Garmin Ltd. $GRMN Shares Acquired by Columbus Macro LLC

Columbus Macro LLC raised its holdings in shares of Garmin Ltd. (NYSE:GRMN) by 25.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,753 shares of the scientific and technical instruments company’s stock after acquiring an additional 3,564 shares during the period. Columbus Macro LLC’s holdings in Garmin were worth $5,092,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Arrowstreet Capital Limited Partnership lifted its holdings in Garmin by 121.6% in the first quarter. Arrowstreet Capital Limited Partnership now owns 107,929 shares of the scientific and technical instruments company’s stock worth $25,041,000 after purchasing an additional 59,229 shares during the period. Plato Investment Management Ltd bought a new position in Garmin in the 2nd quarter valued at about $1,447,000. Commerzbank Aktiengesellschaft FI acquired a new position in Garmin during the 2nd quarter valued at about $1,237,000. Quantinno Capital Management LP increased its stake in Garmin by 51.2% during the 1st quarter. Quantinno Capital Management LP now owns 351,241 shares of the scientific and technical instruments company’s stock valued at $81,491,000 after buying an additional 119,011 shares during the period. Finally, Engineers Gate Manager LP raised its position in shares of Garmin by 198.8% during the 2nd quarter. Engineers Gate Manager LP now owns 7,452 shares of the scientific and technical instruments company’s stock worth $1,770,000 after buying an additional 4,958 shares in the last quarter. Institutional investors own 81.60% of the company’s stock.

Garmin Price Performance

Shares of Garmin stock traded up $3.00 during trading on Wednesday, hitting $279.41. The stock had a trading volume of 947,987 shares, compared to its average volume of 895,241. The business has a fifty day moving average of $287.15 and a two-hundred day moving average of $260.34. Garmin Ltd. has a fifty-two week low of $186.67 and a fifty-two week high of $314.28. The firm has a market cap of $53.88 billion, a P/E ratio of 28.81, a PEG ratio of 2.98 and a beta of 0.82.

Garmin (NYSE:GRMN) last released its earnings results on Thursday, July 30th. The scientific and technical instruments company reported $2.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.30 by $0.51. Garmin had a return on equity of 20.95% and a net margin of 24.47%. The firm had revenue of $2.02 billion for the quarter, compared to analyst estimates of $1.93 billion. During the same period in the previous year, the company earned $2.17 earnings per share. Garmin’s revenue was up 11.4% compared to the same quarter last year. As a group, research analysts forecast that Garmin Ltd. will post 10.08 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Wall Street Zen lowered shares of Garmin from a “buy” rating to a “hold” rating in a research note on Saturday, June 20th. Weiss Ratings reiterated a “buy (b)” rating on shares of Garmin in a research note on Friday, September 4th. Morgan Stanley raised their price objective on shares of Garmin from $249.00 to $289.00 and gave the company an “equal weight” rating in a research note on Thursday, July 30th. Arete Research started coverage on Garmin in a report on Wednesday. They set a “buy” rating and a $335.00 target price on the stock. Finally, UBS Group set a $370.00 target price on Garmin in a research report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $313.71.

Insider Buying and Selling at Garmin

In other news, insider Cheng-Wei Wang sold 9,941 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $299.36, for a total transaction of $2,975,937.76. Following the completion of the transaction, the insider owned 29,506 shares in the company, valued at approximately $8,832,916.16. This trade represents a 25.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Joshua Maxfield sold 1,152 shares of Garmin stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $291.13, for a total transaction of $335,381.76. Following the completion of the transaction, the vice president directly owned 15,042 shares in the company, valued at $4,379,177.46. This represents a 7.11% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 16,108 shares of company stock valued at $4,808,799 over the last 90 days. Insiders own 14.80% of the company’s stock.

Garmin News Roundup

Here are the key news stories impacting Garmin this week:

• Positive Sentiment: Arete Research initiated coverage with a Buy rating and a $335 price target, implying roughly 20% upside from the referenced share price. This adds a new bullish Wall Street view ahead of Garmin’s third-quarter earnings report.
• Positive Sentiment: Garmin said more than 2,500 aircraft are now equipped with its Autoland emergency landing system. The milestone supports the growth and adoption of Garmin’s aviation technology portfolio. More than 2,500 aircraft are now equipped with Garmin’s revolutionary Autoland system
• Positive Sentiment: The company announced Ventura, California, as the fourth location for its Garmin Marathon Series, extending the brand’s consumer engagement and fitness ecosystem into 2027. Garmin selects Ventura, California as newest Garmin Marathon Series location
• Positive Sentiment: Recent launches of the premium third-generation MARQ smartwatch collection and the 1,000th King Air G1000 retrofit reinforce momentum across Garmin’s luxury wearables and aviation segments. Third-generation MARQ collection
• Neutral Sentiment: Garmin’s latest quarterly results exceeded earnings and revenue expectations, with revenue up 11.4% year over year, while investors await the scheduled October 28 third-quarter report.
• Negative Sentiment: Zacks Research downgraded Garmin from “Strong Buy” to “Hold,” potentially tempering enthusiasm around the stock’s valuation.
• Negative Sentiment: Reported insider activity shows executives have made multiple sales and no open-market purchases over the past six months. While such transactions may be routine, the pattern could weigh on sentiment.

Garmin Company Profile

Garmin Ltd. is a technology company that develops products using global positioning system (GPS), satellite communications and other location-based technologies. The company serves consumers, businesses and professional users through product lines focused on fitness, outdoor recreation, aviation, marine and automotive applications.

Its offerings include smartwatches and fitness trackers, cycling computers, navigation devices, satellite communicators, outdoor handhelds, marine chartplotters and sonar systems, and aviation navigation and communication equipment.