Natixis Advisors LLC Sells 5,344 Shares of Garmin Ltd. $GRMN

Natixis Advisors LLC lowered its stake in Garmin Ltd. (NYSE:GRMN) by 9.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 51,311 shares of the scientific and technical instruments company’s stock after selling 5,344 shares during the quarter. Natixis Advisors LLC’s holdings in Garmin were worth $10,408,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of GRMN. GraniteShares Advisors LLC bought a new stake in shares of Garmin in the 4th quarter valued at $41,000. Torren Management LLC bought a new stake in shares of Garmin in the 4th quarter valued at $41,000. Elyxium Wealth LLC bought a new stake in shares of Garmin in the 4th quarter valued at $60,000. Camelot Portfolios LLC bought a new stake in shares of Garmin in the 4th quarter valued at $81,000. Finally, Chesapeake Asset Management LLC bought a new stake in shares of Garmin in the 4th quarter valued at $94,000. Institutional investors own 81.60% of the company’s stock.

Garmin Trading Down 2.2%

Shares of GRMN stock opened at $236.62 on Friday. The firm has a market capitalization of $45.63 billion, a PE ratio of 26.38, a price-to-earnings-growth ratio of 2.79 and a beta of 0.91. The firm has a fifty day simple moving average of $244.62 and a two-hundred day simple moving average of $225.18. Garmin Ltd. has a 12 month low of $186.67 and a 12 month high of $273.32.

Garmin (NYSE:GRMN) last announced its quarterly earnings results 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%. Garmin’s quarterly revenue was up 14.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.61 EPS. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. On average, equities analysts predict that Garmin Ltd. will post 9.53 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently weighed in on GRMN. Barclays lowered their price objective on shares of Garmin from $240.00 to $238.00 and set an “equal weight” rating for the company in a research note on Thursday, April 30th. Zacks Research lowered shares of Garmin from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. Morgan Stanley set a $249.00 price objective on shares of Garmin in a research note on Thursday, April 30th. Wall Street Zen upgraded shares of Garmin from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Tigress Financial boosted their price target on shares of Garmin from $320.00 to $325.00 and gave the company a “strong-buy” rating in a research note on Wednesday, May 20th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.