Fjarde AP Fonden Fourth Swedish National Pension Fund Has $15.10 Million Stake in Garmin Ltd. $GRMN

Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in Garmin Ltd. (NYSE:GRMN) by 39.7% during the first quarter, HoldingsChannel.com reports. The fund owned 65,101 shares of the scientific and technical instruments company’s stock after acquiring an additional 18,500 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Garmin were worth $15,104,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. GSA Capital Partners LLP acquired a new stake in shares of Garmin during the 4th quarter worth about $979,000. Diversified Trust Co. boosted its position in Garmin by 123.1% in the fourth quarter. Diversified Trust Co. now owns 8,248 shares of the scientific and technical instruments company’s stock valued at $1,673,000 after buying an additional 4,551 shares in the last quarter. DB Fitzpatrick & Co Inc bought a new stake in Garmin during the fourth quarter worth about $1,439,000. Nordea Investment Management AB grew its stake in Garmin by 12.0% during the fourth quarter. Nordea Investment Management AB now owns 93,493 shares of the scientific and technical instruments company’s stock worth $19,011,000 after buying an additional 10,020 shares during the last quarter. Finally, Barclays PLC increased its holdings in shares of Garmin by 5.0% during the third quarter. Barclays PLC now owns 385,885 shares of the scientific and technical instruments company’s stock worth $95,013,000 after buying an additional 18,378 shares in the last quarter. 81.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently issued reports on GRMN. Weiss Ratings reiterated a “buy (b)” rating on shares of Garmin in a research note on Monday, June 8th. Morgan Stanley set a $249.00 price target on Garmin in a research report on Thursday, April 30th. Wall Street Zen cut Garmin from a “buy” rating to a “hold” rating in a report on Saturday, June 20th. JPMorgan Chase & Co. lifted their price objective on Garmin from $265.00 to $285.00 and gave the company a “neutral” rating in a research report on Thursday, April 16th. Finally, Barclays reduced their price objective on Garmin from $240.00 to $238.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $269.40.

Insider Buying and Selling

In other Garmin news, 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 value of $169,475.51. Following the transaction, the director directly owned 21,277 shares in the company, valued at approximately $5,607,978.89. This trade represents a 2.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Douglas G. Boessen sold 2,000 shares of the 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 completion of the transaction, the chief financial officer owned 26,049 shares in the company, valued at $6,197,317.59. The trade was a 7.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 15.38% of the company’s stock.

Garmin Trading Up 0.0%

GRMN opened at $240.03 on Friday. The stock has a market capitalization of $46.29 billion, a PE ratio of 26.76, a PEG ratio of 2.84 and a beta of 0.90. Garmin Ltd. has a 1-year low of $186.67 and a 1-year high of $273.32. The firm has a 50-day moving average price of $238.95 and a two-hundred day moving average price of $230.61.

Garmin (NYSE:GRMN) last announced its 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. Garmin had a net margin of 23.26% and a return on equity of 20.07%. The company had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.72 billion. During the same period in the previous year, the firm posted $1.61 earnings per share. The company’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 predict that Garmin Ltd. will post 9.53 EPS 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.