Faithward Advisors LLC Cuts Holdings in Garmin Ltd. $GRMN

Faithward Advisors LLC trimmed its holdings in shares of Garmin Ltd. (NYSE:GRMN) by 86.9% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 3,404 shares of the scientific and technical instruments company’s stock after selling 22,668 shares during the period. Faithward Advisors LLC’s holdings in Garmin were worth $690,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Atlas Capital Advisors Inc. purchased a new position in shares of Garmin during the 4th quarter worth approximately $34,000. GraniteShares Advisors LLC purchased a new position in Garmin in the 4th quarter valued at approximately $41,000. Torren Management LLC purchased a new position in Garmin in the 4th quarter valued at approximately $41,000. Itau Unibanco Holding S.A. increased its stake in Garmin by 23.0% in the 4th quarter. Itau Unibanco Holding S.A. now owns 283 shares of the scientific and technical instruments company’s stock valued at $57,000 after purchasing an additional 53 shares in the last quarter. Finally, Elyxium Wealth LLC purchased a new position in Garmin in the 4th quarter valued at approximately $60,000. 81.60% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Garmin

In other news, CFO Douglas G. Boessen sold 2,000 shares of the firm’s stock in a transaction 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 sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Joseph J. Hartnett sold 643 shares of the firm’s 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 sale, the director owned 21,277 shares in the company, valued at $5,607,978.89. This trade represents a 2.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 19.54% of the stock is owned by company insiders.

Garmin Stock Performance

Garmin stock opened at $235.45 on Wednesday. The stock has a fifty day moving average of $245.00 and a two-hundred day moving average of $227.66. The company has a market capitalization of $45.41 billion, a price-to-earnings ratio of 26.25, a PEG ratio of 2.81 and a beta of 0.91. Garmin Ltd. has a fifty-two week low of $186.67 and a fifty-two week high of $273.32.

Garmin (NYSE:GRMN) last released its quarterly earnings results on Wednesday, April 29th. The scientific and technical instruments company reported $2.08 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 20.07% and a net margin of 23.26%.Garmin’s revenue was up 14.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.61 earnings per share. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. On average, analysts forecast that Garmin Ltd. will post 9.53 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently weighed in on GRMN. Wall Street Zen raised Garmin from a “hold” rating to a “buy” rating in a research note on Saturday, June 6th. Barclays dropped their price objective on Garmin from $240.00 to $238.00 and set an “equal weight” rating for the company in a research note on Thursday, April 30th. Zacks Research downgraded Garmin from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. Tigress Financial raised their price objective on Garmin from $320.00 to $325.00 and gave the company a “strong-buy” rating in a research note on Wednesday, May 20th. Finally, Morgan Stanley set a $249.00 price objective on Garmin in a research note on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently 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.