Hillsdale Investment Management Inc. Takes $933,000 Position in Garmin Ltd. $GRMN

Hillsdale Investment Management Inc. bought a new stake in Garmin Ltd. (NYSE:GRMN) in the fourth quarter, Holdings Channel reports. The institutional investor bought 4,600 shares of the scientific and technical instruments company’s stock, valued at approximately $933,000.

Several other institutional investors have also recently bought and sold shares of GRMN. Alliancebernstein L.P. raised its position in Garmin by 649.2% in the 3rd quarter. Alliancebernstein L.P. now owns 1,256,668 shares of the scientific and technical instruments company’s stock worth $309,417,000 after purchasing an additional 1,088,938 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Garmin by 2.5% in the 3rd quarter. Vanguard Group Inc. now owns 20,197,564 shares of the scientific and technical instruments company’s stock valued at $4,973,044,000 after buying an additional 499,235 shares during the period. KBC Group NV grew its holdings in shares of Garmin by 113.6% in the 4th quarter. KBC Group NV now owns 561,291 shares of the scientific and technical instruments company’s stock valued at $113,859,000 after buying an additional 298,462 shares during the period. Lazard Asset Management LLC grew its holdings in shares of Garmin by 530.5% in the 3rd quarter. Lazard Asset Management LLC now owns 351,690 shares of the scientific and technical instruments company’s stock valued at $86,593,000 after buying an additional 295,914 shares during the period. Finally, Man Group plc lifted its position in Garmin by 302.5% in the 3rd quarter. Man Group plc now owns 244,679 shares of the scientific and technical instruments company’s stock valued at $60,245,000 after acquiring an additional 183,889 shares in the last quarter. Institutional investors own 81.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on GRMN. Zacks Research cut shares of Garmin from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 1st. Barclays dropped their target price on shares of Garmin from $240.00 to $238.00 and set an “equal weight” rating on the stock in a report on Thursday, April 30th. Morgan Stanley set a $249.00 price target on shares of Garmin in a research note on Thursday, April 30th. JPMorgan Chase & Co. increased 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, Tigress Financial increased their target price on shares of Garmin from $320.00 to $325.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, May 20th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $269.40.

Garmin Price Performance

Shares of Garmin stock opened at $237.55 on Tuesday. Garmin Ltd. has a fifty-two week low of $186.67 and a fifty-two week high of $273.32. The firm has a market capitalization of $45.81 billion, a P/E ratio of 26.48, a P/E/G ratio of 2.76 and a beta of 0.94. The company’s 50 day moving average price is $244.60 and its two-hundred day moving average price is $224.15.

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

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.