MUFG Securities EMEA plc Boosts Stake in Garmin Ltd. $GRMN

MUFG Securities EMEA plc increased its position in shares of Garmin Ltd. (NYSE:GRMN) by 6,790.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 215,815 shares of the scientific and technical instruments company’s stock after purchasing an additional 212,683 shares during the quarter. MUFG Securities EMEA plc’s holdings in Garmin were worth $43,778,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cornerstone Planning Group LLC raised its holdings in Garmin by 788.9% during the third quarter. Cornerstone Planning Group LLC now owns 160 shares of the scientific and technical instruments company’s stock worth $39,000 after purchasing an additional 142 shares during the last quarter. Torren Management LLC acquired a new position in Garmin during the fourth quarter worth $41,000. GraniteShares Advisors LLC acquired a new position in Garmin during the fourth quarter worth $41,000. Elyxium Wealth LLC acquired a new position in Garmin during the fourth quarter worth $60,000. Finally, Hazlett Burt & Watson Inc. acquired a new position in Garmin during the third quarter worth $97,000. 81.60% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Barclays reduced their price objective on Garmin from $240.00 to $238.00 and set an “equal weight” rating for the company in a report on Thursday, April 30th. Morgan Stanley set a $249.00 price objective on Garmin in a report on Thursday, April 30th. JPMorgan Chase & Co. lifted their price objective on Garmin from $265.00 to $285.00 and gave the stock a “neutral” rating in a report on Thursday, April 16th. Zacks Research cut Garmin from a “strong-buy” rating to a “hold” rating in a report on Friday, May 1st. Finally, Tigress Financial boosted their price target on Garmin from $320.00 to $325.00 and gave the stock a “strong-buy” rating in a report on Wednesday, May 20th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Garmin currently has a consensus rating of “Moderate Buy” and a consensus target price of $269.40.

Garmin Stock Down 1.0%

NYSE GRMN opened at $234.00 on Friday. Garmin Ltd. has a fifty-two week low of $186.67 and a fifty-two week high of $273.32. The stock has a market cap of $45.13 billion, a price-to-earnings ratio of 26.09, a price-to-earnings-growth ratio of 2.76 and a beta of 0.94. The business has a fifty day moving average of $244.55 and a 200-day moving average of $223.74.

Garmin (NYSE:GRMN) last released its quarterly earnings results 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 return on equity of 20.07% and a net margin of 23.26%.The company had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same period in the previous year, the firm posted $1.61 earnings per share. The business’s revenue for the quarter was up 14.0% compared to the same quarter last year. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. As a group, analysts anticipate that Garmin Ltd. will post 9.53 EPS for the current year.

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.