Peloton Wealth Strategists Buys New Position in Garmin Ltd. $GRMN

Peloton Wealth Strategists purchased a new stake in Garmin Ltd. (NYSE:GRMN) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 9,325 shares of the scientific and technical instruments company’s stock, valued at approximately $1,892,000.

Other large investors have also bought and sold shares of the company. Brighton Jones LLC raised its holdings in shares of Garmin by 31.3% in the fourth quarter. Brighton Jones LLC now owns 1,943 shares of the scientific and technical instruments company’s stock valued at $401,000 after purchasing an additional 463 shares during the last quarter. NewEdge Advisors LLC lifted its position in shares of Garmin by 6.2% during the first quarter. NewEdge Advisors LLC now owns 5,885 shares of the scientific and technical instruments company’s stock valued at $1,278,000 after purchasing an additional 345 shares in the last quarter. Woodline Partners LP boosted its holdings in Garmin by 40.6% during the first quarter. Woodline Partners LP now owns 13,017 shares of the scientific and technical instruments company’s stock worth $2,826,000 after purchasing an additional 3,757 shares during the last quarter. Focus Partners Wealth grew its position in Garmin by 51.1% in the 1st quarter. Focus Partners Wealth now owns 6,811 shares of the scientific and technical instruments company’s stock worth $1,479,000 after purchasing an additional 2,304 shares in the last quarter. Finally, Sivia Capital Partners LLC grew its position in Garmin by 17.0% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,662 shares of the scientific and technical instruments company’s stock worth $347,000 after purchasing an additional 242 shares in the last quarter. 81.60% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Garmin

In other Garmin news, CFO Douglas G. Boessen sold 2,000 shares of the firm’s stock in a transaction on Friday, June 5th. The stock was 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 directly owned 26,049 shares of the company’s stock, valued at $6,197,317.59. This trade represents a 7.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Joseph J. Hartnett sold 643 shares of the business’s stock in a transaction on 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 in the company, valued at approximately $5,607,978.89. The trade was a 2.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 19.54% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

GRMN has been the topic of several recent analyst reports. Tigress Financial lifted their target price on shares of Garmin from $320.00 to $325.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, May 20th. Morgan Stanley set a $249.00 target price on Garmin in a report on Thursday, April 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Garmin in a research report on Monday, June 8th. 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. Finally, Wall Street Zen raised Garmin from a “hold” rating to a “buy” rating in a research report on Saturday, June 6th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $269.40.

Garmin Stock Performance

Shares of GRMN stock opened at $235.45 on Wednesday. The firm has a market cap of $45.41 billion, a price-to-earnings ratio of 26.25, a P/E/G ratio of 2.81 and a beta of 0.91. Garmin Ltd. has a 52 week low of $186.67 and a 52 week high of $273.32. The firm’s 50-day simple moving average is $245.00 and its two-hundred day simple moving average is $227.66.

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

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.