BNP Paribas Financial Markets Increases Position in Garmin Ltd. $GRMN

BNP Paribas Financial Markets raised its position in Garmin Ltd. (NYSE:GRMN) by 40.0% during the fourth quarter, Holdings Channel reports. The firm owned 298,186 shares of the scientific and technical instruments company’s stock after buying an additional 85,259 shares during the quarter. BNP Paribas Financial Markets’ holdings in Garmin were worth $60,487,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of 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 acquiring an additional 142 shares during the period. GraniteShares Advisors LLC purchased a new stake in shares of Garmin during the fourth quarter worth $41,000. Torren Management LLC purchased a new stake in shares of Garmin during the fourth quarter worth $41,000. Elyxium Wealth LLC purchased a new stake in shares of Garmin during the fourth quarter worth $60,000. Finally, Camelot Portfolios LLC purchased a new stake in shares of Garmin during the fourth quarter worth $81,000. Hedge funds and other institutional investors own 81.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on GRMN. Barclays cut their price objective 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. Zacks Research lowered Garmin from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 1st. JPMorgan Chase & Co. upped their price objective on Garmin from $265.00 to $285.00 and gave the stock a “neutral” rating in a research report on Thursday, April 16th. Tigress Financial upped their price objective on Garmin from $320.00 to $325.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, May 20th. Finally, Morgan Stanley set a $249.00 price objective on Garmin in a research report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $269.40.

Garmin Price Performance

NYSE:GRMN opened at $240.84 on Wednesday. The firm has a market capitalization of $46.45 billion, a PE ratio of 26.85, a price-to-earnings-growth ratio of 2.80 and a beta of 0.91. The business’s fifty day moving average price is $244.60 and its 200 day moving average price is $224.15. Garmin Ltd. has a 12 month low of $186.67 and a 12 month 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, beating the consensus estimate of $1.84 by $0.24. The firm had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.72 billion. Garmin had a return on equity of 20.07% and a net margin of 23.26%.Garmin’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.61 earnings per share. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. As a group, equities analysts anticipate that Garmin Ltd. will post 9.53 EPS for the current year.

About Garmin

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.