Swedbank AB Sells 12,353 Shares of Garmin Ltd. $GRMN

Swedbank AB reduced its holdings in Garmin Ltd. (NYSE:GRMN) by 10.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 111,499 shares of the scientific and technical instruments company’s stock after selling 12,353 shares during the quarter. Swedbank AB’s holdings in Garmin were worth $22,618,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in GRMN. Cornerstone Planning Group LLC increased its holdings in Garmin by 788.9% in the third quarter. Cornerstone Planning Group LLC now owns 160 shares of the scientific and technical instruments company’s stock worth $39,000 after purchasing an additional 142 shares in the last quarter. GraniteShares Advisors LLC bought a new stake in Garmin in the fourth quarter worth approximately $41,000. Torren Management LLC bought a new stake in shares of Garmin during the fourth quarter valued at approximately $41,000. Elyxium Wealth LLC bought a new stake in shares of Garmin during the fourth quarter valued at approximately $60,000. Finally, Camelot Portfolios LLC bought a new stake in shares of Garmin during the fourth quarter valued at approximately $81,000. 81.60% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Garmin

In related news, VP Susan Lyman sold 3,805 shares of the company’s stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $251.32, for a total transaction of $956,272.60. Following the completion of the sale, the vice president owned 7,471 shares in the company, valued at approximately $1,877,611.72. This represents a 33.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Douglas G. Boessen sold 3,487 shares of the company’s stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $251.66, for a total value of $877,538.42. Following the sale, the chief financial officer owned 28,049 shares of the company’s stock, valued at $7,058,811.34. This trade represents a 11.06% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 39,175 shares of company stock valued at $9,852,187 in the last three months. Insiders own 15.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on GRMN. Tigress Financial boosted their price objective on Garmin from $320.00 to $325.00 and gave the company a “strong-buy” rating in a report on Wednesday, May 20th. Morgan Stanley set a $249.00 price objective on Garmin in a report on Thursday, April 30th. JPMorgan Chase & Co. boosted their price objective on Garmin from $265.00 to $285.00 and gave the company a “neutral” rating in a report on Thursday, April 16th. Zacks Research downgraded Garmin from a “strong-buy” rating to a “hold” rating in a report on Friday, May 1st. Finally, Barclays decreased their price objective on Garmin from $240.00 to $238.00 and set an “equal weight” rating for the company in a report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $269.40.

Garmin Trading Up 0.1%

Shares of Garmin stock opened at $240.83 on Tuesday. The stock has a fifty day simple moving average of $244.30 and a 200 day simple moving average of $222.95. Garmin Ltd. has a 12-month low of $186.67 and a 12-month high of $273.32. The company has a market capitalization of $46.45 billion, a P/E ratio of 26.85, a price-to-earnings-growth ratio of 2.83 and a beta of 0.94.

Garmin (NYSE:GRMN) last announced its quarterly earnings results on Wednesday, April 29th. The scientific and technical instruments company reported $2.08 earnings per share (EPS) for the quarter, topping 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 business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter in the prior year, the company posted $1.61 earnings per share. Garmin’s revenue was up 14.0% compared to the same quarter last year. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. On average, analysts predict that Garmin Ltd. will post 9.57 EPS for the current 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.