Garmin Ltd. $GRMN Shares Purchased by Waterfront Wealth Inc.

Waterfront Wealth Inc. grew its position in shares of Garmin Ltd. (NYSE:GRMN) by 43.9% during the first quarter, HoldingsChannel reports. The institutional investor owned 8,292 shares of the scientific and technical instruments company’s stock after buying an additional 2,528 shares during the quarter. Waterfront Wealth Inc.’s holdings in Garmin were worth $1,924,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in GRMN. Reflection Asset Management bought a new position in Garmin during the fourth quarter worth $32,000. Atlas Capital Advisors Inc. bought a new stake in Garmin during the fourth quarter valued at $34,000. GraniteShares Advisors LLC bought a new stake in Garmin during the fourth quarter valued at $41,000. Torren Management LLC acquired a new stake in shares of Garmin during the fourth quarter worth $41,000. Finally, SHP Wealth Management acquired a new stake in shares of Garmin during the fourth quarter worth $44,000. Institutional investors and hedge funds own 81.60% of the company’s stock.

Insider Transactions at Garmin

In other Garmin news, Director Joseph J. Hartnett sold 643 shares of the business’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 directly owned 21,277 shares of the company’s stock, valued at $5,607,978.89. The trade was a 2.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 completion of 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 SEC filing for this sale provides additional information. Insiders own 15.38% of the company’s stock.

Garmin Stock Performance

GRMN stock opened at $244.25 on Friday. The stock has a market capitalization of $47.11 billion, a price-to-earnings ratio of 27.23, a PEG ratio of 2.88 and a beta of 0.90. Garmin Ltd. has a 1 year low of $186.67 and a 1 year high of $273.32. The stock’s fifty day moving average is $238.07 and its two-hundred day moving average is $231.97.

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

Analysts Set New Price Targets

GRMN has been the topic of a number of recent research reports. Zacks Research downgraded shares of Garmin from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 1st. Morgan Stanley set a $249.00 price objective on shares of Garmin in a research note on Thursday, April 30th. Tigress Financial raised their target price on shares of Garmin from $320.00 to $325.00 and gave the stock a “strong-buy” rating in a report on Wednesday, May 20th. JPMorgan Chase & Co. lifted their target price on Garmin from $265.00 to $285.00 and gave the company a “neutral” rating in a research note on Thursday, April 16th. Finally, Barclays lowered their target price on Garmin from $240.00 to $238.00 and set an “equal weight” rating for the company in a report 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 issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $269.40.

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.