Louisiana State Employees Retirement System Takes $1.93 Million Position in Garmin Ltd. $GRMN

Louisiana State Employees Retirement System purchased a new position in Garmin Ltd. (NYSE:GRMN) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 8,300 shares of the scientific and technical instruments company’s stock, valued at approximately $1,926,000.

Several other institutional investors have also made changes to their positions in the stock. Reflection Asset Management purchased a new position in Garmin during the fourth quarter valued at approximately $32,000. Atlas Capital Advisors Inc. purchased a new stake in Garmin in the 4th quarter worth approximately $34,000. GraniteShares Advisors LLC acquired a new stake in shares of Garmin during the 4th quarter valued at $41,000. Torren Management LLC acquired a new stake in shares of Garmin during the 4th quarter valued at $41,000. Finally, SHP Wealth Management purchased a new position in shares of Garmin during the 4th quarter valued at $44,000. 81.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GRMN has been the topic of a number of research reports. Tigress Financial upped their price target on shares of Garmin from $320.00 to $325.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, May 20th. JPMorgan Chase & Co. lifted their price objective on Garmin from $265.00 to $285.00 and gave the company a “neutral” rating in a research report on Thursday, April 16th. Barclays dropped 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. Wall Street Zen downgraded Garmin from a “buy” rating to a “hold” rating in a research note on Saturday, June 20th. Finally, Zacks Research lowered Garmin from a “strong-buy” rating to a “hold” rating in a report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $269.40.

Garmin Stock Up 1.6%

Shares of GRMN opened at $237.40 on Wednesday. The firm has a market cap of $45.79 billion, a price-to-earnings ratio of 26.47, a price-to-earnings-growth ratio of 2.76 and a beta of 0.91. The company’s fifty day moving average is $240.58 and its 200-day moving average is $230.13. Garmin Ltd. has a 12 month low of $186.67 and a 12 month high of $273.32.

Garmin (NYSE:GRMN) last released 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 the consensus estimate of $1.84 by $0.24. The business had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.72 billion. Garmin had a net margin of 23.26% and a return on equity of 20.07%. Garmin’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.61 EPS. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. As a group, research analysts predict that Garmin Ltd. will post 9.53 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Joseph J. Hartnett sold 643 shares of the company’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $263.57, for a total transaction of $169,475.51. Following the completion of the sale, the director owned 21,277 shares in the company, valued at approximately $5,607,978.89. This represents a 2.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Douglas G. Boessen sold 2,000 shares of the stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $237.91, for a total value 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 position. Additional details regarding this sale are available in the official SEC disclosure. 19.54% of the stock is owned by company insiders.

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.