Fiera Capital Corp Grows Stock Holdings in Garmin Ltd. $GRMN

Fiera Capital Corp grew its holdings in shares of Garmin Ltd. (NYSE:GRMN) by 26.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 29,550 shares of the scientific and technical instruments company’s stock after purchasing an additional 6,173 shares during the period. Fiera Capital Corp’s holdings in Garmin were worth $5,994,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Torren Management LLC purchased a new position in shares of Garmin during the fourth quarter valued at approximately $41,000. GraniteShares Advisors LLC purchased a new position in shares of Garmin during the fourth quarter valued at approximately $41,000. Elyxium Wealth LLC purchased a new position in shares of Garmin during the fourth quarter valued at approximately $60,000. State of Wyoming lifted its holdings in shares of Garmin by 26.2% during the fourth quarter. State of Wyoming now owns 352 shares of the scientific and technical instruments company’s stock valued at $71,000 after purchasing an additional 73 shares during the last quarter. Finally, Camelot Portfolios LLC purchased a new position in shares of Garmin during the fourth quarter valued at approximately $81,000. 81.60% of the stock is currently owned by hedge funds and other institutional investors.

Garmin Trading Up 1.1%

Shares of GRMN stock opened at $237.86 on Wednesday. Garmin Ltd. has a 12-month low of $186.67 and a 12-month high of $273.32. The firm’s 50 day moving average is $244.76 and its 200 day moving average is $226.09. The stock has a market capitalization of $45.87 billion, a P/E ratio of 26.52, a P/E/G ratio of 2.78 and a beta of 0.91.

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, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter last year, the company posted $1.61 earnings per share. The firm’s quarterly revenue was up 14.0% on a year-over-year basis. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. As a group, equities analysts predict that Garmin Ltd. will post 9.53 earnings per share for the current year.

Insider Activity at Garmin

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 sale, the chief financial officer owned 26,049 shares in the company, valued at approximately $6,197,317.59. This trade represents a 7.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Joseph J. Hartnett sold 643 shares of the firm’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $263.57, for a total transaction of $169,475.51. Following the completion of the sale, the director owned 21,277 shares in the company, valued at $5,607,978.89. This represents a 2.93% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 19.54% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on GRMN. Barclays lowered their target price on shares of Garmin from $240.00 to $238.00 and set an “equal weight” rating for the company in a report on Thursday, April 30th. JPMorgan Chase & Co. increased their price target on shares of Garmin from $265.00 to $285.00 and gave the company a “neutral” rating in a report on Thursday, April 16th. Morgan Stanley set a $249.00 price target on shares of Garmin in a report on Thursday, April 30th. Tigress Financial increased their price target on shares of Garmin from $320.00 to $325.00 and gave the company a “strong-buy” rating in a report on Wednesday, May 20th. Finally, Zacks Research cut shares of Garmin from a “strong-buy” rating to a “hold” rating in a report on Friday, May 1st. One 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. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $269.40.

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.