OMERS ADMINISTRATION Corp Acquires 3,072 Shares of Garmin Ltd. $GRMN

OMERS ADMINISTRATION Corp lifted its position in shares of Garmin Ltd. (NYSE:GRMN) by 19.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,205 shares of the scientific and technical instruments company’s stock after acquiring an additional 3,072 shares during the quarter. OMERS ADMINISTRATION Corp’s holdings in Garmin were worth $4,456,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in GRMN. Brighton Jones LLC lifted its holdings in Garmin by 31.3% in the fourth quarter. Brighton Jones LLC now owns 1,943 shares of the scientific and technical instruments company’s stock valued at $401,000 after buying an additional 463 shares during the period. NewEdge Advisors LLC grew its position in shares of Garmin by 6.2% during the 1st quarter. NewEdge Advisors LLC now owns 5,885 shares of the scientific and technical instruments company’s stock worth $1,278,000 after buying an additional 345 shares during the period. Woodline Partners LP grew its position in shares of Garmin by 40.6% during the 1st quarter. Woodline Partners LP now owns 13,017 shares of the scientific and technical instruments company’s stock worth $2,826,000 after buying an additional 3,757 shares during the period. Focus Partners Wealth increased its stake in shares of Garmin by 51.1% in the 1st quarter. Focus Partners Wealth now owns 6,811 shares of the scientific and technical instruments company’s stock valued at $1,479,000 after acquiring an additional 2,304 shares in the last quarter. Finally, Sivia Capital Partners LLC lifted its position in shares of Garmin by 17.0% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,662 shares of the scientific and technical instruments company’s stock valued at $347,000 after acquiring an additional 242 shares during the period. Institutional investors and hedge funds own 81.60% of the company’s stock.

Insider Activity at Garmin

In related news, CFO Douglas G. Boessen sold 2,000 shares of the business’s stock in a transaction on Friday, June 5th. The shares were 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. The trade was a 7.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Joseph J. Hartnett sold 643 shares of the company’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $263.57, for a total transaction of $169,475.51. Following the transaction, the director owned 21,277 shares of the company’s stock, valued at approximately $5,607,978.89. The trade was a 2.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 14.80% of the stock is owned by corporate insiders.

Garmin Stock Performance

Shares of GRMN opened at $242.39 on Tuesday. The firm has a market cap of $46.75 billion, a P/E ratio of 27.02, a price-to-earnings-growth ratio of 2.87 and a beta of 0.90. Garmin Ltd. has a fifty-two week low of $186.67 and a fifty-two week high of $273.32. The business has a 50-day moving average of $239.13 and a 200 day moving average of $235.21.

Garmin (NYSE:GRMN) last issued its earnings results on Wednesday, April 29th. The scientific and technical instruments company reported $2.08 earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $1.72 billion. During the same quarter last year, the business earned $1.61 earnings per share. The company’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, research analysts predict that Garmin Ltd. will post 9.53 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. JPMorgan Chase & Co. raised their price target on shares of Garmin from $265.00 to $285.00 and gave the stock a “neutral” rating in a report on Thursday, April 16th. Barclays cut their price objective on shares of Garmin from $240.00 to $238.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Garmin in a research report on Monday, June 8th. Zacks Research lowered Garmin from a “strong-buy” rating to a “hold” rating in a report on Friday, May 1st. Finally, Wall Street Zen downgraded Garmin from a “buy” rating to a “hold” rating in a report on Saturday, June 20th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average 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.