Garmin Ltd. $GRMN Stake Raised by Corient Private Wealth LLC

Corient Private Wealth LLC boosted its holdings in shares of Garmin Ltd. (NYSE:GRMN) by 38.8% in the fourth quarter, HoldingsChannel reports. The fund owned 28,430 shares of the scientific and technical instruments company’s stock after buying an additional 7,952 shares during the quarter. Corient Private Wealth LLC’s holdings in Garmin were worth $5,768,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Reflection Asset Management purchased a new stake in shares of Garmin in the fourth quarter worth approximately $32,000. Atlas Capital Advisors Inc. purchased a new position in Garmin during the fourth quarter valued at approximately $34,000. GraniteShares Advisors LLC purchased a new position in Garmin during the fourth quarter valued at approximately $41,000. Torren Management LLC acquired a new position in Garmin in the 4th quarter valued at approximately $41,000. Finally, SHP Wealth Management acquired a new position in Garmin in the 4th quarter valued at approximately $44,000. Hedge funds and other institutional investors own 81.60% of the company’s stock.

Wall Street Analysts Forecast Growth

GRMN has been the subject of a number of research reports. Wall Street Zen lowered shares of Garmin from a “buy” rating to a “hold” rating in a research note on Saturday, June 20th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Garmin in a research note on Monday, June 8th. Tigress Financial increased their price objective on Garmin from $320.00 to $325.00 and gave the stock a “strong-buy” rating in a report on Wednesday, May 20th. Morgan Stanley set a $249.00 target price on Garmin in a research note on Thursday, April 30th. Finally, Zacks Research lowered Garmin from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $269.40.

Garmin Price Performance

NYSE GRMN opened at $235.32 on Friday. Garmin Ltd. has a fifty-two week low of $186.67 and a fifty-two week high of $273.32. The stock’s 50-day moving average is $242.45 and its two-hundred day moving average is $229.49. The firm has a market cap of $45.38 billion, a P/E ratio of 26.23, a price-to-earnings-growth ratio of 2.84 and a beta of 0.91.

Garmin (NYSE:GRMN) last announced its quarterly earnings results on Wednesday, April 29th. The scientific and technical instruments company reported $2.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.84 by $0.24. The company had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.72 billion. Garmin had a return on equity of 20.07% and a net margin of 23.26%.The business’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.61 earnings per share. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. On average, equities analysts expect that Garmin Ltd. will post 9.53 EPS for the current year.

Insider Activity at Garmin

In other Garmin news, CFO Douglas G. Boessen sold 2,000 shares of the stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $237.91, for a total transaction of $475,820.00. Following the transaction, the chief financial officer owned 26,049 shares in the company, valued at $6,197,317.59. This trade represents a 7.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Joseph J. Hartnett sold 643 shares of Garmin stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $263.57, for a total transaction of $169,475.51. Following the completion of the transaction, the director directly owned 21,277 shares in the company, valued at approximately $5,607,978.89. This represents a 2.93% decrease in their position. The disclosure for this sale is available in the SEC filing. 15.38% of the stock is currently owned by insiders.

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.