ProShare Advisors LLC Grows Position in Garmin Ltd. $GRMN

ProShare Advisors LLC lifted its holdings in shares of Garmin Ltd. (NYSE:GRMN) by 8.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,950 shares of the scientific and technical instruments company’s stock after buying an additional 2,368 shares during the period. ProShare Advisors LLC’s holdings in Garmin were worth $6,075,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. boosted its position 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 valued at $4,973,044,000 after buying an additional 499,235 shares during the last quarter. State Street Corp boosted its position in shares of Garmin by 1.8% during the third quarter. State Street Corp now owns 7,250,844 shares of the scientific and technical instruments company’s stock valued at $1,785,304,000 after buying an additional 126,677 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Garmin by 1.1% in the third quarter. Dimensional Fund Advisors LP now owns 1,494,519 shares of the scientific and technical instruments company’s stock worth $367,964,000 after purchasing an additional 16,622 shares during the last quarter. Disciplined Growth Investors Inc. MN boosted its position in Garmin by 0.4% in the second quarter. Disciplined Growth Investors Inc. MN now owns 1,419,365 shares of the scientific and technical instruments company’s stock worth $296,250,000 after purchasing an additional 5,213 shares during the last quarter. Finally, AQR Capital Management LLC boosted its position in Garmin by 15.7% in the third quarter. AQR Capital Management LLC now owns 1,348,955 shares of the scientific and technical instruments company’s stock worth $330,373,000 after purchasing an additional 182,548 shares during the last quarter. 81.60% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Douglas G. Boessen sold 3,487 shares of Garmin stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $251.66, for a total transaction of $877,538.42. Following the transaction, the chief financial officer directly owned 28,049 shares of the company’s stock, valued at $7,058,811.34. The trade was a 11.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Clifton A. Pemble sold 19,914 shares of Garmin stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $251.58, for a total value of $5,009,964.12. Following the transaction, the chief executive officer directly owned 124,075 shares in the company, valued at approximately $31,214,788.50. The trade was a 13.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 39,175 shares of company stock worth $9,852,187. 15.38% of the stock is currently owned by corporate insiders.

Garmin Stock Performance

Shares of NYSE:GRMN opened at $240.83 on Friday. Garmin Ltd. has a 52-week low of $186.67 and a 52-week high of $273.32. The stock has a market capitalization of $46.45 billion, a price-to-earnings ratio of 26.85, a PEG ratio of 2.82 and a beta of 0.94. The stock’s 50-day simple moving average is $244.20 and its two-hundred day simple moving average is $222.61.

Garmin (NYSE:GRMN) last posted its quarterly earnings data on Wednesday, April 29th. The scientific and technical instruments company reported $2.08 earnings per share for the quarter, beating 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 firm had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.72 billion. During the same period in the previous year, the firm earned $1.61 EPS. The business’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. As a group, equities analysts forecast that Garmin Ltd. will post 9.57 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. JPMorgan Chase & Co. raised their target price on Garmin from $265.00 to $285.00 and gave the stock a “neutral” rating in a research report on Thursday, April 16th. Tigress Financial raised their target price on Garmin from $320.00 to $325.00 and gave the stock a “strong-buy” rating in a research report on Wednesday. Barclays dropped their target price on Garmin from $240.00 to $238.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 30th. Zacks Research cut Garmin from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 1st. Finally, Morgan Stanley set a $249.00 target price on Garmin in a research report on Thursday, April 30th. One equities research 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $269.40.

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.