Hsbc Holdings PLC Acquires 201,240 Shares of Garmin Ltd. $GRMN

Hsbc Holdings PLC increased its holdings in Garmin Ltd. (NYSE:GRMN) by 282.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 272,512 shares of the scientific and technical instruments company’s stock after purchasing an additional 201,240 shares during the period. Hsbc Holdings PLC owned approximately 0.14% of Garmin worth $63,190,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. State Street Corp lifted its position in shares of Garmin by 1.8% in the third quarter. State Street Corp now owns 7,250,844 shares of the scientific and technical instruments company’s stock worth $1,785,304,000 after buying an additional 126,677 shares during the last quarter. Norges Bank acquired a new position in shares of Garmin during the 4th quarter valued at about $395,234,000. Northern Trust Corp increased its holdings in shares of Garmin by 3.8% during the 4th quarter. Northern Trust Corp now owns 1,719,677 shares of the scientific and technical instruments company’s stock valued at $348,836,000 after acquiring an additional 63,283 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Garmin by 6.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,591,369 shares of the scientific and technical instruments company’s stock valued at $322,837,000 after acquiring an additional 96,850 shares in the last quarter. Finally, Disciplined Growth Investors Inc. MN lifted its holdings in Garmin by 0.4% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 1,419,365 shares of the scientific and technical instruments company’s stock worth $296,250,000 after purchasing an additional 5,213 shares during the last quarter. 81.60% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Joseph J. Hartnett sold 643 shares of the business’s stock in a transaction dated 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 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Douglas G. Boessen sold 2,000 shares of the company’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 $6,197,317.59. This represents a 7.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 14.80% of the stock is owned by corporate insiders.

Garmin Stock Up 0.1%

Shares of NYSE GRMN opened at $249.86 on Monday. Garmin Ltd. has a 12 month low of $186.67 and a 12 month high of $273.32. The company has a market cap of $48.19 billion, a P/E ratio of 27.85, a P/E/G ratio of 2.95 and a beta of 0.90. The business’s 50 day moving average is $238.18 and its two-hundred day moving average is $233.65.

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

Wall Street Analyst Weigh In

Several brokerages have commented on GRMN. Barclays lowered their price target on Garmin from $240.00 to $238.00 and set an “equal weight” rating on the stock in a report on Thursday, April 30th. JPMorgan Chase & Co. boosted their price objective on shares of Garmin from $265.00 to $285.00 and gave the stock a “neutral” rating in a research note on Thursday, April 16th. Weiss Ratings reiterated a “buy (b)” rating on shares of Garmin in a research note on Monday, June 8th. Zacks Research downgraded shares of Garmin from a “strong-buy” rating to a “hold” rating in a report on Friday, May 1st. Finally, Morgan Stanley set a $249.00 target price on shares of Garmin in a research report on Thursday, April 30th. One investment 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 company’s stock. Based on data from MarketBeat, Garmin currently has a consensus rating of “Moderate Buy” and a consensus target price of $269.40.

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.