Czech National Bank Grows Position in Garmin Ltd. $GRMN

Czech National Bank boosted its position in shares of Garmin Ltd. (NYSE:GRMN) by 4.8% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 46,660 shares of the scientific and technical instruments company’s stock after acquiring an additional 2,136 shares during the quarter. Czech National Bank’s holdings in Garmin were worth $11,084,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GRMN. Groupe la Francaise boosted its position in shares of Garmin by 346.4% during the first quarter. Groupe la Francaise now owns 125 shares of the scientific and technical instruments company’s stock valued at $29,000 after buying an additional 97 shares during the period. Reflection Asset Management bought a new position in shares of Garmin during the fourth quarter valued at approximately $32,000. Archer Investment Corp bought a new position in shares of Garmin during the first quarter valued at approximately $37,000. Atlas Capital Advisors Inc. purchased a new stake in shares of Garmin in the fourth quarter worth approximately $34,000. Finally, Cassaday & Co Wealth Management LLC purchased a new stake in shares of Garmin in the first quarter worth approximately $44,000. 81.60% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Joseph J. Hartnett sold 643 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $263.57, for a total value of $169,475.51. Following the completion of the transaction, the director owned 21,277 shares of the company’s stock, valued at $5,607,978.89. The trade was a 2.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Clifton A. Pemble sold 4,029 shares of the company’s stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $300.00, for a total value of $1,208,700.00. Following the sale, the chief executive officer owned 120,127 shares of the company’s stock, valued at approximately $36,038,100. This represents a 3.25% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 8,810 shares of company stock valued at $2,478,157 over the last ninety days. Company insiders own 14.80% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Weiss Ratings restated a “buy (b)” rating on shares of Garmin in a report on Monday, June 8th. JPMorgan Chase & Co. increased their target price on Garmin from $265.00 to $285.00 and gave the stock a “neutral” rating in a research note on Thursday, April 16th. Tigress Financial reissued a “strong-buy” rating on shares of Garmin in a research note on Thursday. UBS Group set a $370.00 price target on shares of Garmin in a report on Thursday. Finally, Zacks Research raised shares of Garmin from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 31st. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Garmin presently has a consensus rating of “Moderate Buy” and an average target price of $310.17.

Garmin Stock Performance

NYSE GRMN opened at $311.33 on Friday. The company has a market capitalization of $60.04 billion, a price-to-earnings ratio of 32.10, a price-to-earnings-growth ratio of 3.47 and a beta of 0.87. The company’s 50-day simple moving average is $249.83 and its two-hundred day simple moving average is $240.36. Garmin Ltd. has a one year low of $186.67 and a one year high of $312.70.

Garmin (NYSE:GRMN) last posted its quarterly earnings results on Wednesday, July 29th. The scientific and technical instruments company reported $2.81 EPS for the quarter, beating the consensus estimate of $2.30 by $0.51. Garmin had a net margin of 24.47% and a return on equity of 20.95%. The business had revenue of $2.02 billion during the quarter, compared to analyst estimates of $1.93 billion. During the same quarter in the previous year, the business posted $2.17 EPS. The company’s quarterly revenue was up 11.4% compared to the same quarter last year. Garmin has set its FY 2026 guidance at 10.000-10.000 EPS. Equities analysts expect that Garmin Ltd. will post 10.1 earnings per share for the current fiscal year.

Garmin 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.