Moran Wealth Management LLC Decreases Position in Garmin Ltd. $GRMN

Moran Wealth Management LLC decreased its position in Garmin Ltd. (NYSE:GRMN) by 58.7% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 75,045 shares of the scientific and technical instruments company’s stock after selling 106,739 shares during the period. Moran Wealth Management LLC’s holdings in Garmin were worth $17,411,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in GRMN. State Street Corp boosted its position in shares of Garmin by 1.8% in 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 buying an additional 126,677 shares in the last quarter. Norges Bank acquired a new stake in Garmin in the 4th quarter valued at about $395,234,000. Northern Trust Corp increased its holdings in Garmin by 3.8% during the 4th quarter. Northern Trust Corp now owns 1,719,677 shares of the scientific and technical instruments company’s stock valued at $348,836,000 after acquiring an additional 63,283 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Garmin by 6.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,591,369 shares of the scientific and technical instruments company’s stock valued at $322,837,000 after acquiring an additional 96,850 shares in the last quarter. Finally, Disciplined Growth Investors Inc. MN raised its position in Garmin by 0.4% during the second quarter. Disciplined Growth Investors Inc. MN now owns 1,419,365 shares of the scientific and technical instruments company’s stock worth $296,250,000 after acquiring an additional 5,213 shares during the last quarter. Hedge funds and other institutional investors own 81.60% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on GRMN shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Garmin in a report on Monday, June 8th. Wall Street Zen cut shares of Garmin from a “buy” rating to a “hold” rating in a research note on Saturday, June 20th. JPMorgan Chase & Co. lifted 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 target price on Garmin from $320.00 to $325.00 and gave the company a “strong-buy” rating in a research note on Wednesday, May 20th. Finally, Zacks Research cut Garmin from a “strong-buy” rating to a “hold” rating in a report on Friday, May 1st. 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. Based on data from MarketBeat.com, Garmin presently has an average rating of “Moderate Buy” and an average target price of $269.40.

Garmin Stock Up 0.0%

Shares of NYSE:GRMN opened at $240.03 on Friday. The company has a market cap of $46.29 billion, a P/E ratio of 26.76, a P/E/G ratio of 2.84 and a beta of 0.90. The business has a fifty day simple moving average of $238.95 and a 200-day simple moving average of $230.61. Garmin Ltd. has a 52 week low of $186.67 and a 52 week high of $273.32.

Garmin (NYSE:GRMN) last released its earnings results on Wednesday, April 29th. The scientific and technical instruments company reported $2.08 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.24. Garmin had a return on equity of 20.07% and a net margin of 23.26%.The firm had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.72 billion. During the same period in the prior year, the business posted $1.61 earnings per share. The firm’s revenue for the quarter was up 14.0% compared to the same quarter last year. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. Sell-side analysts expect that Garmin Ltd. will post 9.53 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Joseph J. Hartnett sold 643 shares of the business’s stock in a transaction that occurred on 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 directly owned 21,277 shares in the company, valued at approximately $5,607,978.89. The trade was a 2.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Douglas G. Boessen sold 2,000 shares of the stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $237.91, for a total transaction of $475,820.00. Following the transaction, the chief financial officer directly owned 26,049 shares in the company, valued at approximately $6,197,317.59. This 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.

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.