Garmin Ltd. $GRMN Shares Acquired by Herbst Group LLC

Herbst Group LLC lifted its stake in Garmin Ltd. (NYSE:GRMN) by 41.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,800 shares of the scientific and technical instruments company’s stock after buying an additional 1,700 shares during the period. Herbst Group LLC’s holdings in Garmin were worth $1,378,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Groupe la Francaise boosted its stake in Garmin by 346.4% in the first quarter. Groupe la Francaise now owns 125 shares of the scientific and technical instruments company’s stock valued at $29,000 after acquiring an additional 97 shares in the last quarter. Reflection Asset Management acquired a new stake in shares of Garmin during the fourth quarter worth about $32,000. Atlas Capital Advisors Inc. acquired a new stake in shares of Garmin during the fourth quarter worth about $34,000. Archer Investment Corp purchased a new stake in shares of Garmin in the 1st quarter valued at about $37,000. Finally, Torren Management LLC purchased a new stake in shares of Garmin in the 4th quarter valued at about $41,000. 81.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently issued reports on GRMN. Wall Street Zen downgraded Garmin from a “buy” rating to a “hold” rating in a research note on Saturday, June 20th. Barclays boosted their price objective on Garmin from $238.00 to $297.00 and gave the company an “equal weight” rating in a research note on Thursday, July 30th. Morgan Stanley increased their price objective on Garmin from $249.00 to $289.00 and gave the company an “equal weight” rating in a report on Thursday, July 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. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Garmin in a report on Monday, June 8th. Two analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $310.17.

Garmin Stock Up 0.1%

Shares of GRMN stock opened at $311.33 on Monday. The stock’s 50-day moving average price is $249.83 and its 200 day moving average price is $240.56. The stock has a market capitalization of $60.04 billion, a PE ratio of 32.10, a price-to-earnings-growth ratio of 3.47 and a beta of 0.87. Garmin Ltd. has a 52-week low of $186.67 and a 52-week high of $312.70.

Garmin (NYSE:GRMN) last posted its quarterly earnings data on Wednesday, July 29th. The scientific and technical instruments company reported $2.81 earnings per share for the quarter, topping analysts’ consensus estimates of $2.30 by $0.51. The company had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $1.93 billion. Garmin had a return on equity of 20.95% and a net margin of 24.47%.The firm’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same period last year, the firm earned $2.17 EPS. Garmin has set its FY 2026 guidance at 10.000-10.000 EPS. Analysts expect that Garmin Ltd. will post 10.1 earnings per share for the current fiscal year.

Insider Activity

In other Garmin news, Director Sean Biddlecombe sold 986 shares of the business’s stock in a transaction on Friday, July 31st. The shares were sold at an average price of $292.88, for a total value of $288,779.68. Following the transaction, the director directly owned 6,021 shares of the company’s stock, valued at approximately $1,763,430.48. The trade was a 14.07% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Douglas G. Boessen sold 2,000 shares of the company’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $237.91, for a total transaction of $475,820.00. Following the transaction, the chief financial officer owned 26,049 shares of the company’s stock, valued at approximately $6,197,317.59. The trade was a 7.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 8,810 shares of company stock valued at $2,478,157. 14.80% 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.