OMERS ADMINISTRATION Corp Has $4.46 Million Stock Position in Garmin Ltd. $GRMN

OMERS ADMINISTRATION Corp grew its position in Garmin Ltd. (NYSE:GRMN) by 19.0% in the first quarter, Holdings Channel.com reports. The fund owned 19,205 shares of the scientific and technical instruments company’s stock after buying an additional 3,072 shares during the period. OMERS ADMINISTRATION Corp’s holdings in Garmin were worth $4,456,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Reflection Asset Management bought a new stake in shares of Garmin during the fourth quarter valued at approximately $32,000. Archer Investment Corp bought a new position in Garmin in the first quarter worth $37,000. Atlas Capital Advisors Inc. bought a new position in Garmin in the fourth quarter worth $34,000. Cassaday & Co Wealth Management LLC acquired a new stake in Garmin during the first quarter worth $44,000. Finally, Avalon Trust Co acquired a new stake in Garmin during the first quarter worth $47,000. Institutional investors and hedge funds own 81.60% of the company’s stock.

Garmin Price Performance

GRMN stock opened at $242.39 on Tuesday. The business has a fifty day moving average price of $239.13 and a 200 day moving average price of $235.21. 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 capitalization of $46.75 billion, a price-to-earnings ratio of 27.02, a P/E/G ratio of 2.87 and a beta of 0.90.

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

Analyst Ratings Changes

A number of equities analysts have recently issued reports on GRMN shares. Weiss Ratings restated a “buy (b)” rating on shares of Garmin in a research note on Monday, June 8th. Zacks Research lowered shares of Garmin from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 1st. Morgan Stanley set a $249.00 target price on shares of Garmin in a research note on Thursday, April 30th. Barclays dropped their price target on shares of Garmin from $240.00 to $238.00 and set an “equal weight” rating for the company in a research report on Thursday, April 30th. Finally, Tigress Financial increased 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. One 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’s stock. According to MarketBeat, Garmin currently has a consensus rating of “Moderate Buy” and an average price target of $269.40.

Insider Activity

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

Garmin Company 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.