Garmin Ltd. $GRMN Shares Bought by Lifeworks Advisors LLC

Lifeworks Advisors LLC raised its holdings in Garmin Ltd. (NYSE:GRMN) by 16.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 25,544 shares of the scientific and technical instruments company’s stock after purchasing an additional 3,649 shares during the period. Lifeworks Advisors LLC’s holdings in Garmin were worth $5,927,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Diversify Wealth Management LLC bought a new position in Garmin during the 1st quarter valued at $584,000. Citizens Financial Group Inc. RI increased its position in shares of Garmin by 47.3% in the 1st quarter. Citizens Financial Group Inc. RI now owns 1,899 shares of the scientific and technical instruments company’s stock worth $440,000 after purchasing an additional 610 shares during the last quarter. Midwest Trust Co raised its stake in shares of Garmin by 12.1% in the 1st quarter. Midwest Trust Co now owns 4,296 shares of the scientific and technical instruments company’s stock valued at $997,000 after purchasing an additional 463 shares in the last quarter. Fifth Third Bancorp raised its stake in shares of Garmin by 14.1% in the 1st quarter. Fifth Third Bancorp now owns 6,842 shares of the scientific and technical instruments company’s stock valued at $1,587,000 after purchasing an additional 843 shares in the last quarter. Finally, Sequoia Financial Advisors LLC lifted its position in shares of Garmin by 14.7% during the first quarter. Sequoia Financial Advisors LLC now owns 8,133 shares of the scientific and technical instruments company’s stock worth $1,887,000 after purchasing an additional 1,045 shares during the last quarter. Institutional investors and hedge funds own 81.60% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Zacks Research lowered Garmin from a “strong-buy” rating to a “hold” rating in a report on Friday, May 1st. Tigress Financial increased their target price on Garmin from $320.00 to $325.00 and gave the stock a “strong-buy” rating in a report on Wednesday, May 20th. Weiss Ratings reiterated a “buy (b)” rating on shares of Garmin in a research report on Monday, June 8th. Barclays lowered their price target on Garmin from $240.00 to $238.00 and set an “equal weight” rating for the company in a report on Thursday, April 30th. Finally, Morgan Stanley set a $249.00 price objective on Garmin in a research note on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $269.40.

Garmin Stock Up 0.1%

GRMN stock opened at $243.31 on Monday. The stock has a market cap of $46.92 billion, a PE ratio of 27.12, a price-to-earnings-growth ratio of 2.87 and a beta of 0.90. The firm’s 50-day simple moving average is $237.87 and its 200 day simple moving average is $232.23. Garmin Ltd. has a fifty-two week low of $186.67 and a fifty-two week high of $273.32.

Garmin (NYSE:GRMN) last posted its earnings results 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 period in the previous year, the business posted $1.61 EPS. Garmin’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. Equities analysts forecast that Garmin Ltd. will post 9.53 EPS for the current fiscal year.

Insider Activity at Garmin

In other Garmin news, CFO Douglas G. Boessen sold 2,000 shares of the business’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $237.91, for a total transaction of $475,820.00. Following the completion of the transaction, the chief financial officer owned 26,049 shares in the company, valued at approximately $6,197,317.59. The trade was a 7.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 completion of the transaction, the director directly owned 21,277 shares of the company’s stock, valued at approximately $5,607,978.89. The trade was a 2.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 14.80% of the company’s stock.

Garmin Company 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.