SG Trading Solutions LLC Purchases New Stake in Garmin Ltd. $GRMN

SG Trading Solutions LLC bought a new stake in Garmin Ltd. (NYSE:GRMN) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 2,144 shares of the scientific and technical instruments company’s stock, valued at approximately $435,000.

Other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new stake in Garmin in the fourth quarter valued at about $395,234,000. Alliancebernstein L.P. raised its stake in Garmin by 649.2% during the third quarter. Alliancebernstein L.P. now owns 1,256,668 shares of the scientific and technical instruments company’s stock worth $309,417,000 after acquiring an additional 1,088,938 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in Garmin during the fourth quarter worth about $214,382,000. Man Group plc lifted its holdings in shares of Garmin by 232.0% in the fourth quarter. Man Group plc now owns 812,390 shares of the scientific and technical instruments company’s stock worth $164,793,000 after acquiring an additional 567,711 shares during the last quarter. Finally, Westfield Capital Management Co. LP bought a new position in shares of Garmin in the fourth quarter worth about $68,106,000. Institutional investors and hedge funds own 81.60% of the company’s stock.

Garmin Stock Performance

NYSE:GRMN opened at $234.22 on Friday. Garmin Ltd. has a fifty-two week low of $186.67 and a fifty-two week high of $273.32. The company has a 50 day simple moving average of $244.28 and a two-hundred day simple moving average of $228.24. The company has a market capitalization of $45.17 billion, a PE ratio of 26.11, a P/E/G ratio of 2.77 and a beta of 0.91.

Garmin (NYSE:GRMN) last posted its quarterly earnings data 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. The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.72 billion. Garmin had a net margin of 23.26% and a return on equity of 20.07%. The company’s quarterly revenue was up 14.0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.61 EPS. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. Research analysts predict that Garmin Ltd. will post 9.53 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Zacks Research lowered shares of Garmin from a “strong-buy” rating to a “hold” rating in a report on Friday, May 1st. Tigress Financial raised their target price 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. Barclays decreased their target price on shares of Garmin from $240.00 to $238.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 30th. JPMorgan Chase & Co. upped their price target on shares of Garmin from $265.00 to $285.00 and gave the stock a “neutral” rating in a report on Thursday, April 16th. Finally, Wall Street Zen downgraded Garmin from a “buy” rating to a “hold” rating in a report on Saturday. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Garmin presently has an average rating of “Moderate Buy” and an average target price of $269.40.

Insider Transactions at Garmin

In other Garmin news, CFO Douglas G. Boessen sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $237.91, for a total value of $475,820.00. Following the transaction, the chief financial officer directly 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Joseph J. Hartnett sold 643 shares of the stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $263.57, for a total value of $169,475.51. Following the transaction, the director owned 21,277 shares in the company, valued at $5,607,978.89. The trade was a 2.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 15.38% of the stock is owned by insiders.

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.