Sanctuary Advisors LLC Acquires 2,661 Shares of Garmin Ltd. $GRMN

Sanctuary Advisors LLC boosted its holdings in Garmin Ltd. (NYSE:GRMN) by 17.2% in the 1st quarter, Holdings Channel.com reports. The firm owned 18,120 shares of the scientific and technical instruments company’s stock after acquiring an additional 2,661 shares during the period. Sanctuary Advisors LLC’s holdings in Garmin were worth $4,204,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. Reflection Asset Management acquired a new position in shares of Garmin during the 4th quarter worth approximately $32,000. Archer Investment Corp acquired a new stake in shares of Garmin in the first quarter valued at approximately $37,000. Atlas Capital Advisors Inc. acquired a new stake in shares of Garmin in the fourth quarter valued at approximately $34,000. Torren Management LLC bought a new stake in shares of Garmin in the fourth quarter valued at approximately $41,000. Finally, GraniteShares Advisors LLC bought a new stake in shares of Garmin in the fourth quarter valued at approximately $41,000. Institutional investors own 81.60% of the company’s stock.

Insider Buying and Selling at Garmin

In related news, Director Joseph J. Hartnett sold 643 shares of the business’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $263.57, for a total value of $169,475.51. Following the sale, the director owned 21,277 shares of the company’s stock, valued at $5,607,978.89. The trade was 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 the SEC website. Also, CFO Douglas G. Boessen sold 2,000 shares of the stock in a transaction on Friday, June 5th. The shares were sold at an average price of $237.91, for a total value of $475,820.00. Following the completion of the sale, the chief financial officer owned 26,049 shares of the company’s stock, valued at $6,197,317.59. The trade was a 7.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 14.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on GRMN shares. Morgan Stanley set a $249.00 price target on Garmin in a research report on Thursday, April 30th. Wall Street Zen downgraded Garmin from a “buy” rating to a “hold” rating in a report on Saturday, June 20th. JPMorgan Chase & Co. raised 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. Barclays lowered their price objective on shares of Garmin from $240.00 to $238.00 and set an “equal weight” rating for the company in a research report on Thursday, April 30th. Finally, Zacks Research downgraded shares of Garmin from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $269.40.

Garmin Price Performance

Garmin stock opened at $249.86 on Monday. The business has a 50 day moving average of $238.18 and a 200-day moving average of $233.65. The company has a market capitalization 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. Garmin Ltd. has a 1 year low of $186.67 and a 1 year high of $273.32.

Garmin (NYSE:GRMN) last posted its earnings results on Wednesday, April 29th. The scientific and technical instruments company reported $2.08 EPS for the quarter, topping the consensus estimate of $1.84 by $0.24. Garmin had a net margin of 23.26% and a return on equity of 20.07%. The business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.72 billion. During the same period last year, the company earned $1.61 EPS. The firm’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. Equities analysts anticipate that Garmin Ltd. will post 9.53 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.