Natixis Advisors LLC Cuts Stock Holdings in Garmin Ltd. $GRMN

Natixis Advisors LLC trimmed its position in shares of Garmin Ltd. (NYSE:GRMN) by 9.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 51,311 shares of the scientific and technical instruments company’s stock after selling 5,344 shares during the quarter. Natixis Advisors LLC’s holdings in Garmin were worth $10,408,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Beto Financial Group LLC purchased a new position in Garmin during the 4th quarter worth $296,000. AXQ Capital LP purchased a new position in Garmin during the 4th quarter worth $960,000. Crestmont Private Wealth LLC boosted its holdings in Garmin by 11.6% during the 4th quarter. Crestmont Private Wealth LLC now owns 1,215 shares of the scientific and technical instruments company’s stock worth $246,000 after acquiring an additional 126 shares during the last quarter. New Mexico Educational Retirement Board boosted its holdings in Garmin by 7.2% during the 4th quarter. New Mexico Educational Retirement Board now owns 7,450 shares of the scientific and technical instruments company’s stock worth $1,511,000 after acquiring an additional 500 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. boosted its holdings in Garmin by 4.2% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 56,102 shares of the scientific and technical instruments company’s stock worth $11,380,000 after acquiring an additional 2,261 shares during the last quarter. 81.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GRMN has been the topic of a number of research analyst reports. JPMorgan Chase & Co. boosted their price target on shares of Garmin from $265.00 to $285.00 and gave the stock a “neutral” rating in a report on Thursday, April 16th. Wall Street Zen raised shares of Garmin from a “hold” rating to a “buy” rating in a report on Saturday. Barclays cut their price target on shares of Garmin from $240.00 to $238.00 and set an “equal weight” rating on the stock in a report on Thursday, April 30th. Zacks Research downgraded shares of 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 shares of Garmin from $320.00 to $325.00 and gave the stock a “strong-buy” rating in a report on Wednesday, May 20th. One investment 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’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $269.40.

Garmin Stock Performance

Shares of NYSE:GRMN opened at $236.62 on Friday. The company’s 50-day moving average is $244.62 and its 200 day moving average is $225.18. The company has a market capitalization of $45.63 billion, a P/E ratio of 26.38, a price-to-earnings-growth ratio of 2.79 and a beta of 0.91. Garmin Ltd. has a fifty-two week low of $186.67 and a fifty-two week high of $273.32.

Garmin (NYSE:GRMN) last released its quarterly earnings data on Wednesday, April 29th. The scientific and technical instruments company reported $2.08 EPS for the quarter, beating the consensus estimate of $1.84 by $0.24. The business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.72 billion. Garmin had a net margin of 23.26% and a return on equity of 20.07%. The company’s revenue was up 14.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.61 earnings per share. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. As a group, research analysts predict that Garmin Ltd. will post 9.53 earnings per share 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.