Siemens Fonds Invest GmbH Sells 4,114 Shares of Garmin Ltd. $GRMN

Siemens Fonds Invest GmbH lowered its position in Garmin Ltd. (NYSE:GRMN) by 17.4% during the 4th quarter, HoldingsChannel reports. The fund owned 19,534 shares of the scientific and technical instruments company’s stock after selling 4,114 shares during the period. Siemens Fonds Invest GmbH’s holdings in Garmin were worth $4,006,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in GRMN. Atlas Capital Advisors Inc. purchased a new position in shares of Garmin during the 4th quarter worth about $34,000. GraniteShares Advisors LLC purchased a new stake in Garmin in the 4th quarter worth about $41,000. Torren Management LLC bought a new stake in Garmin in the fourth quarter worth about $41,000. Itau Unibanco Holding S.A. lifted its stake in Garmin by 23.0% in the fourth quarter. Itau Unibanco Holding S.A. now owns 283 shares of the scientific and technical instruments company’s stock worth $57,000 after purchasing an additional 53 shares during the last quarter. Finally, Elyxium Wealth LLC purchased a new position in shares of Garmin during the fourth quarter valued at approximately $60,000. Institutional investors own 81.60% of the company’s stock.

Garmin Stock Down 1.1%

Shares of NYSE GRMN opened at $235.45 on Wednesday. Garmin Ltd. has a twelve month low of $186.67 and a twelve month high of $273.32. The firm has a market cap of $45.41 billion, a PE ratio of 26.25, a price-to-earnings-growth ratio of 2.81 and a beta of 0.91. The business has a fifty day simple moving average of $245.00 and a two-hundred day simple moving average of $227.66.

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

Analyst Ratings Changes

GRMN has been the topic of a number of analyst reports. Zacks Research cut Garmin from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. Wall Street Zen raised Garmin from a “hold” rating to a “buy” rating in a research note on Saturday, June 6th. Weiss Ratings restated a “buy (b)” rating on shares of Garmin in a report on Monday, June 8th. Barclays reduced their target price 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. Finally, JPMorgan Chase & Co. lifted their target price on Garmin from $265.00 to $285.00 and gave the stock a “neutral” rating in a research report on Thursday, April 16th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $269.40.

Insider Activity

In other news, CFO Douglas G. Boessen sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $237.91, for a total value of $475,820.00. Following the completion of the sale, the chief financial officer owned 26,049 shares of the company’s stock, valued at approximately $6,197,317.59. This represents a 7.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joseph J. Hartnett sold 643 shares of the 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 transaction, the director owned 21,277 shares in the company, valued at approximately $5,607,978.89. This represents a 2.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 19.54% of the stock is owned by corporate insiders.

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.