Peterson Wealth Services Buys 17,821 Shares of Garmin Ltd. $GRMN

Peterson Wealth Services raised its stake in Garmin Ltd. (NYSE:GRMN) by 7,885.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,047 shares of the scientific and technical instruments company’s stock after purchasing an additional 17,821 shares during the period. Garmin makes up approximately 0.9% of Peterson Wealth Services’ holdings, making the stock its 27th biggest position. Peterson Wealth Services’ holdings in Garmin were worth $3,661,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of GRMN. GraniteShares Advisors LLC bought a new stake in Garmin in the 4th quarter valued at $41,000. Torren Management LLC bought a new stake in Garmin in the 4th quarter valued at $41,000. Elyxium Wealth LLC bought a new stake in Garmin in the 4th quarter valued at $60,000. State of Wyoming boosted its holdings in Garmin by 26.2% in the 4th 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 period. Finally, Camelot Portfolios LLC bought a new stake in Garmin in the 4th quarter valued at $81,000. 81.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on GRMN. 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. Barclays reduced their price target 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. 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. Wall Street Zen raised shares of Garmin from a “hold” rating to a “buy” rating in a report on Saturday, June 6th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Garmin in a report on Monday. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $269.40.

Garmin Stock Performance

NYSE:GRMN opened at $238.58 on Friday. The company has a 50-day moving average of $245.01 and a 200-day moving average of $226.73. The company has a market capitalization of $46.01 billion, a price-to-earnings ratio of 26.60, a PEG ratio of 2.74 and a beta of 0.91. Garmin Ltd. has a 52 week low of $186.67 and a 52 week high of $273.32.

Garmin (NYSE:GRMN) last released its quarterly earnings data on Wednesday, April 29th. The scientific and technical instruments company reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $1.84 by $0.24. The company had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.72 billion. Garmin had a net margin of 23.26% and a return on equity of 20.07%. The firm’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same period last year, the firm earned $1.61 EPS. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. Sell-side analysts forecast that Garmin Ltd. will post 9.53 EPS for the current year.

Insider Transactions at Garmin

In other news, Director Joseph J. Hartnett sold 643 shares of the firm’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $263.57, for a total transaction 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. This trade represents a 2.93% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Douglas G. Boessen sold 2,000 shares of the stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $237.91, for a total transaction of $475,820.00. Following the sale, the chief financial officer owned 26,049 shares of the company’s stock, valued at $6,197,317.59. This trade represents a 7.13% decrease in their position. The SEC filing for this sale provides additional information. 15.38% of the stock is currently owned by company insiders.

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.