Madison Asset Management LLC Acquires Shares of 3,651 Garmin Ltd. $GRMN

Madison Asset Management LLC bought a new stake in Garmin Ltd. (NYSE:GRMN) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 3,651 shares of the scientific and technical instruments company’s stock, valued at approximately $867,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Groupe la Francaise boosted its holdings in Garmin by 346.4% in the first quarter. Groupe la Francaise now owns 125 shares of the scientific and technical instruments company’s stock valued at $29,000 after acquiring an additional 97 shares during the last quarter. Reflection Asset Management acquired a new stake in Garmin in the fourth quarter worth about $32,000. Atlas Capital Advisors Inc. bought a new stake in Garmin during the 4th quarter worth about $34,000. Archer Investment Corp bought a new stake in Garmin during the 1st quarter worth about $37,000. Finally, Torren Management LLC acquired a new position in Garmin during the 4th quarter valued at about $41,000. Institutional investors own 81.60% of the company’s stock.

Insider Buying and Selling

In other Garmin news, Director Sean Biddlecombe sold 986 shares of Garmin stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $292.88, for a total transaction of $288,779.68. Following the transaction, the director directly owned 6,021 shares in the company, valued at approximately $1,763,430.48. The trade was a 14.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Cheng-Wei Wang sold 9,941 shares of the business’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $299.36, for a total value of $2,975,937.76. Following the completion of the transaction, the insider directly owned 29,506 shares of the company’s stock, valued at approximately $8,832,916.16. The trade was a 25.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 18,751 shares of company stock worth $5,454,095 over the last ninety days. Insiders own 14.80% of the company’s stock.

Garmin Price Performance

Shares of NYSE:GRMN opened at $294.87 on Friday. The firm’s 50 day simple moving average is $263.21 and its 200 day simple moving average is $247.31. Garmin Ltd. has a fifty-two week low of $186.67 and a fifty-two week high of $314.28. The company has a market capitalization of $56.87 billion, a price-to-earnings ratio of 30.40, a P/E/G ratio of 3.28 and a beta of 0.87.

Garmin (NYSE:GRMN) last issued its quarterly earnings data on Wednesday, July 29th. The scientific and technical instruments company reported $2.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.51. Garmin had a net margin of 24.47% and a return on equity of 20.95%. The firm had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $1.93 billion. During the same quarter in the previous year, the company earned $2.17 earnings per share. The business’s revenue for the quarter was up 11.4% on a year-over-year basis. Garmin has set its FY 2026 guidance at 10.000-10.000 EPS. Equities research analysts expect that Garmin Ltd. will post 10.08 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on GRMN. Morgan Stanley lifted their price target on shares of Garmin from $249.00 to $289.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 30th. Tigress Financial reaffirmed a “strong-buy” rating on shares of Garmin in a research note on Thursday, August 6th. UBS Group set a $370.00 price objective on shares of Garmin in a research note on Thursday, August 6th. Wall Street Zen lowered shares of Garmin from a “buy” rating to a “hold” rating in a report on Saturday, June 20th. Finally, Zacks Research raised Garmin from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 31st. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Garmin currently has an average rating of “Moderate Buy” and an average price target of $310.17.

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.