. Tigress Financial boosted their target price on shares of Garmin from $320.00 to $325.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, May 20th. 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 research note on Thursday, April 16th. Finally, Morgan Stanley set a $249.00 price target on shares of Garmin in a report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, Garmin presently has a consensus rating of “Moderate Buy” and an average price target of $269.40.

Garmin Company 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.