ING Groep NV Acquires 8,876 Shares of Garmin Ltd. $GRMN

ING Groep NV lifted its holdings in shares of Garmin Ltd. (NYSE:GRMN) by 42.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 30,028 shares of the scientific and technical instruments company’s stock after purchasing an additional 8,876 shares during the period. ING Groep NV’s holdings in Garmin were worth $6,091,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in GRMN. Brighton Jones LLC grew its holdings in shares of Garmin by 31.3% during the 4th quarter. Brighton Jones LLC now owns 1,943 shares of the scientific and technical instruments company’s stock valued at $401,000 after purchasing an additional 463 shares during the last quarter. NewEdge Advisors LLC grew its holdings in shares of Garmin by 6.2% during the 1st quarter. NewEdge Advisors LLC now owns 5,885 shares of the scientific and technical instruments company’s stock valued at $1,278,000 after purchasing an additional 345 shares during the last quarter. Woodline Partners LP grew its holdings in shares of Garmin by 40.6% during the 1st quarter. Woodline Partners LP now owns 13,017 shares of the scientific and technical instruments company’s stock valued at $2,826,000 after purchasing an additional 3,757 shares during the last quarter. Focus Partners Wealth grew its holdings in shares of Garmin by 51.1% during the 1st quarter. Focus Partners Wealth now owns 6,811 shares of the scientific and technical instruments company’s stock valued at $1,479,000 after purchasing an additional 2,304 shares during the last quarter. Finally, Sivia Capital Partners LLC grew its holdings in shares of Garmin by 17.0% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,662 shares of the scientific and technical instruments company’s stock valued at $347,000 after purchasing an additional 242 shares during the last quarter. Institutional investors own 81.60% of the company’s stock.

Garmin Stock Down 0.5%

Shares of Garmin stock opened at $235.36 on Tuesday. The firm has a market cap of $45.39 billion, a PE ratio of 26.24, a price-to-earnings-growth ratio of 2.79 and a beta of 0.91. Garmin Ltd. has a 12-month low of $186.67 and a 12-month high of $273.32. The company’s fifty day simple moving average is $244.61 and its two-hundred day simple moving average is $225.75.

Garmin (NYSE:GRMN) last announced its quarterly earnings results on Wednesday, April 29th. The scientific and technical instruments company reported $2.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.84 by $0.24. The business 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 company’s revenue was up 14.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.61 EPS. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. As a group, sell-side analysts expect that Garmin Ltd. will post 9.53 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on GRMN shares. Zacks Research lowered shares of Garmin from a “strong-buy” rating to a “hold” rating in a report on Friday, May 1st. JPMorgan Chase & Co. increased 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. Morgan Stanley set a $249.00 price target on shares of Garmin in a report on Thursday, April 30th. Barclays cut their price target on shares of Garmin from $240.00 to $238.00 and set an “equal weight” rating on the stock in a report on Thursday, April 30th. Finally, Wall Street Zen raised shares of Garmin from a “hold” rating to a “buy” rating in a report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average 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.