California Public Employees Retirement System Increases Stock Position in Garmin Ltd. $GRMN

California Public Employees Retirement System increased its position in shares of Garmin Ltd. (NYSE:GRMN) by 12.7% during the 1st quarter, Holdings Channel reports. The firm owned 329,035 shares of the scientific and technical instruments company’s stock after purchasing an additional 37,168 shares during the quarter. California Public Employees Retirement System’s holdings in Garmin were worth $76,339,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the company. GSA Capital Partners LLP purchased a new stake in Garmin during the fourth quarter worth about $979,000. Diversified Trust Co. lifted its stake in Garmin by 123.1% in the fourth quarter. Diversified Trust Co. now owns 8,248 shares of the scientific and technical instruments company’s stock valued at $1,673,000 after purchasing an additional 4,551 shares during the last quarter. DB Fitzpatrick & Co Inc bought a new position in Garmin during the fourth quarter valued at $1,439,000. Nordea Investment Management AB grew its holdings in Garmin by 12.0% during the fourth quarter. Nordea Investment Management AB now owns 93,493 shares of the scientific and technical instruments company’s stock valued at $19,011,000 after purchasing an additional 10,020 shares during the period. Finally, Commerzbank Aktiengesellschaft FI raised its stake in shares of Garmin by 282.5% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 6,518 shares of the scientific and technical instruments company’s stock valued at $1,322,000 after buying an additional 4,814 shares during the period. Institutional investors own 81.60% of the company’s stock.

Garmin Trading Up 0.1%

Shares of NYSE GRMN opened at $249.86 on Monday. The business has a 50-day moving average of $238.18 and a 200-day moving average of $233.65. The firm has a market capitalization of $48.19 billion, a price-to-earnings ratio of 27.85, a PEG ratio of 2.95 and a beta of 0.90. Garmin Ltd. has a 12 month low of $186.67 and a 12 month high of $273.32.

Garmin (NYSE:GRMN) last announced its earnings results on Wednesday, April 29th. The scientific and technical instruments company reported $2.08 earnings per share 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 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. 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. On average, analysts predict 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 company’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $237.91, for a total value of $475,820.00. Following the completion of the transaction, the chief financial officer directly owned 26,049 shares in the company, valued at approximately $6,197,317.59. This represents a 7.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Joseph J. Hartnett sold 643 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $263.57, for a total value of $169,475.51. Following the completion of the sale, the director directly owned 21,277 shares of the company’s stock, valued at approximately $5,607,978.89. This represents a 2.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 14.80% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

GRMN has been the subject of a number of research reports. Zacks Research lowered shares of Garmin from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 1st. JPMorgan Chase & Co. upped their price target 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. Tigress Financial raised their price target on Garmin from $320.00 to $325.00 and gave the stock a “strong-buy” rating in a report on Wednesday, May 20th. Wall Street Zen cut Garmin from a “buy” rating to a “hold” rating in a research report on Saturday, June 20th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Garmin in a research note on Monday, June 8th. 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 company presently has an average rating of “Moderate Buy” and a consensus 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.