Fideuram Asset Management Ireland dac Buys New Shares in Garmin Ltd. $GRMN

Fideuram Asset Management Ireland dac bought a new stake in Garmin Ltd. (NYSE:GRMN) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 16,482 shares of the scientific and technical instruments company’s stock, valued at approximately $3,343,000.

A number of other institutional investors also recently bought and sold shares of the business. National Pension Service lifted its holdings in Garmin by 12.7% during the 4th quarter. National Pension Service now owns 329,090 shares of the scientific and technical instruments company’s stock worth $66,756,000 after buying an additional 37,212 shares during the last quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. purchased a new stake in Garmin during the 4th quarter worth about $251,000. Northwestern Mutual Wealth Management Co. lifted its holdings in Garmin by 17.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 10,314 shares of the scientific and technical instruments company’s stock worth $2,092,000 after buying an additional 1,529 shares during the last quarter. Intech Investment Management LLC lifted its holdings in Garmin by 144.4% during the 4th quarter. Intech Investment Management LLC now owns 27,839 shares of the scientific and technical instruments company’s stock worth $5,647,000 after buying an additional 16,447 shares during the last quarter. Finally, King Luther Capital Management Corp lifted its holdings in Garmin by 1.7% during the 4th quarter. King Luther Capital Management Corp now owns 9,077 shares of the scientific and technical instruments company’s stock worth $1,841,000 after buying an additional 148 shares during the last quarter. 81.60% of the stock is owned by hedge funds and other institutional investors.

Garmin Stock Performance

Garmin stock opened at $236.19 on Friday. Garmin Ltd. has a fifty-two week low of $186.67 and a fifty-two week high of $273.32. The company has a market capitalization of $45.55 billion, a P/E ratio of 26.33, a PEG ratio of 2.80 and a beta of 0.94. The stock has a 50-day simple moving average of $244.50 and a 200-day simple moving average of $223.67.

Garmin (NYSE:GRMN) last posted its 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. Garmin had a return on equity of 20.07% and a net margin of 23.26%.The business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.72 billion. During the same period in the previous year, the business earned $1.61 EPS. The business’s quarterly revenue was up 14.0% on a year-over-year basis. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. As a group, analysts forecast that Garmin Ltd. will post 9.57 earnings per share for the current year.

Wall Street Analyst Weigh In

GRMN has been the subject of a number of recent analyst reports. Tigress Financial lifted their price target on Garmin from $320.00 to $325.00 and gave the stock a “strong-buy” rating in a report on Wednesday, May 20th. JPMorgan Chase & Co. lifted their price target on Garmin from $265.00 to $285.00 and gave the stock a “neutral” rating in a report on Thursday, April 16th. Barclays decreased their price target on Garmin from $240.00 to $238.00 and set an “equal weight” rating for the company in a report on Thursday, April 30th. Zacks Research downgraded Garmin from a “strong-buy” rating to a “hold” rating in a report on Friday, May 1st. Finally, Morgan Stanley set a $249.00 price target on Garmin in a report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $269.40.

Garmin Company 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.