Garmin Ltd. $GRMN Shares Bought by Handelsbanken Fonder AB

Handelsbanken Fonder AB grew its holdings in shares of Garmin Ltd. (NYSE:GRMN) by 2.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 196,267 shares of the scientific and technical instruments company’s stock after purchasing an additional 4,252 shares during the period. Handelsbanken Fonder AB owned approximately 0.10% of Garmin worth $46,621,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. GSA Capital Partners LLP acquired a new stake in shares of Garmin during the 4th quarter valued at $979,000. Commerzbank Aktiengesellschaft FI grew its holdings in shares of Garmin by 282.5% in the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 6,518 shares of the scientific and technical instruments company’s stock worth $1,322,000 after acquiring an additional 4,814 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Garmin by 121.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 107,929 shares of the scientific and technical instruments company’s stock worth $25,041,000 after acquiring an additional 59,229 shares during the last quarter. Generali Asset Management SPA SGR raised its position in shares of Garmin by 8,727.4% during the fourth quarter. Generali Asset Management SPA SGR now owns 9,357 shares of the scientific and technical instruments company’s stock worth $1,898,000 after purchasing an additional 9,251 shares during the period. Finally, Principal Financial Group Inc. raised its position in shares of Garmin by 3.2% during the fourth quarter. Principal Financial Group Inc. now owns 200,083 shares of the scientific and technical instruments company’s stock worth $40,587,000 after purchasing an additional 6,126 shares during the period. 81.60% of the stock is currently owned by institutional investors.

Garmin Trading Down 1.2%

Shares of GRMN stock opened at $309.26 on Wednesday. The company has a market capitalization of $59.64 billion, a price-to-earnings ratio of 31.88, a P/E/G ratio of 3.49 and a beta of 0.87. Garmin Ltd. has a 1-year low of $186.67 and a 1-year high of $314.28. The stock’s fifty day simple moving average is $252.73 and its 200-day simple moving average is $242.09.

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

Insiders Place Their Bets

In related news, CEO Clifton A. Pemble sold 4,029 shares of the business’s stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $300.00, for a total transaction of $1,208,700.00. Following the transaction, the chief executive officer directly owned 120,127 shares of the company’s stock, valued at approximately $36,038,100. The trade was a 3.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Sean Biddlecombe sold 986 shares of the company’s stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $292.88, for a total transaction of $288,779.68. Following the completion of the transaction, the director owned 6,021 shares in the company, valued at approximately $1,763,430.48. This represents a 14.07% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 8,810 shares of company stock valued at $2,478,157 over the last ninety days. Insiders own 14.80% of the company’s stock.

Wall Street Analyst Weigh In

GRMN has been the subject of a number of recent analyst reports. Zacks Research upgraded Garmin from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 31st. Morgan Stanley boosted their price objective on Garmin from $249.00 to $289.00 and gave the stock an “equal weight” rating in a report on Thursday, July 30th. Wall Street Zen lowered shares of Garmin from a “buy” rating to a “hold” rating in a research note on Saturday, June 20th. Barclays lifted their target price on shares of Garmin from $238.00 to $297.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 30th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Garmin in a report on Monday, June 8th. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $310.17.

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.