Garmin Ltd. $GRMN Shares Acquired by Weiss Asset Management LP

Weiss Asset Management LP lifted its stake in Garmin Ltd. (NYSE:GRMN) by 9.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 27,900 shares of the scientific and technical instruments company’s stock after purchasing an additional 2,389 shares during the quarter. Weiss Asset Management LP’s holdings in Garmin were worth $6,473,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Reflection Asset Management acquired a new stake in shares of Garmin in the 4th quarter worth $32,000. Archer Investment Corp acquired a new position in shares of Garmin during the 1st quarter valued at about $37,000. Atlas Capital Advisors Inc. acquired a new position in shares of Garmin during the 4th quarter valued at about $34,000. Cassaday & Co Wealth Management LLC purchased a new stake in shares of Garmin in the first quarter valued at about $44,000. Finally, Avalon Trust Co purchased a new stake in shares of Garmin in the first quarter valued at about $47,000. Hedge funds and other institutional investors own 81.60% of the company’s stock.

Analyst Upgrades and Downgrades

GRMN has been the topic of a number of analyst reports. Morgan Stanley set a $249.00 target price on shares of Garmin in a research note on Thursday, April 30th. JPMorgan Chase & Co. increased their price target on shares of Garmin from $265.00 to $285.00 and gave the company a “neutral” rating in a research note on Thursday, April 16th. Barclays reduced 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. Wall Street Zen cut Garmin from a “buy” rating to a “hold” rating in a report on Saturday, June 20th. Finally, Zacks Research lowered Garmin from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 1st. One 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 stock. Based on data from MarketBeat, Garmin currently has a consensus rating of “Moderate Buy” and a consensus price target of $269.40.

Garmin Trading Up 1.1%

Shares of GRMN opened at $242.82 on Friday. The company’s 50-day moving average price is $238.82 and its 200 day moving average price is $234.76. Garmin Ltd. has a 12-month low of $186.67 and a 12-month high of $273.32. The firm has a market cap of $46.83 billion, a P/E ratio of 27.07, a price-to-earnings-growth ratio of 2.87 and a beta of 0.90.

Garmin (NYSE:GRMN) last issued its quarterly earnings data on Wednesday, April 29th. The scientific and technical instruments company reported $2.08 EPS for the quarter, topping the consensus estimate of $1.84 by $0.24. The firm had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.72 billion. Garmin had a net margin of 23.26% and a return on equity of 20.07%. The business’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.61 EPS. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. Equities research analysts forecast that Garmin Ltd. will post 9.53 earnings per share for the current year.

Insider Buying and Selling

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

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.