ABN Amro Investment Solutions Invests $1.87 Million in Garmin Ltd. $GRMN

ABN Amro Investment Solutions bought a new position in Garmin Ltd. (NYSE:GRMN) in the first quarter, HoldingsChannel reports. The fund bought 8,051 shares of the scientific and technical instruments company’s stock, valued at approximately $1,868,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. GSA Capital Partners LLP bought a new stake in shares of Garmin during the 4th quarter valued at about $979,000. DB Fitzpatrick & Co Inc bought a new position in shares of Garmin during the 4th quarter worth approximately $1,439,000. Commerzbank Aktiengesellschaft FI boosted its holdings in shares of 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 buying an additional 4,814 shares in the last quarter. Generali Asset Management SPA SGR grew its position in shares of Garmin by 8,727.4% during the 4th quarter. Generali Asset Management SPA SGR now owns 9,357 shares of the scientific and technical instruments company’s stock worth $1,898,000 after buying an additional 9,251 shares during the period. Finally, Westerkirk Capital Inc. lifted its position in shares of Garmin by 88.2% during the 4th quarter. Westerkirk Capital Inc. now owns 20,700 shares of the scientific and technical instruments company’s stock valued at $4,199,000 after acquiring an additional 9,700 shares during the period. 81.60% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CFO Douglas G. Boessen sold 2,000 shares of the firm’s 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 transaction, the chief financial officer directly owned 26,049 shares of the company’s stock, valued at approximately $6,197,317.59. This trade represents a 7.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Joseph J. Hartnett sold 643 shares of the stock in a transaction 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 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. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 14.80% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on GRMN shares. 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 note on Thursday, April 16th. Barclays decreased their price objective on Garmin from $240.00 to $238.00 and set an “equal weight” rating for the company in a report on Thursday, April 30th. Morgan Stanley set a $249.00 target price on Garmin in a report on Thursday, April 30th. Weiss Ratings restated a “buy (b)” rating on shares of Garmin in a research note on Monday, June 8th. Finally, Tigress Financial raised their price objective on shares of Garmin from $320.00 to $325.00 and gave the company a “strong-buy” rating in a research note on Wednesday, May 20th. 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $269.40.

Garmin Price Performance

NYSE GRMN opened at $242.82 on Friday. The stock has a market capitalization of $46.83 billion, a price-to-earnings ratio of 27.07, a PEG ratio of 2.84 and a beta of 0.90. The business’s fifty day moving average is $238.82 and its 200-day moving average is $234.76. Garmin Ltd. has a one year low of $186.67 and a one year high of $273.32.

Garmin (NYSE:GRMN) last issued its earnings results on Wednesday, April 29th. The scientific and technical instruments company reported $2.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.24. Garmin had a return on equity of 20.07% and a net margin of 23.26%.The firm had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same period in the previous year, the company posted $1.61 earnings per share. The business’s 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 fiscal year.

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.