Garmin Ltd. $GRMN Shares Sold by Andra AP fonden

Andra AP fonden lowered its position in shares of Garmin Ltd. (NYSE:GRMN) by 7.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 93,356 shares of the scientific and technical instruments company’s stock after selling 7,744 shares during the quarter. Andra AP fonden’s holdings in Garmin were worth $21,660,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of GRMN. GSA Capital Partners LLP acquired a new position in shares of Garmin during the 4th quarter worth about $979,000. Diversified Trust Co. grew its position 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 acquiring an additional 4,551 shares during the period. DB Fitzpatrick & Co Inc bought a new stake in Garmin during the 4th quarter worth approximately $1,439,000. Nordea Investment Management AB increased its holdings in shares of Garmin by 12.0% in 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 in the last quarter. Finally, Commerzbank Aktiengesellschaft FI raised its holdings in Garmin by 282.5% during the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 6,518 shares of the scientific and technical instruments company’s stock worth $1,322,000 after purchasing an additional 4,814 shares during the last quarter. 81.60% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Tigress Financial lifted their price objective on shares of Garmin from $320.00 to $325.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, May 20th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Garmin in a research note on Monday, June 8th. Morgan Stanley set a $249.00 target price on Garmin in a report on Thursday, April 30th. JPMorgan Chase & Co. increased 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. Finally, Barclays decreased their target price on Garmin from $240.00 to $238.00 and set an “equal weight” rating on the stock in a report on Thursday, April 30th. One 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, Garmin currently has a consensus rating of “Moderate Buy” and a consensus price target of $269.40.

Insider Buying and Selling

In other 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 value of $475,820.00. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joseph J. Hartnett sold 643 shares of the business’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 completion of the sale, the director owned 21,277 shares of the company’s stock, valued at approximately $5,607,978.89. This trade represents a 2.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 14.80% of the stock is currently owned by insiders.

Garmin Stock Performance

GRMN stock opened at $245.23 on Tuesday. Garmin Ltd. has a 52 week low of $186.67 and a 52 week high of $273.32. The company has a market capitalization of $47.30 billion, a PE ratio of 27.34, a price-to-earnings-growth ratio of 2.95 and a beta of 0.90. The company’s 50-day simple moving average is $238.23 and its 200 day simple moving average is $233.94.

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 for the quarter, topping the consensus estimate of $1.84 by $0.24. The business had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.72 billion. Garmin had a net margin of 23.26% and a return on equity of 20.07%. The business’s revenue was up 14.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.61 EPS. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. On average, analysts forecast that Garmin Ltd. will post 9.53 EPS for the current year.

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.