Garmin Ltd. $GRMN Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund lessened its stake in shares of Garmin Ltd. (NYSE:GRMN) by 13.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 67,305 shares of the scientific and technical instruments company’s stock after selling 10,299 shares during the period. Illinois Municipal Retirement Fund’s holdings in Garmin were worth $15,615,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the company. State Street Corp raised its stake in Garmin by 1.8% during the third quarter. State Street Corp now owns 7,250,844 shares of the scientific and technical instruments company’s stock worth $1,785,304,000 after purchasing an additional 126,677 shares during the period. Norges Bank purchased a new stake in shares of Garmin in the 4th quarter valued at approximately $395,234,000. Northern Trust Corp grew its stake in shares of Garmin by 3.8% in the 4th quarter. Northern Trust Corp now owns 1,719,677 shares of the scientific and technical instruments company’s stock valued at $348,836,000 after buying an additional 63,283 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Garmin by 6.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,591,369 shares of the scientific and technical instruments company’s stock worth $322,837,000 after buying an additional 96,850 shares during the last quarter. Finally, Disciplined Growth Investors Inc. MN raised its position in shares of Garmin by 0.4% during the 2nd 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 period. Hedge funds and other institutional investors own 81.60% of the company’s stock.

Garmin Stock Up 3.5%

Shares of GRMN opened at $250.31 on Friday. The company has a market cap of $48.27 billion, a P/E ratio of 27.90, a PEG ratio of 2.86 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 firm’s 50 day moving average price is $237.98 and its 200 day moving average price is $233.34.

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, beating the consensus estimate of $1.84 by $0.24. The company had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.72 billion. Garmin had a net margin of 23.26% and a return on equity of 20.07%. The firm’s revenue was up 14.0% compared to the same quarter last year. During the same quarter last year, the company posted $1.61 EPS. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. Research analysts forecast that Garmin Ltd. will post 9.53 earnings per share for the current year.

Insider Buying and Selling at Garmin

In other Garmin news, Director Joseph J. Hartnett sold 643 shares of the company’s stock in a transaction dated 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 owned 21,277 shares in the company, valued at $5,607,978.89. This represents a 2.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Douglas G. Boessen sold 2,000 shares of the company’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $237.91, for a total value of $475,820.00. Following the sale, the chief financial officer owned 26,049 shares in the company, valued at approximately $6,197,317.59. This trade represents a 7.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 14.80% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently commented on the company. JPMorgan Chase & Co. upped their price objective on Garmin from $265.00 to $285.00 and gave the company a “neutral” rating in a report on Thursday, April 16th. Morgan Stanley set a $249.00 target price on Garmin in a research report on Thursday, April 30th. Barclays decreased their price target 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. Wall Street Zen downgraded Garmin from a “buy” rating to a “hold” rating in a research report on Saturday, June 20th. Finally, Zacks Research lowered shares of Garmin from a “strong-buy” rating to a “hold” rating in a report on Friday, May 1st. One research 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. Based on data from MarketBeat.com, Garmin currently has a consensus rating of “Moderate Buy” and an average price target of $269.40.

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.