Garmin Ltd. $GRMN Position Lessened by Handelsbanken Fonder AB

Handelsbanken Fonder AB decreased its stake in Garmin Ltd. (NYSE:GRMN) by 6.9% during the 4th quarter, HoldingsChannel reports. The firm owned 194,104 shares of the scientific and technical instruments company’s stock after selling 14,365 shares during the period. Handelsbanken Fonder AB’s holdings in Garmin were worth $39,374,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Daymark Wealth Partners LLC increased its position in Garmin by 0.7% in the 4th quarter. Daymark Wealth Partners LLC now owns 6,813 shares of the scientific and technical instruments company’s stock valued at $1,382,000 after acquiring an additional 48 shares during the period. SYM FINANCIAL Corp increased its position in Garmin by 4.0% in the 3rd quarter. SYM FINANCIAL Corp now owns 1,294 shares of the scientific and technical instruments company’s stock valued at $319,000 after acquiring an additional 50 shares during the period. S.A. Mason LLC increased its position in Garmin by 2.4% in the 4th quarter. S.A. Mason LLC now owns 2,150 shares of the scientific and technical instruments company’s stock valued at $436,000 after acquiring an additional 50 shares during the period. Quadrant Capital Group LLC increased its position in Garmin by 1.0% in the 3rd quarter. Quadrant Capital Group LLC now owns 4,917 shares of the scientific and technical instruments company’s stock valued at $1,211,000 after acquiring an additional 51 shares during the period. Finally, Wealthcare Advisory Partners LLC increased its position in Garmin by 0.7% in the 3rd quarter. Wealthcare Advisory Partners LLC now owns 7,724 shares of the scientific and technical instruments company’s stock valued at $1,902,000 after acquiring an additional 53 shares during the period. Institutional investors own 81.60% of the company’s stock.

Wall Street Analysts Forecast Growth

GRMN has been the topic of several analyst reports. Morgan Stanley set a $249.00 target price on Garmin in a research report on Thursday, April 30th. Zacks Research cut Garmin from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 1st. 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. Tigress Financial raised their target price on Garmin from $310.00 to $320.00 and gave the company a “strong-buy” rating in a research report on Friday, February 20th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Garmin in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Garmin presently has a consensus rating of “Moderate Buy” and a consensus price target of $268.40.

Garmin Stock Performance

Shares of GRMN stock opened at $228.78 on Wednesday. Garmin Ltd. has a 1 year low of $186.67 and a 1 year high of $273.32. The stock has a market cap of $44.12 billion, a PE ratio of 25.51, a price-to-earnings-growth ratio of 2.67 and a beta of 0.94. The business’s fifty day moving average is $244.27 and its 200-day moving average is $222.15.

Garmin (NYSE:GRMN) last issued its quarterly 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 company had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.72 billion. During the same period last year, the firm earned $1.61 EPS. The firm’s revenue for the quarter was up 14.0% on a year-over-year basis. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. Equities research analysts predict that Garmin Ltd. will post 9.57 earnings per share for the current year.

Insider Activity at Garmin

In other news, CEO Clifton A. Pemble sold 19,914 shares of Garmin stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $251.58, for a total transaction of $5,009,964.12. Following the transaction, the chief executive officer directly owned 124,075 shares in the company, valued at approximately $31,214,788.50. This trade represents a 13.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Susan Lyman sold 3,805 shares of the firm’s stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $251.32, for a total value of $956,272.60. Following the sale, the vice president directly owned 7,471 shares of the company’s stock, valued at approximately $1,877,611.72. This represents a 33.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 40,246 shares of company stock worth $10,110,041 in the last quarter. Company insiders own 19.54% of the company’s stock.

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.