Empirical Financial Services LLC d.b.a. Empirical Wealth Management Purchases 5,006 Shares of Garmin Ltd. $GRMN

Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its position in Garmin Ltd. (NYSE:GRMN) by 26.9% during the 1st quarter, Holdings Channel reports. The institutional investor owned 23,584 shares of the scientific and technical instruments company’s stock after purchasing an additional 5,006 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Garmin were worth $5,472,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Reflection Asset Management purchased a new stake in Garmin during the 4th quarter valued at $32,000. Archer Investment Corp bought a new stake in Garmin in the 1st quarter worth $37,000. Atlas Capital Advisors Inc. purchased a new position in shares of Garmin in the fourth quarter valued at about $34,000. Torren Management LLC purchased a new position in shares of Garmin in the fourth quarter valued at about $41,000. Finally, GraniteShares Advisors LLC bought a new position in shares of Garmin during the fourth quarter valued at about $41,000. 81.60% of the stock is currently owned by institutional investors.

Garmin Trading Down 1.1%

Shares of Garmin stock opened at $241.04 on Wednesday. The firm has a market capitalization of $46.49 billion, a P/E ratio of 26.87, a P/E/G ratio of 2.88 and a beta of 0.90. The business has a fifty day simple moving average of $237.83 and a two-hundred day simple moving average of $232.77. Garmin Ltd. has a 12 month low of $186.67 and a 12 month high of $273.32.

Garmin (NYSE:GRMN) last announced its 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 firm had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.72 billion. Garmin had a net margin of 23.26% and a return on equity of 20.07%. The company’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. Analysts predict that Garmin Ltd. will post 9.53 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently weighed in on GRMN shares. Tigress Financial increased their target price on shares of Garmin from $320.00 to $325.00 and gave the stock a “strong-buy” rating in a report on Wednesday, May 20th. Wall Street Zen downgraded Garmin from a “buy” rating to a “hold” rating in a report on Saturday, June 20th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Garmin in a research report on Monday, June 8th. Zacks Research cut Garmin from a “strong-buy” rating to a “hold” rating in a report on Friday, May 1st. Finally, Morgan Stanley set a $249.00 price objective on Garmin in a research report on Thursday, April 30th. 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 data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $269.40.

Insider Transactions at Garmin

In related news, CFO Douglas G. Boessen sold 2,000 shares of the business’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $237.91, for a total transaction of $475,820.00. Following the sale, the chief financial officer owned 26,049 shares of the company’s stock, valued at $6,197,317.59. The trade was a 7.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Joseph J. Hartnett sold 643 shares of the company’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $263.57, for a total transaction of $169,475.51. Following the completion of the sale, the director owned 21,277 shares in the company, valued at approximately $5,607,978.89. This trade represents a 2.93% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 14.80% of the company’s stock.

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.