Garmin Ltd. $GRMN Shares Bought by Herbst Group LLC

Herbst Group LLC increased its holdings in shares of Garmin Ltd. (NYSE:GRMN) by 41.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,800 shares of the scientific and technical instruments company’s stock after acquiring an additional 1,700 shares during the period. Herbst Group LLC’s holdings in Garmin were worth $1,378,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in GRMN. Sax Wealth Advisors LLC increased its stake in Garmin by 38.0% in the 2nd quarter. Sax Wealth Advisors LLC now owns 1,851 shares of the scientific and technical instruments company’s stock valued at $429,000 after purchasing an additional 510 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its stake in Garmin by 15.2% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,047 shares of the scientific and technical instruments company’s stock valued at $249,000 after purchasing an additional 138 shares during the last quarter. Czech National Bank raised its position in shares of Garmin by 4.8% in the second quarter. Czech National Bank now owns 46,660 shares of the scientific and technical instruments company’s stock valued at $11,084,000 after buying an additional 2,136 shares during the last quarter. 180 Wealth Advisors LLC raised its holdings in Garmin by 15.8% in the 2nd quarter. 180 Wealth Advisors LLC now owns 1,142 shares of the scientific and technical instruments company’s stock valued at $271,000 after acquiring an additional 156 shares during the last quarter. Finally, Trust Asset Management LLC increased its stake in Garmin by 4.5% in the second quarter. Trust Asset Management LLC now owns 1,792 shares of the scientific and technical instruments company’s stock valued at $426,000 after purchasing an additional 77 shares during the last quarter. 81.60% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Clifton A. Pemble sold 4,029 shares of the company’s stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $300.00, for a total transaction of $1,208,700.00. Following the completion of the sale, the chief executive officer directly owned 120,127 shares of the company’s stock, valued at approximately $36,038,100. This represents a 3.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Joshua H. Maxfield sold 1,152 shares of the stock in a transaction on Friday, July 31st. The shares were sold at an average price of $291.13, for a total value of $335,381.76. Following the completion of the sale, the vice president owned 15,042 shares of the company’s stock, valued at approximately $4,379,177.46. This represents a 7.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 8,810 shares of company stock worth $2,478,157. 14.80% of the stock is owned by company insiders.

Garmin Stock Performance

GRMN opened at $311.33 on Monday. The firm has a 50 day moving average price of $249.83 and a 200 day moving average price of $240.56. The company has a market cap of $60.04 billion, a PE ratio of 32.10, a price-to-earnings-growth ratio of 3.47 and a beta of 0.87. Garmin Ltd. has a 1 year low of $186.67 and a 1 year high of $312.70.

Garmin (NYSE:GRMN) last posted its quarterly earnings results on Wednesday, July 29th. The scientific and technical instruments company reported $2.81 EPS for the quarter, beating the consensus estimate of $2.30 by $0.51. The firm had revenue of $2.02 billion for the quarter, compared to analyst estimates of $1.93 billion. Garmin had a net margin of 24.47% and a return on equity of 20.95%. Garmin’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter last year, the firm posted $2.17 earnings per share. Garmin has set its FY 2026 guidance at 10.000-10.000 EPS. On average, sell-side analysts predict that Garmin Ltd. will post 10.1 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have issued reports on the company. UBS Group set a $370.00 price target on Garmin in a research note on Thursday. Morgan Stanley upped their price objective on shares of Garmin from $249.00 to $289.00 and gave the company an “equal weight” rating in a research note on Thursday, July 30th. Tigress Financial reiterated a “strong-buy” rating on shares of Garmin in a report on Thursday. Wall Street Zen cut shares of Garmin from a “buy” rating to a “hold” rating in a research report on Saturday, June 20th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Garmin from $265.00 to $285.00 and gave the company a “neutral” rating in a report on Thursday, April 16th. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $310.17.

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.