Garmin Ltd. $GRMN Stock Position Reduced by Geode Capital Management LLC

Geode Capital Management LLC decreased its position in shares of Garmin Ltd. (NYSE:GRMN) by 7.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 4,510,853 shares of the scientific and technical instruments company’s stock after selling 337,563 shares during the period. Geode Capital Management LLC’s holdings in Garmin were worth $911,659,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Daymark Wealth Partners LLC boosted its position in Garmin by 0.7% during the fourth quarter. Daymark Wealth Partners LLC now owns 6,813 shares of the scientific and technical instruments company’s stock valued at $1,382,000 after purchasing an additional 48 shares during the last quarter. SYM FINANCIAL Corp boosted its position in Garmin by 4.0% during the third quarter. SYM FINANCIAL Corp now owns 1,294 shares of the scientific and technical instruments company’s stock valued at $319,000 after purchasing an additional 50 shares during the last quarter. S.A. Mason LLC boosted its position in Garmin by 2.4% during the fourth quarter. S.A. Mason LLC now owns 2,150 shares of the scientific and technical instruments company’s stock valued at $436,000 after purchasing an additional 50 shares during the last quarter. Quadrant Capital Group LLC boosted its position in Garmin by 1.0% during the third quarter. Quadrant Capital Group LLC now owns 4,917 shares of the scientific and technical instruments company’s stock valued at $1,211,000 after purchasing an additional 51 shares during the last quarter. Finally, Wealthcare Advisory Partners LLC boosted its position in Garmin by 0.7% during the third quarter. Wealthcare Advisory Partners LLC now owns 7,724 shares of the scientific and technical instruments company’s stock valued at $1,902,000 after purchasing an additional 53 shares during the last quarter. Institutional investors and hedge funds own 81.60% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on GRMN shares. JPMorgan Chase & Co. raised 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. Morgan Stanley set a $249.00 price objective on shares of Garmin in a research report on Thursday, April 30th. Zacks Research lowered shares of Garmin from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 1st. Barclays cut their target price on Garmin from $240.00 to $238.00 and set an “equal weight” rating on the stock in a report on Thursday, April 30th. Finally, Tigress Financial upped their target price on Garmin from $320.00 to $325.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, May 20th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Garmin has an average rating of “Moderate Buy” and an average price target of $269.40.

Garmin Stock Performance

Shares of GRMN opened at $234.00 on Friday. The company has a 50-day simple moving average of $244.55 and a 200-day simple moving average of $223.74. The firm has a market capitalization of $45.13 billion, a P/E ratio of 26.09, a P/E/G ratio of 2.79 and a beta of 0.94. Garmin Ltd. has a 52 week low of $186.67 and a 52 week high of $273.32.

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

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.