Entropy Technologies LP Takes Position in Garmin Ltd. $GRMN

Entropy Technologies LP bought a new position in shares of Garmin Ltd. (NYSE:GRMN) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 15,485 shares of the scientific and technical instruments company’s stock, valued at approximately $3,593,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in GRMN. State Street Corp boosted its stake in Garmin by 1.8% during the 3rd 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 purchasing an additional 126,677 shares during the last quarter. Norges Bank bought a new stake in Garmin during the 4th quarter worth approximately $395,234,000. Northern Trust Corp raised its stake in shares of Garmin by 3.8% in the fourth quarter. Northern Trust Corp now owns 1,719,677 shares of the scientific and technical instruments company’s stock worth $348,836,000 after purchasing an additional 63,283 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Garmin by 2.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,631,843 shares of the scientific and technical instruments company’s stock valued at $378,540,000 after buying an additional 40,474 shares during the last quarter. Finally, Disciplined Growth Investors Inc. MN boosted its position in shares of Garmin by 0.4% during the second quarter. Disciplined Growth Investors Inc. MN now owns 1,419,365 shares of the scientific and technical instruments company’s stock valued at $296,250,000 after buying an additional 5,213 shares during the last quarter. Institutional investors and hedge funds own 81.60% of the company’s stock.

Insiders Place Their Bets

In other news, Director Joseph J. Hartnett sold 643 shares of Garmin stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $263.57, for a total transaction of $169,475.51. Following the sale, the director directly owned 21,277 shares in the company, 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 business’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 directly 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 SEC filing for this sale provides additional information. Insiders own 14.80% of the company’s stock.

Analysts Set New Price Targets

GRMN has been the subject of several recent research reports. Zacks Research downgraded Garmin from a “strong-buy” rating to a “hold” rating in a report on Friday, May 1st. Barclays dropped their price objective on Garmin from $240.00 to $238.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 30th. JPMorgan Chase & Co. upped their target price 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. Morgan Stanley set a $249.00 target price on shares of Garmin in a research note on Thursday, April 30th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Garmin in a report on Monday, June 8th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Garmin currently has a consensus rating of “Moderate Buy” and a consensus price target of $269.40.

Garmin Stock Up 1.1%

GRMN stock opened at $242.82 on Friday. The firm has a market cap of $46.83 billion, a PE ratio of 27.07, a P/E/G ratio of 2.87 and a beta of 0.90. The business has a 50 day moving average of $238.82 and a 200-day moving average of $234.76. Garmin Ltd. has a 12-month low of $186.67 and a 12-month high of $273.32.

Garmin (NYSE:GRMN) last issued its quarterly earnings results on Wednesday, April 29th. The scientific and technical instruments company reported $2.08 EPS for the quarter, topping 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 business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same period last year, the company posted $1.61 earnings per share. Garmin’s quarterly revenue was up 14.0% compared to the same quarter last year. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. On average, research analysts expect that Garmin Ltd. will post 9.53 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.