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

Waterfront Wealth Inc. increased its holdings in shares of Garmin Ltd. (NYSE:GRMN) by 43.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,292 shares of the scientific and technical instruments company’s stock after purchasing an additional 2,528 shares during the period. Waterfront Wealth Inc.’s holdings in Garmin were worth $1,924,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in shares of Garmin in the fourth quarter worth about $395,234,000. Alliancebernstein L.P. raised its holdings in shares of Garmin by 649.2% during the 3rd quarter. Alliancebernstein L.P. now owns 1,256,668 shares of the scientific and technical instruments company’s stock valued at $309,417,000 after buying an additional 1,088,938 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of Garmin during the 4th quarter valued at about $214,382,000. Man Group plc lifted its position in Garmin by 232.0% during the 4th quarter. Man Group plc now owns 812,390 shares of the scientific and technical instruments company’s stock worth $164,793,000 after acquiring an additional 567,711 shares in the last quarter. Finally, Westfield Capital Management Co. LP acquired a new position in Garmin during the 4th quarter worth approximately $68,106,000. 81.60% of the stock is currently owned by institutional investors and hedge funds.

Garmin Stock Performance

Shares of GRMN opened at $244.25 on Friday. Garmin Ltd. has a one year low of $186.67 and a one year high of $273.32. The stock has a 50-day moving average price of $238.07 and a 200 day moving average price of $231.97. The company has a market capitalization of $47.11 billion, a P/E ratio of 27.23, a P/E/G ratio of 2.88 and a beta of 0.90.

Garmin (NYSE:GRMN) last posted its quarterly earnings data on Wednesday, April 29th. The scientific and technical instruments company reported $2.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.24. Garmin had a return on equity of 20.07% and a net margin of 23.26%.The company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.72 billion. During the same period in the previous year, the business earned $1.61 EPS. Garmin’s revenue for the quarter was up 14.0% compared to the same quarter last year. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. As a group, equities research analysts forecast that Garmin Ltd. will post 9.53 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Garmin news, CFO Douglas G. Boessen sold 2,000 shares of the 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 directly owned 26,049 shares in the company, valued at $6,197,317.59. This represents a 7.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Joseph J. Hartnett sold 643 shares of the 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 in the company, valued at $5,607,978.89. This trade represents a 2.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 15.38% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have issued reports on GRMN shares. JPMorgan Chase & Co. increased their price objective on shares of Garmin from $265.00 to $285.00 and gave the company a “neutral” rating in a research report on Thursday, April 16th. Zacks Research cut shares of Garmin from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 1st. Weiss Ratings restated a “buy (b)” rating on shares of Garmin in a research note on Monday, June 8th. Tigress Financial raised their price target on shares of Garmin from $320.00 to $325.00 and gave the company a “strong-buy” rating in a report on Wednesday, May 20th. Finally, Barclays dropped their price target 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. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $269.40.

Garmin Company 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.