Garmin Ltd. $GRMN Shares Purchased by Azzad Asset Management Inc. ADV

Azzad Asset Management Inc. ADV raised its stake in Garmin Ltd. (NYSE:GRMN) by 24.8% during the 1st quarter, HoldingsChannel reports. The firm owned 19,660 shares of the scientific and technical instruments company’s stock after acquiring an additional 3,910 shares during the period. Azzad Asset Management Inc. ADV’s holdings in Garmin were worth $4,561,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GRMN. GSA Capital Partners LLP purchased a new position in Garmin in the fourth quarter valued at about $979,000. Diversified Trust Co. boosted its stake in shares of Garmin by 123.1% during 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 acquiring an additional 4,551 shares in the last quarter. DB Fitzpatrick & Co Inc acquired a new stake in shares of Garmin in the 4th quarter worth approximately $1,439,000. Nordea Investment Management AB grew its holdings in shares of Garmin by 12.0% in the 4th quarter. Nordea Investment Management AB now owns 93,493 shares of the scientific and technical instruments company’s stock worth $19,011,000 after acquiring an additional 10,020 shares during the period. Finally, Generali Asset Management SPA SGR increased its stake in Garmin by 8,727.4% in the 4th quarter. Generali Asset Management SPA SGR now owns 9,357 shares of the scientific and technical instruments company’s stock valued at $1,898,000 after purchasing an additional 9,251 shares in the last quarter. Institutional investors and hedge funds own 81.60% of the company’s stock.

Analyst Ratings Changes

GRMN has been the subject of several recent research reports. Tigress Financial raised their target price 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. JPMorgan Chase & Co. boosted their price objective on shares of Garmin from $265.00 to $285.00 and gave the company a “neutral” rating in a research note on Thursday, April 16th. 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 Garmin in a research note on Thursday, April 30th. Finally, Barclays lowered their price target on shares of Garmin from $240.00 to $238.00 and set an “equal weight” rating for the company in a report on Thursday, April 30th. One investment 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’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $269.40.

Garmin Stock Performance

NYSE GRMN opened at $244.25 on Friday. The company has a 50-day simple moving average of $238.07 and a 200-day simple moving average of $231.97. Garmin Ltd. has a one year low of $186.67 and a one year high of $273.32. The firm has a market capitalization of $47.11 billion, a PE ratio of 27.23, a price-to-earnings-growth ratio of 2.88 and a beta of 0.90.

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 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 analysts’ expectations of $1.72 billion. During the same period in the prior year, the firm earned $1.61 EPS. The business’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. Equities analysts forecast that Garmin Ltd. will post 9.53 earnings per share for the current year.

Insider Activity at Garmin

In related news, CFO Douglas G. Boessen sold 2,000 shares of the company’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $237.91, for a total value of $475,820.00. Following the completion of the sale, the chief financial officer owned 26,049 shares of the company’s stock, valued at $6,197,317.59. This represents a 7.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Joseph J. Hartnett sold 643 shares of the stock in a transaction that occurred 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 completion of the transaction, the director owned 21,277 shares of the company’s stock, valued at $5,607,978.89. This trade represents a 2.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 15.38% of the stock is currently owned by company insiders.

About Garmin

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.