Garmin Ltd. $GRMN Shares Acquired by National Pension Service

National Pension Service lifted its position in shares of Garmin Ltd. (NYSE:GRMN) by 12.7% during the fourth quarter, Holdings Channel reports. The firm owned 329,090 shares of the scientific and technical instruments company’s stock after acquiring an additional 37,212 shares during the quarter. National Pension Service’s holdings in Garmin were worth $66,756,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in GRMN. Cornerstone Planning Group LLC increased its position in shares of Garmin by 788.9% during 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 acquired a new stake in shares of Garmin during the fourth quarter worth about $41,000. Torren Management LLC acquired a new stake in shares of Garmin during the fourth quarter worth about $41,000. Elyxium Wealth LLC acquired a new stake in shares of Garmin during the fourth quarter worth about $60,000. Finally, Camelot Portfolios LLC acquired a new stake in shares of Garmin during the fourth quarter worth about $81,000. Institutional investors and hedge funds own 81.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Morgan Stanley set a $249.00 target price on Garmin in a research report on Thursday, April 30th. Tigress Financial lifted their target price on Garmin from $320.00 to $325.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, May 20th. Zacks Research cut Garmin from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 1st. 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 report on Thursday, April 16th. Finally, Barclays cut their target price on Garmin from $240.00 to $238.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $269.40.

Garmin Stock Down 1.0%

Shares of GRMN stock opened at $234.00 on Friday. The stock has a market capitalization of $45.13 billion, a PE ratio of 26.09, a price-to-earnings-growth ratio of 2.76 and a beta of 0.94. Garmin Ltd. has a 52-week low of $186.67 and a 52-week high of $273.32. The stock’s 50-day moving average price is $244.55 and its 200 day moving average price is $223.74.

Garmin (NYSE:GRMN) last issued its quarterly earnings results on Wednesday, April 29th. The scientific and technical instruments company reported $2.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.24. The firm had revenue of $1.75 billion for the quarter, compared to analysts’ expectations 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 previous year, the firm posted $1.61 EPS. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. Analysts expect that Garmin Ltd. will post 9.53 earnings per share for the current fiscal 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.