IFP Advisors Inc Decreases Stock Position in Garmin Ltd. $GRMN

IFP Advisors Inc lessened its stake in shares of Garmin Ltd. (NYSE:GRMN) by 74.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,602 shares of the scientific and technical instruments company’s stock after selling 4,771 shares during the quarter. IFP Advisors Inc’s holdings in Garmin were worth $325,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Penserra Capital Management LLC boosted its stake in shares of Garmin by 43.4% during the third quarter. Penserra Capital Management LLC now owns 22,496 shares of the scientific and technical instruments company’s stock valued at $5,538,000 after purchasing an additional 6,806 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Garmin by 25.9% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,584 shares of the scientific and technical instruments company’s stock valued at $5,314,000 after purchasing an additional 4,437 shares during the period. Krilogy Financial LLC purchased a new position in Garmin in the 3rd quarter worth about $1,519,000. ARK Investment Management LLC increased its stake in Garmin by 10.9% in the 3rd quarter. ARK Investment Management LLC now owns 28,925 shares of the scientific and technical instruments company’s stock worth $7,122,000 after buying an additional 2,852 shares during the period. Finally, Diversified Trust Co. increased its stake in Garmin by 123.1% in the 4th quarter. Diversified Trust Co. now owns 8,248 shares of the scientific and technical instruments company’s stock worth $1,673,000 after buying an additional 4,551 shares during the period. Hedge funds and other institutional investors own 81.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on GRMN shares. Barclays dropped their target price on shares of Garmin from $240.00 to $238.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 30th. Zacks Research downgraded shares of Garmin from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. 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, Tigress Financial upped their target price on shares of Garmin from $320.00 to $325.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, May 20th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Garmin has an average rating of “Moderate Buy” and an average price target of $269.40.

Garmin Trading Down 0.1%

Shares of Garmin stock opened at $238.28 on Thursday. The firm has a market cap of $45.95 billion, a P/E ratio of 26.56, a P/E/G ratio of 2.81 and a beta of 0.94. Garmin Ltd. has a 12 month low of $186.67 and a 12 month high of $273.32. The stock’s fifty day moving average price is $244.48 and its 200-day moving average price is $223.42.

Garmin (NYSE:GRMN) last announced its quarterly earnings results on Wednesday, April 29th. The scientific and technical instruments company reported $2.08 EPS for the quarter, beating the consensus estimate of $1.84 by $0.24. The firm had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.72 billion. Garmin had a return on equity of 20.07% and a net margin of 23.26%.The business’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.61 earnings per share. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. Analysts forecast that Garmin Ltd. will post 9.57 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.