Plato Investment Management Ltd Invests $1.45 Million in Garmin Ltd. $GRMN

Plato Investment Management Ltd bought a new stake in shares of Garmin Ltd. (NYSE:GRMN) during the second quarter, Holdings Channel.com reports. The fund bought 6,126 shares of the scientific and technical instruments company’s stock, valued at approximately $1,447,000.

Several other institutional investors and hedge funds have also recently modified their holdings of GRMN. Norges Bank purchased a new position in Garmin during the fourth quarter worth approximately $395,234,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of Garmin in the fourth quarter valued at approximately $214,382,000. Man Group plc increased 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 valued at $164,793,000 after buying an additional 567,711 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Garmin by 73.8% during the 1st quarter. Bank of America Corp DE now owns 1,295,199 shares of the scientific and technical instruments company’s stock worth $300,499,000 after buying an additional 549,954 shares during the period. Finally, Amundi raised its stake in shares of Garmin by 82.5% during the 1st quarter. Amundi now owns 1,017,314 shares of the scientific and technical instruments company’s stock worth $236,027,000 after buying an additional 459,980 shares during the period. Hedge funds and other institutional investors own 81.60% of the company’s stock.

Garmin Price Performance

Shares of NYSE:GRMN opened at $307.70 on Tuesday. The business’s 50 day moving average price is $258.50 and its 200-day moving average price is $245.03. The firm has a market capitalization of $59.34 billion, a PE ratio of 31.72, a P/E/G ratio of 3.47 and a beta of 0.87. Garmin Ltd. has a 1 year low of $186.67 and a 1 year high of $314.28.

Garmin (NYSE:GRMN) last posted its quarterly earnings data on Wednesday, July 29th. The scientific and technical instruments company reported $2.81 EPS for the quarter, beating the consensus estimate of $2.30 by $0.51. The firm had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $1.93 billion. Garmin had a return on equity of 20.95% and a net margin of 24.47%.The firm’s revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the company earned $2.17 EPS. Garmin has set its FY 2026 guidance at 10.000-10.000 EPS. As a group, analysts expect that Garmin Ltd. will post 10.08 earnings per share for the current year.

Insider Buying and Selling at Garmin

In other news, VP Joshua H. Maxfield sold 1,152 shares of the firm’s stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $291.13, for a total value of $335,381.76. Following the transaction, the vice president directly owned 15,042 shares of the company’s stock, valued at approximately $4,379,177.46. This trade represents a 7.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Joseph J. Hartnett sold 643 shares of the business’s stock in a transaction dated Tuesday, June 9th. The stock was 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. The trade was a 2.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 8,810 shares of company stock valued at $2,478,157. 14.80% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on GRMN shares. UBS Group set a $370.00 price target on shares of Garmin in a research note on Thursday, August 6th. Wall Street Zen cut shares of Garmin from a “buy” rating to a “hold” rating in a research report on Saturday, June 20th. Zacks Research raised shares of Garmin from a “hold” rating to a “strong-buy” rating in a report on Friday, July 31st. Tigress Financial reiterated a “strong-buy” rating on shares of Garmin in a research report on Thursday, August 6th. Finally, Barclays boosted their target price on shares of Garmin from $238.00 to $297.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Garmin presently has a consensus rating of “Moderate Buy” and a consensus price target of $310.17.

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.