Westfield Capital Management Co. LP Invests $68.11 Million in Garmin Ltd. $GRMN

Westfield Capital Management Co. LP purchased a new position in shares of Garmin Ltd. (NYSE:GRMN) during the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 335,744 shares of the scientific and technical instruments company’s stock, valued at approximately $68,106,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Regency Capital Management Inc. DE acquired a new position in shares of Garmin during the 4th quarter worth $2,731,000. Daiwa Securities Group Inc. raised its position in shares of Garmin by 2.3% in the fourth quarter. Daiwa Securities Group Inc. now owns 38,340 shares of the scientific and technical instruments company’s stock valued at $7,778,000 after buying an additional 866 shares during the last quarter. State of Wyoming raised its position in shares of Garmin by 26.2% in the fourth quarter. State of Wyoming now owns 352 shares of the scientific and technical instruments company’s stock valued at $71,000 after buying an additional 73 shares during the last quarter. Lido Advisors LLC raised its position in shares of Garmin by 2.0% in the fourth quarter. Lido Advisors LLC now owns 7,660 shares of the scientific and technical instruments company’s stock valued at $1,554,000 after buying an additional 150 shares during the last quarter. Finally, CIBC Asset Management Inc raised its position in shares of Garmin by 103.0% in the fourth quarter. CIBC Asset Management Inc now owns 33,568 shares of the scientific and technical instruments company’s stock valued at $6,809,000 after buying an additional 17,030 shares during the last quarter. 81.60% of the stock is owned by institutional investors and hedge funds.

Garmin Price Performance

Shares of GRMN stock opened at $236.62 on Friday. The firm has a market cap of $45.63 billion, a P/E ratio of 26.38, a PEG ratio of 2.86 and a beta of 0.91. Garmin Ltd. has a 1-year low of $186.67 and a 1-year high of $273.32. The firm’s 50-day simple moving average is $244.62 and its 200-day simple moving average is $225.18.

Garmin (NYSE:GRMN) last posted its quarterly 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. Garmin had a net margin of 23.26% and a return on equity of 20.07%. The firm had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same quarter last year, the firm posted $1.61 earnings per share. Garmin’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. Analysts expect that Garmin Ltd. will post 9.53 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on GRMN. Barclays cut 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 report on Thursday, April 30th. Morgan Stanley set a $249.00 price objective on shares of Garmin in a research report on Thursday, April 30th. JPMorgan Chase & Co. boosted their price objective on shares of Garmin from $265.00 to $285.00 and gave the company a “neutral” rating in a research report on Thursday, April 16th. Tigress Financial boosted their price objective 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, Zacks Research lowered shares of Garmin from a “strong-buy” rating to a “hold” rating in a report on Friday, May 1st. One investment 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.