Garmin Ltd. $GRMN Stock: Columbus Macro LLC Boosts Position

Columbus Macro LLC raised its holdings in Garmin Ltd. (NYSE:GRMN) by 25.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,753 shares of the scientific and technical instruments company’s stock after purchasing an additional 3,564 shares during the period. Columbus Macro LLC’s holdings in Garmin were worth $5,092,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Westmount Partners LLC increased its stake in shares of Garmin by 1.9% in the first quarter. Westmount Partners LLC now owns 2,205 shares of the scientific and technical instruments company’s stock worth $512,000 after buying an additional 42 shares during the last quarter. Caldwell Trust Co raised its stake in shares of Garmin by 4.4% in the 1st quarter. Caldwell Trust Co now owns 1,023 shares of the scientific and technical instruments company’s stock valued at $237,000 after purchasing an additional 43 shares in the last quarter. Green Alpha Advisors LLC raised its stake in shares of Garmin by 0.7% in the 3rd quarter. Green Alpha Advisors LLC now owns 6,324 shares of the scientific and technical instruments company’s stock valued at $1,814,000 after purchasing an additional 43 shares in the last quarter. HHM Wealth Advisors LLC lifted its position in shares of Garmin by 6.9% during the first quarter. HHM Wealth Advisors LLC now owns 698 shares of the scientific and technical instruments company’s stock worth $162,000 after purchasing an additional 45 shares during the last quarter. Finally, Fulton Bank N.A. lifted its position in shares of Garmin by 2.9% during the first quarter. Fulton Bank N.A. now owns 1,672 shares of the scientific and technical instruments company’s stock worth $388,000 after purchasing an additional 47 shares during the last quarter. 81.60% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Cheng-Wei Wang sold 9,941 shares of the company’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $299.36, for a total transaction of $2,975,937.76. Following the completion of the transaction, the insider directly owned 29,506 shares in the company, valued at $8,832,916.16. This represents a 25.20% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Sean Biddlecombe sold 986 shares of the stock in a transaction on Friday, July 31st. The stock was sold at an average price of $292.88, for a total value of $288,779.68. Following the completion of the sale, the director directly owned 6,021 shares in the company, valued at $1,763,430.48. This represents a 14.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 16,108 shares of company stock worth $4,808,799. 14.80% of the stock is owned by company insiders.

Garmin Stock Up 1.1%

Shares of NYSE:GRMN traded up $3.00 on Wednesday, reaching $279.41. 947,987 shares of the company’s stock were exchanged, compared to its average volume of 895,241. The business’s 50-day moving average is $287.15 and its two-hundred day moving average is $260.34. Garmin Ltd. has a fifty-two week low of $186.67 and a fifty-two week high of $314.28. The firm has a market capitalization of $53.88 billion, a price-to-earnings ratio of 28.81, a PEG ratio of 2.98 and a beta of 0.82.

Garmin (NYSE:GRMN) last posted its quarterly earnings results on Thursday, July 30th. The scientific and technical instruments company reported $2.81 EPS for the quarter, beating the consensus estimate of $2.30 by $0.51. Garmin had a net margin of 24.47% and a return on equity of 20.95%. The business had revenue of $2.02 billion during the quarter, compared to analyst estimates of $1.93 billion. During the same period in the previous year, the business posted $2.17 EPS. The company’s quarterly revenue was up 11.4% on a year-over-year basis. Analysts predict that Garmin Ltd. will post 10.08 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on GRMN shares. Wall Street Zen downgraded Garmin from a “buy” rating to a “hold” rating in a research note on Saturday, June 20th. Arete Research began coverage on Garmin in a research note on Wednesday. They set a “buy” rating and a $335.00 price objective on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Garmin in a research note on Friday, September 4th. UBS Group set a $370.00 target price on Garmin in a report on Thursday, August 6th. Finally, Barclays lifted their target price on Garmin from $238.00 to $297.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Garmin currently has an average rating of “Moderate Buy” and a consensus target price of $313.71.

Key Stories Impacting Garmin

Here are the key news stories impacting Garmin this week:

• Positive Sentiment: Arete Research initiated coverage with a Buy rating and a $335 price target, implying roughly 20% upside from the referenced share price. This adds a new bullish Wall Street view ahead of Garmin’s third-quarter earnings report.
• Positive Sentiment: Garmin said more than 2,500 aircraft are now equipped with its Autoland emergency landing system. The milestone supports the growth and adoption of Garmin’s aviation technology portfolio. More than 2,500 aircraft are now equipped with Garmin’s revolutionary Autoland system
• Positive Sentiment: The company announced Ventura, California, as the fourth location for its Garmin Marathon Series, extending the brand’s consumer engagement and fitness ecosystem into 2027. Garmin selects Ventura, California as newest Garmin Marathon Series location
• Positive Sentiment: Recent launches of the premium third-generation MARQ smartwatch collection and the 1,000th King Air G1000 retrofit reinforce momentum across Garmin’s luxury wearables and aviation segments. Third-generation MARQ collection
• Neutral Sentiment: Garmin’s latest quarterly results exceeded earnings and revenue expectations, with revenue up 11.4% year over year, while investors await the scheduled October 28 third-quarter report.
• Negative Sentiment: Zacks Research downgraded Garmin from “Strong Buy” to “Hold,” potentially tempering enthusiasm around the stock’s valuation.
• Negative Sentiment: Reported insider activity shows executives have made multiple sales and no open-market purchases over the past six months. While such transactions may be routine, the pattern could weigh on sentiment.

About Garmin

Garmin Ltd. is a technology company that develops products using global positioning system (GPS), satellite communications and other location-based technologies. The company serves consumers, businesses and professional users through product lines focused on fitness, outdoor recreation, aviation, marine and automotive applications.

Its offerings include smartwatches and fitness trackers, cycling computers, navigation devices, satellite communicators, outdoor handhelds, marine chartplotters and sonar systems, and aviation navigation and communication equipment.