North Dakota State Investment Board Makes New $1.13 Million Investment in Garmin Ltd. $GRMN

North Dakota State Investment Board purchased a new position in Garmin Ltd. (NYSE:GRMN) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 5,589 shares of the scientific and technical instruments company’s stock, valued at approximately $1,134,000.

Several other institutional investors and hedge funds have also made changes to their positions in GRMN. Alliancebernstein L.P. lifted its stake in shares of Garmin by 649.2% during the third quarter. Alliancebernstein L.P. now owns 1,256,668 shares of the scientific and technical instruments company’s stock worth $309,417,000 after buying an additional 1,088,938 shares during the period. Vanguard Group Inc. lifted its stake in shares of Garmin by 2.5% during the third quarter. Vanguard Group Inc. now owns 20,197,564 shares of the scientific and technical instruments company’s stock worth $4,973,044,000 after buying an additional 499,235 shares during the period. KBC Group NV lifted its stake in shares of Garmin by 113.6% during the fourth quarter. KBC Group NV now owns 561,291 shares of the scientific and technical instruments company’s stock worth $113,859,000 after buying an additional 298,462 shares during the period. Lazard Asset Management LLC lifted its stake in shares of Garmin by 530.5% during the third quarter. Lazard Asset Management LLC now owns 351,690 shares of the scientific and technical instruments company’s stock worth $86,593,000 after buying an additional 295,914 shares during the period. Finally, Man Group plc lifted its stake in shares of Garmin by 302.5% during the third quarter. Man Group plc now owns 244,679 shares of the scientific and technical instruments company’s stock worth $60,245,000 after buying an additional 183,889 shares during the period. 81.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Tigress Financial reiterated a “strong-buy” rating and set a $325.00 price objective on shares of Garmin in a research note on Wednesday. JPMorgan Chase & Co. lifted their price objective on shares of Garmin from $265.00 to $285.00 and gave the stock a “neutral” rating in a research note on Thursday, April 16th. Weiss Ratings reiterated a “buy (b)” rating on shares of Garmin in a research note on Thursday, January 22nd. Barclays lowered their price objective on shares of Garmin from $240.00 to $238.00 and set an “equal weight” rating for the company in a research note on Thursday, April 30th. Finally, Morgan Stanley set a $249.00 price objective on shares of Garmin in a research note on Thursday, April 30th. One investment 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 company’s stock. Based on data from MarketBeat, Garmin presently has an average rating of “Moderate Buy” and a consensus target price of $269.40.

Insider Activity at Garmin

In related news, VP Susan Lyman sold 3,805 shares of the business’s stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $251.32, for a total transaction of $956,272.60. Following the completion of the transaction, the vice president directly owned 7,471 shares in the company, valued at $1,877,611.72. The trade was a 33.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Douglas G. Boessen sold 3,487 shares of the business’s stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $251.66, for a total transaction of $877,538.42. Following the transaction, the chief financial officer owned 28,049 shares of the company’s stock, valued at $7,058,811.34. This represents a 11.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 40,246 shares of company stock valued at $10,110,041 over the last ninety days. Corporate insiders own 15.38% of the company’s stock.

Garmin Price Performance

NYSE GRMN opened at $236.95 on Thursday. The company has a market capitalization of $45.70 billion, a PE ratio of 26.42, a P/E/G ratio of 2.69 and a beta of 0.94. The company has a fifty day moving average of $244.14 and a 200 day moving average of $222.31. Garmin Ltd. has a 1 year low of $186.67 and a 1 year high of $273.32.

Garmin (NYSE:GRMN) last posted its earnings results on Wednesday, April 29th. The scientific and technical instruments company reported $2.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.84 by $0.24. The company had revenue of $1.75 billion during 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 firm’s quarterly revenue was up 14.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.61 earnings per share. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. Research analysts expect that Garmin Ltd. will post 9.57 earnings per share for the current 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.