Fullerton Fund Management Co Ltd. Buys New Stake in Garmin Ltd. $GRMN

Fullerton Fund Management Co Ltd. bought a new stake in shares of Garmin Ltd. (NYSE:GRMN) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 3,375 shares of the scientific and technical instruments company’s stock, valued at approximately $685,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Atlas Capital Advisors Inc. acquired a new position in Garmin during the fourth quarter valued at $34,000. Torren Management LLC acquired a new position in Garmin during the fourth quarter valued at $41,000. GraniteShares Advisors LLC acquired a new position in Garmin during the fourth quarter valued at $41,000. Itau Unibanco Holding S.A. lifted its position in Garmin by 23.0% during the fourth 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 during the period. Finally, Elyxium Wealth LLC acquired a new position in shares of Garmin in the fourth quarter worth about $60,000. 81.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Joseph J. Hartnett sold 643 shares of the company’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $263.57, for a total transaction of $169,475.51. Following the completion of the transaction, the director owned 21,277 shares in the company, valued at $5,607,978.89. This represents a 2.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Douglas G. Boessen sold 2,000 shares of the company’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $237.91, for a total transaction of $475,820.00. Following the transaction, the chief financial officer owned 26,049 shares of the company’s stock, valued at approximately $6,197,317.59. This trade represents a 7.13% decrease in their position. The disclosure for this sale is available in the SEC filing. 19.54% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

GRMN has been the subject of a number of analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Garmin in a research report on Monday, June 8th. Morgan Stanley set a $249.00 price objective on shares of Garmin in a research report on Thursday, April 30th. Wall Street Zen upgraded shares of Garmin from a “hold” rating to a “buy” rating in a research report on Saturday, June 6th. Zacks Research downgraded shares of Garmin from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 1st. Finally, Tigress Financial upped their price objective on shares of Garmin from $320.00 to $325.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, May 20th. One 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 stock. Based on data from MarketBeat, Garmin has an average rating of “Moderate Buy” and an average target price of $269.40.

Garmin Stock Down 1.1%

GRMN opened at $235.45 on Wednesday. Garmin Ltd. has a twelve month low of $186.67 and a twelve month high of $273.32. The company has a 50-day moving average price of $245.00 and a 200 day moving average price of $227.66. The company has a market cap of $45.41 billion, a PE ratio of 26.25, a price-to-earnings-growth ratio of 2.81 and a beta of 0.91.

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. Garmin had a net margin of 23.26% and a return on equity of 20.07%. The firm had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter in the prior year, the firm earned $1.61 EPS. The company’s revenue for the quarter 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, sell-side analysts expect that Garmin Ltd. will post 9.53 earnings per share 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.