Garmin Ltd. $GRMN Stake Cut by Keybank National Association OH

Keybank National Association OH lessened its holdings in Garmin Ltd. (NYSE:GRMN) by 51.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,588 shares of the scientific and technical instruments company’s stock after selling 2,714 shares during the quarter. Keybank National Association OH’s holdings in Garmin were worth $600,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Reflection Asset Management acquired a new stake in shares of Garmin during the fourth quarter worth $32,000. Atlas Capital Advisors Inc. acquired a new position in shares of Garmin in the 4th quarter valued at about $34,000. GraniteShares Advisors LLC bought a new stake in shares of Garmin during the 4th quarter valued at about $41,000. Torren Management LLC bought a new stake in shares of Garmin during the 4th quarter valued at about $41,000. Finally, SHP Wealth Management acquired a new stake in Garmin during the fourth quarter worth about $44,000. Institutional investors own 81.60% of the company’s stock.

Analyst Upgrades and Downgrades

GRMN has been the topic of a number of recent research reports. Weiss Ratings reissued a “buy (b)” rating on shares of Garmin in a report on Monday, June 8th. Morgan Stanley set a $249.00 price target on Garmin in a research report on Thursday, April 30th. Zacks Research downgraded Garmin from a “strong-buy” rating to a “hold” rating in a report on Friday, May 1st. Wall Street Zen lowered Garmin from a “buy” rating to a “hold” rating in a research report on Saturday, June 20th. Finally, JPMorgan Chase & Co. upped their price objective on Garmin from $265.00 to $285.00 and gave the stock a “neutral” rating in a research note on Thursday, April 16th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $269.40.

Garmin Stock Performance

Shares of GRMN stock opened at $244.00 on Thursday. Garmin Ltd. has a 1 year low of $186.67 and a 1 year high of $273.32. The firm has a market capitalization of $47.06 billion, a PE ratio of 27.20, a price-to-earnings-growth ratio of 2.94 and a beta of 0.90. The stock has a fifty day moving average of $238.15 and a two-hundred day moving average of $231.66.

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

Insider Activity

In other Garmin 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 transaction, the director 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Douglas G. Boessen sold 2,000 shares of the business’s 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 in the company, valued at $6,197,317.59. This trade represents a 7.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 15.38% of the stock is currently owned by company insiders.

Garmin News Summary

Here are the key news stories impacting Garmin this week:

• Positive Sentiment: Garmin unveiled AXIS, a new family of highly integrated flight displays that combines flight display, IFR GPS, NAV/COMM and audio panel functions into one system, expanding its avionics offering and potentially opening new sales opportunities. Garmin unveils AXIS, a new generation of highly integrated flight displays
• Positive Sentiment: Garmin also launched LiveScope 2 for its marine business, with improved sonar clarity, range and easier installation, reinforcing momentum in one of its faster-growing consumer categories. Garmin launches LiveScope 2, its clearest live sonar yet
• Positive Sentiment: Several articles framed Garmin’s recent aviation and marine updates as strengthening its investment case, suggesting the company continues to innovate and may sustain demand beyond its core fitness products. Garmin (GRMN) Launches New Aviation And Marine Platforms, Is It Still Below Fair Value?

Garmin 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.