Fideuram Intesa Sanpaolo Private Banking S.P.A. Invests $3.89 Million in Garmin Ltd. $GRMN

Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in Garmin Ltd. (NYSE:GRMN) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 19,197 shares of the scientific and technical instruments company’s stock, valued at approximately $3,894,000.

Other institutional investors have also added to or reduced their stakes in the company. Cornerstone Planning Group LLC increased its holdings in shares of 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 valued at $39,000 after acquiring an additional 142 shares in the last quarter. GraniteShares Advisors LLC acquired a new stake in Garmin in the 4th quarter valued at $41,000. Torren Management LLC acquired a new stake in Garmin in the 4th quarter valued at $41,000. Elyxium Wealth LLC bought a new stake in Garmin during the 4th quarter valued at $60,000. Finally, Root Financial Partners LLC acquired a new position in Garmin during the third quarter worth $76,000. 81.60% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Douglas G. Boessen sold 3,487 shares of the stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $251.66, for a total transaction of $877,538.42. Following the completion of the sale, the chief financial officer directly owned 28,049 shares of the company’s stock, valued at approximately $7,058,811.34. This trade represents a 11.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Clifton A. Pemble sold 19,914 shares of Garmin stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $251.58, for a total value of $5,009,964.12. Following the sale, the chief executive officer owned 124,075 shares in the company, valued at $31,214,788.50. This trade represents a 13.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 40,246 shares of company stock worth $10,110,041. Corporate insiders own 15.38% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Garmin in a research note on Thursday, January 22nd. Zacks Research lowered shares of Garmin from a “strong-buy” rating to a “hold” rating in a report on Friday, May 1st. Tigress Financial reaffirmed a “strong-buy” rating and issued a $325.00 price target on shares of Garmin in a research report on Wednesday. Morgan Stanley set a $249.00 price target on Garmin in a research note on Thursday, April 30th. Finally, JPMorgan Chase & Co. increased their price objective on Garmin from $265.00 to $285.00 and gave the stock a “neutral” rating in a research note on Thursday, April 16th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $269.40.

Garmin Price Performance

NYSE GRMN opened at $236.95 on Thursday. The company has a fifty day moving average price of $244.14 and a 200-day moving average price of $222.31. The firm has a market cap of $45.70 billion, a price-to-earnings ratio of 26.42, a PEG ratio of 2.69 and a beta of 0.94. Garmin Ltd. has a 1 year low of $186.67 and a 1 year high of $273.32.

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, beating 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 company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same period last year, the firm earned $1.61 earnings per share. The firm’s revenue was up 14.0% on a year-over-year basis. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. On average, research analysts anticipate that Garmin Ltd. will post 9.57 EPS for the current fiscal year.

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.