Garmin Ltd. $GRMN Stock Holdings Cut by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its position in Garmin Ltd. (NYSE:GRMN) by 1.0% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 198,023 shares of the scientific and technical instruments company’s stock after selling 2,060 shares during the period. Principal Financial Group Inc. owned approximately 0.10% of Garmin worth $45,943,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. GSA Capital Partners LLP acquired a new position in shares of Garmin in the 4th quarter worth approximately $979,000. Diversified Trust Co. lifted its stake in Garmin by 123.1% during the fourth quarter. Diversified Trust Co. now owns 8,248 shares of the scientific and technical instruments company’s stock valued at $1,673,000 after purchasing an additional 4,551 shares during the last quarter. DB Fitzpatrick & Co Inc acquired a new stake in Garmin during the fourth quarter valued at approximately $1,439,000. Nordea Investment Management AB boosted its holdings in Garmin by 12.0% during the fourth quarter. Nordea Investment Management AB now owns 93,493 shares of the scientific and technical instruments company’s stock worth $19,011,000 after buying an additional 10,020 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI grew its position in Garmin by 282.5% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 6,518 shares of the scientific and technical instruments company’s stock worth $1,322,000 after buying an additional 4,814 shares during the last quarter. Institutional investors and hedge funds own 81.60% of the company’s stock.

Garmin Stock Performance

Shares of NYSE:GRMN opened at $249.86 on Friday. The firm has a 50 day simple moving average of $238.18 and a 200 day simple moving average of $233.46. Garmin Ltd. has a 52 week low of $186.67 and a 52 week high of $273.32. The company has a market cap of $48.19 billion, a PE ratio of 27.85, a price-to-earnings-growth ratio of 2.97 and a beta of 0.90.

Garmin (NYSE:GRMN) last posted its quarterly earnings data on Wednesday, April 29th. The scientific and technical instruments company reported $2.08 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.24. Garmin had a net margin of 23.26% and a return on equity of 20.07%. The firm had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.72 billion. During the same period in the previous year, the company posted $1.61 EPS. The company’s quarterly revenue was up 14.0% compared to the same quarter last year. 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 year.

Analysts Set New Price Targets

Several research firms have issued reports on GRMN. Barclays dropped their price target on Garmin from $240.00 to $238.00 and set an “equal weight” rating on the stock in a report on Thursday, April 30th. Tigress Financial lifted their target price on Garmin from $320.00 to $325.00 and gave the stock a “strong-buy” rating in a report on Wednesday, May 20th. Zacks Research lowered Garmin from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 1st. Morgan Stanley set a $249.00 target price on Garmin in a report on Thursday, April 30th. Finally, JPMorgan Chase & Co. increased their price target on Garmin from $265.00 to $285.00 and gave the company a “neutral” rating in a research report on Thursday, April 16th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $269.40.

Insiders Place Their Bets

In related news, Director Joseph J. Hartnett sold 643 shares of the stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $263.57, for a total value of $169,475.51. Following the completion of the sale, the director directly owned 21,277 shares of the company’s stock, valued at approximately $5,607,978.89. This represents a 2.93% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Douglas G. Boessen sold 2,000 shares of the firm’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $237.91, for a total value 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 disclosure for this sale is available in the SEC filing. Insiders own 14.80% of the company’s stock.

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.