Peterson Wealth Services Has $3.66 Million Stock Position in Garmin Ltd. $GRMN

Peterson Wealth Services increased its position in shares of Garmin Ltd. (NYSE:GRMN) by 7,885.4% in the fourth quarter, HoldingsChannel reports. The firm owned 18,047 shares of the scientific and technical instruments company’s stock after purchasing an additional 17,821 shares during the period. Garmin makes up approximately 0.9% of Peterson Wealth Services’ investment portfolio, making the stock its 27th biggest holding. Peterson Wealth Services’ holdings in Garmin were worth $3,661,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Garmin by 2.5% during the 3rd quarter. Vanguard Group Inc. now owns 20,197,564 shares of the scientific and technical instruments company’s stock worth $4,973,044,000 after purchasing an additional 499,235 shares in the last quarter. State Street Corp increased its position in shares of Garmin by 1.8% during the 3rd quarter. State Street Corp now owns 7,250,844 shares of the scientific and technical instruments company’s stock worth $1,785,304,000 after purchasing an additional 126,677 shares in the last quarter. Norges Bank acquired a new stake in shares of Garmin during the 4th quarter worth about $395,234,000. Dimensional Fund Advisors LP increased its position in Garmin by 1.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,494,519 shares of the scientific and technical instruments company’s stock valued at $367,964,000 after acquiring an additional 16,622 shares in the last quarter. Finally, Disciplined Growth Investors Inc. MN increased its position in Garmin by 0.4% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 1,419,365 shares of the scientific and technical instruments company’s stock valued at $296,250,000 after acquiring an additional 5,213 shares in the last quarter. Institutional investors and hedge funds own 81.60% of the company’s stock.

Insider Activity at Garmin

In other news, CFO Douglas G. Boessen sold 2,000 shares of Garmin stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $237.91, for a total transaction of $475,820.00. Following the completion of the sale, the chief financial officer owned 26,049 shares in the company, valued at $6,197,317.59. The trade was a 7.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Joseph J. Hartnett sold 643 shares of Garmin stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $263.57, for a total transaction of $169,475.51. Following the sale, the director owned 21,277 shares of the company’s stock, valued at approximately $5,607,978.89. This represents a 2.93% decrease in their position. The SEC filing for this sale provides additional information. 15.38% of the stock is owned by insiders.

Garmin Price Performance

Shares of NYSE:GRMN opened at $238.58 on Friday. Garmin Ltd. has a one year low of $186.67 and a one year high of $273.32. The company has a 50 day moving average of $245.01 and a 200-day moving average of $226.73. The stock has a market cap of $46.01 billion, a price-to-earnings ratio of 26.60, a P/E/G ratio of 2.74 and a beta of 0.91.

Garmin (NYSE:GRMN) last issued its quarterly 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 company had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter in the previous year, the company earned $1.61 EPS. Garmin’s revenue was up 14.0% on a year-over-year basis. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. Equities research analysts anticipate that Garmin Ltd. will post 9.53 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on GRMN shares. Zacks Research cut shares of Garmin from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 1st. 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. Wall Street Zen upgraded shares of Garmin from a “hold” rating to a “buy” rating in a research report on Saturday, June 6th. Weiss Ratings restated a “buy (b)” rating on shares of Garmin in a research report on Monday. Finally, Tigress Financial raised their price objective on shares of Garmin from $320.00 to $325.00 and gave the company a “strong-buy” rating in a research report on Wednesday, May 20th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $269.40.

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.