Garmin Ltd. $GRMN Shares Purchased by Lifeworks Advisors LLC

Lifeworks Advisors LLC raised its position in shares of Garmin Ltd. (NYSE:GRMN) by 16.7% in the first quarter, HoldingsChannel.com reports. The firm owned 25,544 shares of the scientific and technical instruments company’s stock after buying an additional 3,649 shares during the period. Lifeworks Advisors LLC’s holdings in Garmin were worth $5,927,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of GRMN. State Street Corp lifted 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 valued at $1,785,304,000 after buying an additional 126,677 shares during the period. Norges Bank acquired a new position in Garmin during the fourth quarter worth about $395,234,000. Northern Trust Corp grew its holdings 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 acquiring an additional 63,283 shares during the period. Dimensional Fund Advisors LP raised its position in Garmin by 6.5% in 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 acquiring an additional 96,850 shares in the last quarter. Finally, Disciplined Growth Investors Inc. MN lifted its holdings in Garmin by 0.4% in the 2nd 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 acquiring an additional 5,213 shares during the last quarter. 81.60% of the stock is currently owned by institutional investors and hedge funds.

Garmin Trading Up 0.1%

GRMN stock opened at $243.31 on Monday. Garmin Ltd. has a one year low of $186.67 and a one year high of $273.32. The firm has a market capitalization of $46.92 billion, a PE ratio of 27.12, a P/E/G ratio of 2.87 and a beta of 0.90. The firm has a 50-day moving average of $237.87 and a two-hundred day moving average of $232.23.

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 net margin of 23.26% and a return on equity of 20.07%. The business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.72 billion. During the same period last year, the firm posted $1.61 earnings per share. The firm’s quarterly revenue was up 14.0% compared to the same quarter last year. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. On average, equities research analysts anticipate that Garmin Ltd. will post 9.53 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Joseph J. Hartnett sold 643 shares of the stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $263.57, for a total value of $169,475.51. Following the completion of the sale, the director owned 21,277 shares in the company, valued at $5,607,978.89. This represents a 2.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Douglas G. Boessen sold 2,000 shares of the firm’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $237.91, for a total value of $475,820.00. Following the completion of the sale, the chief financial officer directly owned 26,049 shares of the company’s stock, valued at approximately $6,197,317.59. This trade represents a 7.13% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 14.80% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Morgan Stanley set a $249.00 price objective on shares of Garmin in a research report on Thursday, April 30th. Wall Street Zen lowered shares of Garmin from a “buy” rating to a “hold” rating in a research note on Saturday, June 20th. JPMorgan Chase & Co. raised their target price on shares of 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 shares of Garmin from $240.00 to $238.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 30th. Finally, Zacks Research cut Garmin from a “strong-buy” rating to a “hold” rating in a report on Friday, May 1st. One equities 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 company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $269.40.

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.