Goldman Sachs Group Inc. Buys 315,163 Shares of Garmin Ltd. $GRMN

Goldman Sachs Group Inc. increased its stake in shares of Garmin Ltd. (NYSE:GRMN) by 32.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,289,156 shares of the scientific and technical instruments company’s stock after buying an additional 315,163 shares during the quarter. Goldman Sachs Group Inc. owned 0.67% of Garmin worth $261,505,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of GRMN. Norges Bank bought a new position in shares of Garmin during the 4th quarter worth approximately $395,234,000. Alliancebernstein L.P. lifted its position in shares of Garmin by 649.2% during the 3rd quarter. Alliancebernstein L.P. now owns 1,256,668 shares of the scientific and technical instruments company’s stock worth $309,417,000 after buying an additional 1,088,938 shares during the period. Vanguard Group Inc. lifted its position in shares of Garmin by 2.5% during the 3rd quarter. Vanguard Group Inc. now owns 20,197,564 shares of the scientific and technical instruments company’s stock worth $4,973,044,000 after buying an additional 499,235 shares during the period. KBC Group NV lifted its position in shares of Garmin by 113.6% during the 4th quarter. KBC Group NV now owns 561,291 shares of the scientific and technical instruments company’s stock worth $113,859,000 after buying an additional 298,462 shares during the period. Finally, Lazard Asset Management LLC lifted its position in shares of Garmin by 530.5% during the 3rd quarter. Lazard Asset Management LLC now owns 351,690 shares of the scientific and technical instruments company’s stock worth $86,593,000 after buying an additional 295,914 shares during the period. Institutional investors own 81.60% of the company’s stock.

Garmin Price Performance

GRMN stock opened at $236.62 on Friday. The business has a fifty day moving average price of $244.62 and a 200 day moving average price of $225.18. Garmin Ltd. has a fifty-two week low of $186.67 and a fifty-two week high of $273.32. The stock has a market capitalization of $45.63 billion, a price-to-earnings ratio of 26.38, a P/E/G ratio of 2.79 and a beta of 0.91.

Garmin (NYSE:GRMN) last released its quarterly earnings results on Wednesday, April 29th. The scientific and technical instruments company reported $2.08 earnings per share for the quarter, beating 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 firm had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same period last year, the firm posted $1.61 EPS. The business’s revenue was up 14.0% on a year-over-year basis. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. On average, equities analysts expect that Garmin Ltd. will post 9.53 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently commented on GRMN. Morgan Stanley set a $249.00 target price on Garmin in a research report on Thursday, April 30th. Tigress Financial raised 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. Zacks Research downgraded Garmin from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 1st. Wall Street Zen upgraded Garmin from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Barclays cut their target price on Garmin from $240.00 to $238.00 and set an “equal weight” rating for the company in a research report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $269.40.

Garmin 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.