Wealthfront Advisers LLC Purchases 2,575 Shares of Garmin Ltd. $GRMN

Wealthfront Advisers LLC increased its holdings in shares of Garmin Ltd. (NYSE:GRMN) by 8.1% in the first quarter, HoldingsChannel reports. The firm owned 34,483 shares of the scientific and technical instruments company’s stock after buying an additional 2,575 shares during the period. Wealthfront Advisers LLC’s holdings in Garmin were worth $8,000,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp raised its stake in 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 valued at $1,785,304,000 after acquiring an additional 126,677 shares during the period. Norges Bank acquired a new stake in Garmin during the 4th quarter valued at $395,234,000. Northern Trust Corp boosted its position in Garmin by 3.8% during the fourth quarter. Northern Trust Corp now owns 1,719,677 shares of the scientific and technical instruments company’s stock worth $348,836,000 after purchasing an additional 63,283 shares during the period. Dimensional Fund Advisors LP boosted its position in Garmin by 6.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,591,369 shares of the scientific and technical instruments company’s stock worth $322,837,000 after purchasing an additional 96,850 shares during the period. Finally, Disciplined Growth Investors Inc. MN increased its holdings in shares of Garmin by 0.4% in the second 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 purchasing an additional 5,213 shares during the last quarter. 81.60% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Joseph J. Hartnett sold 643 shares of Garmin stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $263.57, for a total transaction of $169,475.51. Following the completion of the transaction, the director owned 21,277 shares of the company’s stock, valued at $5,607,978.89. This trade represents a 2.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Douglas G. Boessen sold 2,000 shares of the business’s stock in a transaction 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 transaction, the chief financial officer owned 26,049 shares in the company, valued at approximately $6,197,317.59. The trade was a 7.13% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 14.80% of the company’s stock.

Garmin Price Performance

Shares of GRMN opened at $249.86 on Friday. The business has a 50-day moving average of $238.18 and a 200-day moving average of $233.46. The company has a market capitalization of $48.19 billion, a price-to-earnings ratio of 27.85, a price-to-earnings-growth ratio of 2.97 and a beta of 0.90. Garmin Ltd. has a 1 year low of $186.67 and a 1 year high of $273.32.

Garmin (NYSE:GRMN) last announced 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 business had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.72 billion. Garmin had a return on equity of 20.07% and a net margin of 23.26%.The firm’s revenue was up 14.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.61 earnings per share. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. As a group, sell-side analysts anticipate that Garmin Ltd. will post 9.53 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently commented on GRMN. Morgan Stanley set a $249.00 target price on Garmin in a research report on Thursday, April 30th. JPMorgan Chase & Co. lifted their target price on Garmin from $265.00 to $285.00 and gave the stock a “neutral” rating in a report on Thursday, April 16th. Weiss Ratings reissued a “buy (b)” rating on shares of Garmin in a research report on Monday, June 8th. Wall Street Zen downgraded shares of Garmin from a “buy” rating to a “hold” rating in a research note on Saturday, June 20th. Finally, Zacks Research lowered shares of Garmin from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 1st. One equities 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $269.40.

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.