Entropy Technologies LP Makes New Investment in Garmin Ltd. $GRMN

Entropy Technologies LP purchased a new stake in shares of Garmin Ltd. (NYSE:GRMN) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 15,485 shares of the scientific and technical instruments company’s stock, valued at approximately $3,593,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in Garmin in the 4th quarter valued at about $395,234,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Garmin in the 4th quarter worth approximately $214,382,000. Man Group plc raised its position in shares of Garmin by 232.0% in the fourth quarter. Man Group plc now owns 812,390 shares of the scientific and technical instruments company’s stock worth $164,793,000 after buying an additional 567,711 shares in the last quarter. Westfield Capital Management Co. LP purchased a new stake in shares of Garmin in the 4th quarter valued at about $68,106,000. Finally, SG Americas Securities LLC grew its holdings in shares of Garmin by 192.8% during the first quarter. SG Americas Securities LLC now owns 506,273 shares of the scientific and technical instruments company’s stock worth $117,460,000 after purchasing an additional 333,345 shares in the last quarter. Institutional investors own 81.60% of the company’s stock.

Analyst Upgrades and Downgrades

GRMN has been the topic of a number of recent analyst reports. Barclays lowered their target price on shares of Garmin from $240.00 to $238.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 30th. JPMorgan Chase & Co. lifted their price objective on shares of Garmin from $265.00 to $285.00 and gave the stock a “neutral” rating in a report on Thursday, April 16th. Tigress Financial upped their target price on shares of Garmin from $320.00 to $325.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, May 20th. Zacks Research cut Garmin from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. Finally, Morgan Stanley set a $249.00 price target on Garmin in a research report on Thursday, April 30th. One research 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’s stock. According to data from MarketBeat.com, Garmin presently has an average rating of “Moderate Buy” and a consensus target price of $269.40.

Insiders Place Their Bets

In other Garmin news, Director Joseph J. Hartnett sold 643 shares of the company’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $263.57, for a total transaction of $169,475.51. Following the completion of the sale, the director directly 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 filing with the SEC, which is available at this hyperlink. Also, CFO Douglas G. Boessen sold 2,000 shares of the firm’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $237.91, for a total value 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 trade represents a 7.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 14.80% of the stock is owned by company insiders.

Garmin Price Performance

Shares of NYSE GRMN opened at $242.82 on Friday. Garmin Ltd. has a one year low of $186.67 and a one year high of $273.32. The firm’s 50 day simple moving average is $238.82 and its two-hundred day simple moving average is $234.76. The stock has a market capitalization of $46.83 billion, a P/E ratio of 27.07, a PEG ratio of 2.87 and a beta of 0.90.

Garmin (NYSE:GRMN) last announced its quarterly earnings data on Wednesday, April 29th. The scientific and technical instruments company reported $2.08 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $1.72 billion. During the same period in the previous year, the business posted $1.61 EPS. The business’s quarterly revenue was up 14.0% on a year-over-year basis. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. As a group, equities analysts expect that Garmin Ltd. will post 9.53 earnings per share for the current fiscal year.

Garmin 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.