Andra AP fonden Has $20.51 Million Stake in Garmin Ltd. $GRMN

Andra AP fonden raised its position in shares of Garmin Ltd. (NYSE:GRMN) by 535.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 101,100 shares of the scientific and technical instruments company’s stock after acquiring an additional 85,187 shares during the period. Andra AP fonden’s holdings in Garmin were worth $20,508,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Krilogy Financial LLC bought a new stake in shares of Garmin during the third quarter valued at approximately $1,519,000. ARK Investment Management LLC grew its stake in shares of Garmin by 10.9% during the third quarter. ARK Investment Management LLC now owns 28,925 shares of the scientific and technical instruments company’s stock valued at $7,122,000 after purchasing an additional 2,852 shares during the last quarter. GSA Capital Partners LLP bought a new stake in shares of Garmin during the fourth quarter valued at approximately $979,000. Diversified Trust Co. grew its stake in shares of Garmin by 123.1% during the fourth quarter. Diversified Trust Co. now owns 8,248 shares of the scientific and technical instruments company’s stock valued at $1,673,000 after purchasing an additional 4,551 shares during the last quarter. Finally, DB Fitzpatrick & Co Inc bought a new stake in shares of Garmin during the fourth quarter valued at approximately $1,439,000. Institutional investors and hedge funds own 81.60% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. JPMorgan Chase & Co. increased their price target on shares of Garmin from $265.00 to $285.00 and gave the company a “neutral” rating in a research note on Thursday, April 16th. Wall Street Zen raised shares of Garmin from a “hold” rating to a “buy” rating in a research note on Saturday, June 6th. Barclays decreased their price target 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. Morgan Stanley set a $249.00 price target on shares of Garmin in a research note on Thursday, April 30th. Finally, Tigress Financial increased their price target on shares of Garmin from $320.00 to $325.00 and gave the company a “strong-buy” rating in a research note on Wednesday, May 20th. One 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 MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $269.40.

Insider Buying and Selling

In other news, Director Joseph J. Hartnett sold 643 shares of Garmin stock in a transaction 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 transaction, the director directly owned 21,277 shares of the company’s stock, valued at $5,607,978.89. This trade represents a 2.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Douglas G. Boessen sold 2,000 shares of Garmin stock in a transaction on Friday, June 5th. The stock was 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 in the company, valued at approximately $6,197,317.59. This represents a 7.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 15.38% of the stock is currently owned by company insiders.

Garmin Stock Performance

Shares of GRMN stock opened at $238.58 on Friday. Garmin Ltd. has a 52-week low of $186.67 and a 52-week high of $273.32. The stock has a market cap of $46.01 billion, a PE ratio of 26.60, a PEG ratio of 2.74 and a beta of 0.91. The firm’s 50 day moving average price is $245.01 and its two-hundred day moving average price is $226.73.

Garmin (NYSE:GRMN) last announced its quarterly earnings data on Wednesday, April 29th. The scientific and technical instruments company reported $2.08 earnings per share (EPS) 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 analysts’ expectations of $1.72 billion. During the same period last year, the firm earned $1.61 earnings per share. The business’s revenue for the quarter was up 14.0% on a year-over-year basis. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. As a group, sell-side analysts predict that Garmin Ltd. will post 9.53 earnings per share for the current fiscal year.

Garmin Company 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.