Bowen Hanes & Co. Inc. Sells 16,810 Shares of Garmin Ltd. $GRMN

Bowen Hanes & Co. Inc. lowered its stake in shares of Garmin Ltd. (NYSE:GRMN) by 71.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,725 shares of the scientific and technical instruments company’s stock after selling 16,810 shares during the period. Bowen Hanes & Co. Inc.’s holdings in Garmin were worth $1,560,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of GRMN. GSA Capital Partners LLP bought a new stake in Garmin in the 4th quarter valued at $979,000. Diversified Trust Co. increased its position in 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 buying an additional 4,551 shares during the period. DB Fitzpatrick & Co Inc bought a new position in Garmin during the 4th quarter worth $1,439,000. Commerzbank Aktiengesellschaft FI lifted its holdings in shares of Garmin by 282.5% during the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 6,518 shares of the scientific and technical instruments company’s stock worth $1,322,000 after buying an additional 4,814 shares in the last quarter. Finally, Generali Asset Management SPA SGR boosted its position in shares of Garmin by 8,727.4% in the fourth 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 acquiring an additional 9,251 shares during the period. Institutional investors own 81.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Garmin in a research note on Monday, June 8th. Morgan Stanley set a $249.00 price objective on shares of Garmin in a report on Thursday, April 30th. Zacks Research cut shares of Garmin from a “strong-buy” rating to a “hold” rating in a report on Friday, May 1st. JPMorgan Chase & Co. lifted their price target 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. Finally, Tigress Financial boosted their price target on Garmin from $320.00 to $325.00 and gave the company a “strong-buy” rating in a research note on Wednesday, May 20th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $269.40.

Insider Activity at Garmin

In other Garmin news, Director Joseph J. Hartnett sold 643 shares of the business’s 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 directly owned 21,277 shares in the company, valued at $5,607,978.89. The trade was a 2.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Douglas G. Boessen sold 2,000 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at $6,197,317.59. The trade was a 7.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 14.80% of the company’s stock.

Garmin Stock Down 0.2%

GRMN stock opened at $239.94 on Friday. The company has a market cap of $46.27 billion, a PE ratio of 26.75, a price-to-earnings-growth ratio of 2.84 and a beta of 0.90. The business has a 50-day simple moving average of $238.48 and a 200 day simple moving average of $234.70. Garmin Ltd. has a 52 week low of $186.67 and a 52 week high of $273.32.

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 for the quarter, topping the consensus estimate of $1.84 by $0.24. The business 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%. Garmin’s revenue was up 14.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.61 earnings per share. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. On average, analysts anticipate that Garmin Ltd. will post 9.53 EPS for the current fiscal year.

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.