Goldman Sachs Group Inc. Buys 315,163 Shares of Garmin Ltd. $GRMN

Goldman Sachs Group Inc. grew its position in Garmin Ltd. (NYSE:GRMN) by 32.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,289,156 shares of the scientific and technical instruments company’s stock after buying an additional 315,163 shares during the period. Goldman Sachs Group Inc.’s holdings in Garmin were worth $261,505,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in GRMN. Brighton Jones LLC increased its stake in shares of Garmin by 31.3% in 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 buying an additional 463 shares during the period. NewEdge Advisors LLC increased its stake in shares of Garmin by 6.2% in 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 buying an additional 345 shares during the period. Woodline Partners LP increased its stake in shares of Garmin by 40.6% in 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 buying an additional 3,757 shares during the period. Focus Partners Wealth increased its stake in shares of Garmin by 51.1% in 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 buying an additional 2,304 shares during the period. Finally, Sivia Capital Partners LLC increased its stake in shares of Garmin by 17.0% in 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 buying an additional 242 shares during the period. 81.60% of the stock is owned by institutional investors and hedge funds.

Garmin Stock Down 2.2%

Shares of Garmin stock opened at $236.62 on Friday. Garmin Ltd. has a 12 month low of $186.67 and a 12 month high of $273.32. The business has a fifty day simple moving average of $244.62 and a 200 day simple moving average of $225.18. The stock has a market cap of $45.63 billion, a PE ratio of 26.38, a price-to-earnings-growth ratio of 2.79 and a beta of 0.91.

Garmin (NYSE:GRMN) last announced 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. Garmin had a return on equity of 20.07% and a net margin of 23.26%.The business 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 earned $1.61 earnings per share. The firm’s quarterly revenue was up 14.0% compared to the same quarter last year. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. Analysts expect that Garmin Ltd. will post 9.53 EPS for the current fiscal year.

Analyst Ratings Changes

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

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.