Turtle Creek Wealth Advisors LLC Raises Stock Holdings in Garmin Ltd. $GRMN

Turtle Creek Wealth Advisors LLC grew its position in shares of Garmin Ltd. (NYSE:GRMN) by 35.9% in the first quarter, according to its most recent filing with the SEC. The fund owned 42,460 shares of the scientific and technical instruments company’s stock after acquiring an additional 11,208 shares during the quarter. Turtle Creek Wealth Advisors LLC’s holdings in Garmin were worth $9,851,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of GRMN. Westmount Partners LLC increased its position in Garmin by 1.9% in the first quarter. Westmount Partners LLC now owns 2,205 shares of the scientific and technical instruments company’s stock worth $512,000 after purchasing an additional 42 shares during the last quarter. Caldwell Trust Co lifted its position in Garmin by 4.4% during the first quarter. Caldwell Trust Co now owns 1,023 shares of the scientific and technical instruments company’s stock valued at $237,000 after purchasing an additional 43 shares during the last quarter. HHM Wealth Advisors LLC lifted its position in Garmin by 6.9% during the first quarter. HHM Wealth Advisors LLC now owns 698 shares of the scientific and technical instruments company’s stock valued at $162,000 after purchasing an additional 45 shares during the last quarter. Fulton Bank N.A. grew its stake in shares of Garmin by 2.9% in the 1st quarter. Fulton Bank N.A. now owns 1,672 shares of the scientific and technical instruments company’s stock worth $388,000 after buying an additional 47 shares in the last quarter. Finally, Daymark Wealth Partners LLC grew its stake in shares of Garmin by 0.7% in the 4th quarter. Daymark Wealth Partners LLC now owns 6,813 shares of the scientific and technical instruments company’s stock worth $1,382,000 after buying an additional 48 shares in the last quarter. 81.60% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Garmin

In other Garmin news, Director Joseph J. Hartnett sold 643 shares of the stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $263.57, for a total value of $169,475.51. Following the sale, the director owned 21,277 shares in the company, valued at $5,607,978.89. This trade represents a 2.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Douglas G. Boessen sold 2,000 shares of Garmin 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 sale, the chief financial officer owned 26,049 shares of the company’s stock, valued at approximately $6,197,317.59. This trade represents a 7.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 15.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on GRMN. Barclays decreased their target price on shares of Garmin from $240.00 to $238.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 30th. Zacks Research lowered Garmin from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 1st. Weiss Ratings reissued a “buy (b)” rating on shares of Garmin in a research note on Monday, June 8th. Wall Street Zen downgraded Garmin from a “buy” rating to a “hold” rating in a research report on Saturday, June 20th. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Garmin presently has an average rating of “Moderate Buy” and an average price target of $269.40.

Garmin Trading Up 1.0%

Shares of NYSE:GRMN opened at $240.03 on Friday. Garmin Ltd. has a 12 month low of $186.67 and a 12 month high of $273.32. The company has a market capitalization of $46.29 billion, a price-to-earnings ratio of 26.76, a PEG ratio of 2.81 and a beta of 0.90. The firm’s 50-day moving average is $239.48 and its 200 day moving average is $230.54.

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