Commerzbank Aktiengesellschaft FI Acquires New Shares in Garmin Ltd. $GRMN

Commerzbank Aktiengesellschaft FI acquired a new stake in Garmin Ltd. (NYSE:GRMN) in the second quarter, HoldingsChannel reports. The firm acquired 5,206 shares of the scientific and technical instruments company’s stock, valued at approximately $1,237,000.

Other hedge funds have also added to or reduced their stakes in the company. Groupe la Francaise increased its position in Garmin by 346.4% in the 1st 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 during the period. Reflection Asset Management acquired a new stake in Garmin in the fourth quarter valued at $32,000. Atlas Capital Advisors Inc. acquired a new stake in Garmin in the fourth quarter valued at $34,000. Archer Investment Corp bought a new position in Garmin during the 1st quarter worth $37,000. Finally, Torren Management LLC bought a new position in Garmin during the 4th quarter worth $41,000. 81.60% of the stock is currently owned by institutional investors and hedge funds.

Garmin Price Performance

GRMN opened at $298.41 on Wednesday. The stock has a market capitalization of $57.55 billion, a price-to-earnings ratio of 30.76, a PEG ratio of 3.47 and a beta of 0.87. The business has a fifty day moving average price of $259.71 and a 200 day moving average price of $245.69. Garmin Ltd. has a 12 month low of $186.67 and a 12 month high of $314.28.

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 (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $1.93 billion. During the same period in the prior year, the business earned $2.17 EPS. The company’s revenue for the quarter was up 11.4% compared to the same quarter last year. Garmin has set its FY 2026 guidance at 10.000-10.000 EPS. On average, research analysts anticipate that Garmin Ltd. will post 10.08 earnings per share for the current year.

Wall Street Analyst Weigh In

GRMN has been the topic of a number of analyst reports. Barclays upped their price target on Garmin from $238.00 to $297.00 and gave the company an “equal weight” rating in a research report on Thursday, July 30th. Weiss Ratings restated a “buy (b)” rating on shares of Garmin in a research report on Monday, June 8th. UBS Group set a $370.00 price objective on Garmin in a research note on Thursday, August 6th. Zacks Research upgraded Garmin from a “hold” rating to a “strong-buy” rating in a report on Friday, July 31st. Finally, Wall Street Zen downgraded shares of Garmin from a “buy” rating to a “hold” rating in a research report on Saturday, June 20th. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Garmin has an average rating of “Moderate Buy” and a consensus target price of $310.17.

Insider Transactions at Garmin

In other news, Director Sean Biddlecombe sold 986 shares of Garmin stock in a transaction that occurred 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 completion of the sale, the director directly owned 6,021 shares in the company, valued at approximately $1,763,430.48. The trade was a 14.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joseph J. Hartnett sold 643 shares of the firm’s stock in a transaction that occurred on 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 sale, the director owned 21,277 shares in the company, valued at $5,607,978.89. This represents a 2.93% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 8,810 shares of company stock worth $2,478,157. 14.80% of the stock is currently 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.