Wedge Capital Management L L P NC Lowers Position in Garmin Ltd. $GRMN

Wedge Capital Management L L P NC decreased its holdings in shares of Garmin Ltd. (NYSE:GRMN) by 1.4% during the second quarter, according to its most recent filing with the SEC. The firm owned 149,133 shares of the scientific and technical instruments company’s stock after selling 2,115 shares during the period. Wedge Capital Management L L P NC owned 0.08% of Garmin worth $35,425,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. GSA Capital Partners LLP acquired a new stake in shares of Garmin during the fourth quarter worth $979,000. Commerzbank Aktiengesellschaft FI increased its position in shares of Garmin by 282.5% in the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 6,518 shares of the scientific and technical instruments company’s stock valued at $1,322,000 after acquiring an additional 4,814 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in Garmin by 121.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 107,929 shares of the scientific and technical instruments company’s stock worth $25,041,000 after acquiring an additional 59,229 shares during the last quarter. Generali Asset Management SPA SGR lifted its position in Garmin by 8,727.4% during the 4th quarter. Generali Asset Management SPA SGR now owns 9,357 shares of the scientific and technical instruments company’s stock worth $1,898,000 after acquiring an additional 9,251 shares during the period. Finally, Westerkirk Capital Inc. increased its holdings in shares of Garmin by 88.2% in the fourth quarter. Westerkirk Capital Inc. now owns 20,700 shares of the scientific and technical instruments company’s stock valued at $4,199,000 after purchasing an additional 9,700 shares during the period. Hedge funds and other institutional investors own 81.60% of the company’s stock.

Garmin Trading Down 1.2%

Shares of NYSE GRMN opened at $309.26 on Wednesday. The business’s fifty day simple moving average is $252.73 and its 200-day simple moving average is $242.09. The stock has a market cap of $59.64 billion, a P/E ratio of 31.88, a PEG ratio of 3.49 and a beta of 0.87. Garmin Ltd. has a 12-month low of $186.67 and a 12-month high of $314.28.

Garmin (NYSE:GRMN) last announced its quarterly earnings data on Wednesday, July 29th. The scientific and technical instruments company reported $2.81 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.51. Garmin had a net margin of 24.47% and a return on equity of 20.95%. The company had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $1.93 billion. During the same period in the prior year, the firm posted $2.17 EPS. The company’s quarterly revenue was up 11.4% compared to the same quarter last year. Garmin has set its FY 2026 guidance at 10.000-10.000 EPS. On average, equities analysts forecast that Garmin Ltd. will post 10.1 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

GRMN has been the topic of a number of recent analyst reports. Barclays increased their price target on shares of Garmin from $238.00 to $297.00 and gave the stock an “equal weight” rating in a report on Thursday, July 30th. Tigress Financial reaffirmed a “strong-buy” rating on shares of Garmin in a report on Thursday, August 6th. Zacks Research raised Garmin from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 31st. JPMorgan Chase & Co. upped their price objective on shares of Garmin from $265.00 to $285.00 and gave the stock a “neutral” rating in a research report on Thursday, April 16th. Finally, Morgan Stanley boosted their target price on shares of Garmin from $249.00 to $289.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $310.17.

Insider Buying and Selling

In related news, Director Sean Biddlecombe sold 986 shares of the stock in a transaction on Friday, July 31st. The shares were sold at an average price of $292.88, for a total value of $288,779.68. Following the transaction, the director directly owned 6,021 shares of the company’s stock, valued at $1,763,430.48. This trade represents a 14.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Clifton A. Pemble sold 4,029 shares of the business’s stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $300.00, for a total transaction of $1,208,700.00. Following the completion of the sale, the chief executive officer directly owned 120,127 shares of the company’s stock, valued at approximately $36,038,100. This trade represents a 3.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 8,810 shares of company stock valued at $2,478,157 over the last three months. 14.80% of the stock is currently owned by insiders.

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.