Garmin Ltd. $GRMN Shares Bought by Azzad Asset Management Inc. ADV

Azzad Asset Management Inc. ADV grew its holdings in Garmin Ltd. (NYSE:GRMN) by 24.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,660 shares of the scientific and technical instruments company’s stock after buying an additional 3,910 shares during the quarter. Azzad Asset Management Inc. ADV’s holdings in Garmin were worth $4,561,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in GRMN. Resonant Capital Advisors LLC acquired a new stake in Garmin in the 1st quarter valued at $217,000. Unison Advisors LLC raised its position in Garmin by 0.4% during the first quarter. Unison Advisors LLC now owns 28,461 shares of the scientific and technical instruments company’s stock worth $6,603,000 after acquiring an additional 120 shares during the period. Kiley Juergens Wealth Management LLC acquired a new position in Garmin during the first quarter worth $257,000. PUREfi Wealth LLC purchased a new position in Garmin during the first quarter valued at $343,000. Finally, Ascentis Independent Advisors acquired a new stake in shares of Garmin in the first quarter valued at about $49,000. 81.60% of the stock is owned by institutional investors and hedge funds.

Garmin Stock Up 0.3%

NYSE GRMN opened at $244.25 on Friday. Garmin Ltd. has a 52 week low of $186.67 and a 52 week high of $273.32. The business’s fifty day simple moving average is $238.07 and its 200-day simple moving average is $231.97. The firm has a market cap of $47.11 billion, a PE ratio of 27.23, a P/E/G ratio of 2.88 and a beta of 0.90.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $1.84 by $0.24. Garmin had a net margin of 23.26% and a return on equity of 20.07%. The firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.72 billion. During the same quarter in the prior year, the firm posted $1.61 earnings per share. Garmin’s quarterly revenue was up 14.0% on a year-over-year basis. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. Research analysts expect that Garmin Ltd. will post 9.53 EPS for the current year.

Insider Activity at Garmin

In other news, Director Joseph J. Hartnett sold 643 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $263.57, for a total value of $169,475.51. Following the transaction, the director directly 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 legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Douglas G. Boessen sold 2,000 shares of the firm’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $237.91, for a total value of $475,820.00. Following the transaction, the chief financial officer owned 26,049 shares of the company’s stock, valued at $6,197,317.59. This trade represents a 7.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 15.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Zacks Research cut shares of Garmin from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. Barclays lowered their price objective on Garmin from $240.00 to $238.00 and set an “equal weight” rating on the stock in a report on Thursday, April 30th. Tigress Financial boosted 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. Wall Street Zen cut Garmin from a “buy” rating to a “hold” rating in a report on Saturday, June 20th. Finally, JPMorgan Chase & Co. raised their target price on Garmin from $265.00 to $285.00 and gave the company a “neutral” rating in a research report on Thursday, April 16th. One investment 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 stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $269.40.

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.