Hantz Financial Services Inc. Sells 6,987 Shares of Garmin Ltd. $GRMN

Hantz Financial Services Inc. cut its stake in Garmin Ltd. (NYSE:GRMN) by 22.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,161 shares of the scientific and technical instruments company’s stock after selling 6,987 shares during the period. Hantz Financial Services Inc.’s holdings in Garmin were worth $4,901,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC grew its holdings in Garmin by 788.9% during the 3rd quarter. Cornerstone Planning Group LLC now owns 160 shares of the scientific and technical instruments company’s stock worth $39,000 after acquiring an additional 142 shares in the last quarter. Torren Management LLC bought a new position in Garmin during the 4th quarter worth about $41,000. GraniteShares Advisors LLC bought a new position in Garmin during the 4th quarter worth about $41,000. Elyxium Wealth LLC bought a new position in Garmin during the 4th quarter worth about $60,000. Finally, Hazlett Burt & Watson Inc. bought a new position in Garmin during the 3rd quarter worth about $97,000. 81.60% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

GRMN has been the topic of several recent research reports. JPMorgan Chase & Co. increased their target price on shares of Garmin from $265.00 to $285.00 and gave the stock a “neutral” rating in a report on Thursday, April 16th. Zacks Research cut shares of Garmin from a “strong-buy” rating to a “hold” rating in a report on Friday, May 1st. Barclays dropped their target price on shares of Garmin from $240.00 to $238.00 and set an “equal weight” rating on the stock in a report on Thursday, April 30th. Tigress Financial increased their target price on shares of Garmin from $320.00 to $325.00 and gave the stock a “strong-buy” rating in a report on Wednesday, May 20th. Finally, Morgan Stanley set a $249.00 target price on shares of Garmin in a report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $269.40.

Garmin Stock Performance

NYSE:GRMN opened at $240.83 on Tuesday. Garmin Ltd. has a fifty-two week low of $186.67 and a fifty-two week high of $273.32. The stock has a market capitalization of $46.45 billion, a P/E ratio of 26.85, a P/E/G ratio of 2.83 and a beta of 0.94. The company’s 50-day simple moving average is $244.30 and its 200-day simple moving average is $222.95.

Garmin (NYSE:GRMN) last released its quarterly earnings results on Wednesday, April 29th. The scientific and technical instruments company reported $2.08 earnings per share for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $1.72 billion. During the same period last year, the business earned $1.61 EPS. The company’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, research analysts forecast that Garmin Ltd. will post 9.57 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Matthew Munn sold 5,275 shares of the firm’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $250.97, for a total value of $1,323,866.75. Following the sale, the executive vice president directly owned 9,876 shares in the company, valued at approximately $2,478,579.72. This trade represents a 34.82% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Susan Lyman sold 3,805 shares of Garmin stock in a transaction that occurred 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 of the company’s stock, valued at $1,877,611.72. This trade represents a 33.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 39,175 shares of company stock worth $9,852,187. Insiders own 15.38% of the company’s stock.

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.