Sterling Capital Management LLC Sells 7,841 Shares of Garmin Ltd. $GRMN

Sterling Capital Management LLC reduced its position in shares of Garmin Ltd. (NYSE:GRMN) by 39.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,815 shares of the scientific and technical instruments company’s stock after selling 7,841 shares during the quarter. Sterling Capital Management LLC’s holdings in Garmin were worth $2,741,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in GRMN. Reflection Asset Management acquired a new position in shares of Garmin during the 4th quarter worth about $32,000. Atlas Capital Advisors Inc. acquired a new stake in Garmin in the 4th quarter valued at about $34,000. GraniteShares Advisors LLC acquired a new stake in Garmin in the 4th quarter valued at about $41,000. Torren Management LLC bought a new position in Garmin during the fourth quarter worth about $41,000. Finally, SHP Wealth Management bought a new position in Garmin during the fourth quarter worth about $44,000. Institutional investors and hedge funds own 81.60% of the company’s stock.

Wall Street Analysts Forecast Growth

GRMN has been the topic of several research analyst reports. Morgan Stanley set a $249.00 price objective on Garmin in a research note on Thursday, April 30th. JPMorgan Chase & Co. lifted their target price on Garmin from $265.00 to $285.00 and gave the stock a “neutral” rating in a research note on Thursday, April 16th. Weiss Ratings reissued a “buy (b)” rating on shares of Garmin in a report on Monday, June 8th. Zacks Research cut Garmin from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. Finally, Wall Street Zen downgraded Garmin from a “buy” rating to a “hold” rating in a report on Saturday, June 20th. One research 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. Based on data from MarketBeat.com, Garmin presently has an average rating of “Moderate Buy” and an average price target of $269.40.

Garmin Stock Up 0.2%

Shares of GRMN stock opened at $233.02 on Monday. The firm has a 50 day moving average price of $241.80 and a two-hundred day moving average price of $229.72. The company has a market capitalization of $44.94 billion, a PE ratio of 25.98, a price-to-earnings-growth ratio of 2.75 and a beta of 0.91. Garmin Ltd. has a 12-month low of $186.67 and a 12-month high of $273.32.

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

Insiders Place Their Bets

In related news, CFO Douglas G. Boessen sold 2,000 shares of the firm’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $237.91, for a total transaction 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. This trade represents a 7.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction of $169,475.51. Following the transaction, the director owned 21,277 shares in the company, valued at approximately $5,607,978.89. The trade was a 2.93% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 15.38% of the company’s stock.

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.