MV Capital Management Inc. Acquires Shares of 16,254 Garmin Ltd. $GRMN

MV Capital Management Inc. acquired a new stake in shares of Garmin Ltd. (NYSE:GRMN) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 16,254 shares of the scientific and technical instruments company’s stock, valued at approximately $3,297,000.

A number of other institutional investors have also recently made changes to their positions in GRMN. Atlas Capital Advisors Inc. purchased a new position in Garmin during the 4th quarter valued at approximately $34,000. GraniteShares Advisors LLC purchased a new stake in shares of Garmin during the 4th quarter worth approximately $41,000. Torren Management LLC bought a new position in shares of Garmin during the 4th quarter valued at approximately $41,000. DV Equities LLC purchased a new position in shares of Garmin in the fourth quarter valued at $46,000. Finally, Itau Unibanco Holding S.A. grew its holdings in shares of Garmin by 23.0% in the fourth quarter. Itau Unibanco Holding S.A. now owns 283 shares of the scientific and technical instruments company’s stock valued at $57,000 after purchasing an additional 53 shares in the last quarter. Hedge funds and other institutional investors own 81.60% of the company’s stock.

Analyst Ratings Changes

GRMN has been the topic of a number of recent research reports. Zacks Research downgraded shares of Garmin from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. Barclays dropped 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 note on Thursday, April 30th. JPMorgan Chase & Co. boosted 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. Tigress Financial upped their target price 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. Finally, Morgan Stanley set a $249.00 price target on shares of Garmin in a report on Thursday, April 30th. One equities 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 stock. Based on data from MarketBeat.com, Garmin presently has an average rating of “Moderate Buy” and an average target price of $269.40.

Insider Buying and Selling at Garmin

In other news, Director Joseph J. Hartnett sold 643 shares of the firm’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $263.57, for a total value of $169,475.51. Following the completion of the sale, the director owned 21,277 shares in the company, valued at approximately $5,607,978.89. This trade represents a 2.93% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Douglas G. Boessen sold 2,000 shares of the firm’s stock in a transaction dated Friday, June 5th. The stock was 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 of the company’s stock, valued at $6,197,317.59. This trade represents a 7.13% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 15.38% of the company’s stock.

Garmin Stock Performance

NYSE GRMN opened at $234.22 on Friday. The company has a market cap of $45.17 billion, a P/E ratio of 26.11, a P/E/G ratio of 2.74 and a beta of 0.91. The business’s 50 day moving average price is $244.64 and its 200-day moving average price is $228.19. Garmin Ltd. has a fifty-two week low of $186.67 and a fifty-two week high of $273.32.

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 the consensus estimate of $1.84 by $0.24. The company 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 quarterly revenue was up 14.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.61 EPS. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. As a group, equities analysts predict that Garmin Ltd. will post 9.53 EPS for the current year.

Garmin 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.