Intech Investment Management LLC Acquires 16,447 Shares of Garmin Ltd. $GRMN

Intech Investment Management LLC grew its holdings in Garmin Ltd. (NYSE:GRMN) by 144.4% in the fourth quarter, Holdings Channel reports. The firm owned 27,839 shares of the scientific and technical instruments company’s stock after buying an additional 16,447 shares during the quarter. Intech Investment Management LLC’s holdings in Garmin were worth $5,647,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of Garmin by 2.5% in 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 grew its holdings in shares of Garmin by 1.8% in the third 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 acquiring an additional 126,677 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Garmin by 1.1% in the third quarter. Dimensional Fund Advisors LP now owns 1,494,519 shares of the scientific and technical instruments company’s stock worth $367,964,000 after acquiring an additional 16,622 shares during the period. Disciplined Growth Investors Inc. MN grew 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 worth $296,250,000 after acquiring an additional 5,213 shares during the period. Finally, AQR Capital Management LLC grew its holdings in shares of Garmin by 15.7% in the third quarter. AQR Capital Management LLC now owns 1,348,955 shares of the scientific and technical instruments company’s stock worth $330,373,000 after acquiring an additional 182,548 shares during the period. Institutional investors own 81.60% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the company. Barclays cut their price objective on Garmin from $240.00 to $238.00 and set an “equal weight” rating for the company in a report on Thursday, April 30th. Morgan Stanley set a $249.00 price objective on Garmin in a report on Thursday, April 30th. Tigress Financial lifted their price objective on Garmin from $320.00 to $325.00 and gave the stock a “strong-buy” rating in a report on Wednesday, May 20th. Zacks Research lowered Garmin from a “strong-buy” rating to a “hold” rating in a report on Friday, May 1st. Finally, JPMorgan Chase & Co. boosted their price target on Garmin from $265.00 to $285.00 and gave the company a “neutral” rating in a report on Thursday, April 16th. One 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 company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $269.40.

Garmin Stock Performance

NYSE:GRMN opened at $234.00 on Monday. The stock has a 50-day simple moving average of $244.55 and a two-hundred day simple moving average of $223.89. Garmin Ltd. has a 52-week low of $186.67 and a 52-week high of $273.32. The firm has a market capitalization of $45.13 billion, a PE ratio of 26.09, a P/E/G ratio of 2.76 and a beta of 0.91.

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 (EPS) 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 analyst estimates of $1.72 billion. During the same quarter in the previous year, the company posted $1.61 earnings per share. Garmin’s revenue for the quarter was up 14.0% on a year-over-year basis. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. Equities analysts forecast that Garmin Ltd. will post 9.53 earnings per share for the current fiscal 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.