Faithward Advisors LLC Has $1.34 Million Position in Garmin Ltd. $GRMN

Faithward Advisors LLC grew its stake in shares of Garmin Ltd. (NYSE:GRMN) by 69.2% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,760 shares of the scientific and technical instruments company’s stock after buying an additional 2,356 shares during the quarter. Faithward Advisors LLC’s holdings in Garmin were worth $1,336,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of GRMN. HHM Wealth Advisors LLC increased its holdings in Garmin by 6.9% in the 1st quarter. HHM Wealth Advisors LLC now owns 698 shares of the scientific and technical instruments company’s stock worth $162,000 after purchasing an additional 45 shares in the last quarter. Krilogy Financial LLC boosted its stake in shares of Garmin by 16.5% during the first quarter. Krilogy Financial LLC now owns 4,401 shares of the scientific and technical instruments company’s stock valued at $1,021,000 after purchasing an additional 624 shares in the last quarter. Anchyra Partners LLC grew its holdings in shares of Garmin by 3.0% during the first quarter. Anchyra Partners LLC now owns 6,421 shares of the scientific and technical instruments company’s stock worth $1,490,000 after purchasing an additional 189 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of Garmin by 192.8% during the first quarter. SG Americas Securities LLC now owns 506,273 shares of the scientific and technical instruments company’s stock worth $117,460,000 after purchasing an additional 333,345 shares during the last quarter. Finally, Evolve Private Wealth LLC increased its stake in shares of Garmin by 16.6% in the first quarter. Evolve Private Wealth LLC now owns 1,339 shares of the scientific and technical instruments company’s stock valued at $311,000 after buying an additional 191 shares during the period. 81.60% of the stock is currently owned by institutional investors and hedge funds.

Garmin Trading Up 0.1%

Shares of GRMN stock opened at $236.64 on Wednesday. Garmin Ltd. has a 1-year low of $186.67 and a 1-year high of $273.32. The stock has a market cap of $45.64 billion, a price-to-earnings ratio of 26.38, a PEG ratio of 2.79 and a beta of 0.91. The stock has a 50-day moving average of $243.46 and a 200-day moving average of $228.99.

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. Garmin had a return on equity of 20.07% and a net margin of 23.26%.The company had revenue of $1.75 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. Sell-side analysts forecast that Garmin Ltd. will post 9.53 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on GRMN. Weiss Ratings reiterated a “buy (b)” rating on shares of Garmin in a report on Monday, June 8th. Barclays reduced their target price 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. Morgan Stanley set a $249.00 price target on shares of Garmin in a research report on Thursday, April 30th. Zacks Research downgraded shares of Garmin from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. Finally, Tigress Financial lifted 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 equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $269.40.

Insider Activity at Garmin

In other news, CFO Douglas G. Boessen sold 2,000 shares of the company’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $237.91, for a total value of $475,820.00. Following the sale, the chief financial officer directly owned 26,049 shares of the company’s stock, valued at approximately $6,197,317.59. This represents a 7.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Joseph J. Hartnett sold 643 shares of the stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $263.57, for a total transaction of $169,475.51. Following the sale, the director owned 21,277 shares of the company’s stock, valued at approximately $5,607,978.89. This trade represents a 2.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 19.54% of the stock is currently owned by company 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.