Element Capital Management LLC Acquires Shares of 9,373 Garmin Ltd. $GRMN

Element Capital Management LLC bought a new position in Garmin Ltd. (NYSE:GRMN) during the 4th quarter, Holdings Channel.com reports. The fund bought 9,373 shares of the scientific and technical instruments company’s stock, valued at approximately $1,901,000. Garmin makes up approximately 0.9% of Element Capital Management LLC’s holdings, making the stock its 27th biggest holding.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Atlas Capital Advisors Inc. purchased a new stake in Garmin in the 4th quarter worth $34,000. Torren Management LLC purchased a new position in shares of Garmin during the fourth quarter valued at about $41,000. GraniteShares Advisors LLC bought a new stake in shares of Garmin in the fourth quarter worth about $41,000. DV Equities LLC bought a new stake in shares of Garmin in the fourth quarter worth about $46,000. Finally, Itau Unibanco Holding S.A. lifted its position in shares of 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 buying an additional 53 shares in the last quarter. Institutional investors own 81.60% of the company’s stock.

Insider Transactions at Garmin

In other Garmin news, Director Joseph J. Hartnett sold 643 shares of the firm’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $263.57, for a total value of $169,475.51. Following the completion of the sale, the director owned 21,277 shares of the company’s stock, valued at $5,607,978.89. This trade represents 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 hyperlink. Also, CFO Douglas G. Boessen sold 2,000 shares of the business’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 transaction, the chief financial officer owned 26,049 shares of the company’s stock, valued at $6,197,317.59. This trade represents a 7.13% decrease in their position. The disclosure for this sale is available in the SEC filing. 15.38% of the stock is currently owned by insiders.

Garmin Stock Performance

Shares of Garmin stock opened at $232.30 on Thursday. The stock has a market cap of $44.80 billion, a price-to-earnings ratio of 25.90, a price-to-earnings-growth ratio of 2.78 and a beta of 0.91. The stock has a 50 day moving average price of $244.78 and a 200-day moving average price of $227.92. Garmin Ltd. has a one year low of $186.67 and a one year high of $273.32.

Garmin (NYSE:GRMN) last issued 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 company had revenue of $1.75 billion during 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%.Garmin’s revenue was up 14.0% on a year-over-year basis. During the same period last year, the company earned $1.61 earnings per share. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. Sell-side analysts predict that Garmin Ltd. will post 9.53 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on GRMN. Wall Street Zen upgraded Garmin from a “hold” rating to a “buy” rating in a report on Saturday, June 6th. Morgan Stanley set a $249.00 target price on Garmin in a research report on Thursday, April 30th. Weiss Ratings restated a “buy (b)” rating on shares of Garmin in a research report on Monday, June 8th. Tigress Financial upped 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. Finally, Zacks Research lowered shares of Garmin from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Garmin presently has a consensus rating of “Moderate Buy” and a consensus target price of $269.40.

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.