ING Groep NV Boosts Holdings in Garmin Ltd. $GRMN

ING Groep NV lifted its stake in Garmin Ltd. (NYSE:GRMN) by 42.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 30,028 shares of the scientific and technical instruments company’s stock after purchasing an additional 8,876 shares during the period. ING Groep NV’s holdings in Garmin were worth $6,091,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of GRMN. GraniteShares Advisors LLC purchased a new stake in shares of Garmin in the 4th quarter worth about $41,000. Torren Management LLC purchased a new stake in shares of Garmin in the 4th quarter worth about $41,000. Elyxium Wealth LLC purchased a new stake in shares of Garmin in the 4th quarter worth about $60,000. State of Wyoming lifted its position in shares of Garmin by 26.2% in the 4th quarter. State of Wyoming now owns 352 shares of the scientific and technical instruments company’s stock worth $71,000 after purchasing an additional 73 shares during the period. Finally, Camelot Portfolios LLC purchased a new stake in shares of Garmin in the 4th quarter worth about $81,000. 81.60% of the stock is owned by hedge funds and other institutional investors.

Garmin Price Performance

Shares of NYSE GRMN opened at $235.36 on Tuesday. 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 $45.39 billion, a P/E ratio of 26.24, a price-to-earnings-growth ratio of 2.79 and a beta of 0.91. The firm has a 50-day moving average of $244.61 and a 200 day moving average of $225.75.

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 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 company had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same period last year, the company 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. Research analysts expect that Garmin Ltd. will post 9.53 earnings per share for the current fiscal year.

Analyst Ratings Changes

GRMN has been the subject of several research analyst reports. Barclays dropped their target price on shares of Garmin from $240.00 to $238.00 and set an “equal weight” rating for the company in a research report on Thursday, April 30th. JPMorgan Chase & Co. raised their target price on shares of Garmin from $265.00 to $285.00 and gave the stock a “neutral” rating in a research report on Thursday, April 16th. Morgan Stanley set a $249.00 target price on shares of Garmin in a research report on Thursday, April 30th. Tigress Financial lifted their price target on shares of Garmin from $320.00 to $325.00 and gave the company a “strong-buy” rating in a research report on Wednesday, May 20th. Finally, Zacks Research cut shares of Garmin from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $269.40.

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.