Sanctuary Advisors LLC Has $4.20 Million Position in Garmin Ltd. $GRMN

Sanctuary Advisors LLC lifted its holdings in Garmin Ltd. (NYSE:GRMN) by 17.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 18,120 shares of the scientific and technical instruments company’s stock after purchasing an additional 2,661 shares during the quarter. Sanctuary Advisors LLC’s holdings in Garmin were worth $4,204,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of GRMN. State Street Corp raised its holdings in Garmin by 1.8% during the 3rd quarter. State Street Corp now owns 7,250,844 shares of the scientific and technical instruments company’s stock worth $1,785,304,000 after buying an additional 126,677 shares during the period. Norges Bank bought a new stake in shares of Garmin during the fourth quarter worth $395,234,000. Northern Trust Corp increased its position in shares of Garmin by 3.8% during the fourth quarter. Northern Trust Corp now owns 1,719,677 shares of the scientific and technical instruments company’s stock worth $348,836,000 after acquiring an additional 63,283 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Garmin by 6.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,591,369 shares of the scientific and technical instruments company’s stock worth $322,837,000 after acquiring an additional 96,850 shares during the period. Finally, Disciplined Growth Investors Inc. MN raised its holdings in shares of Garmin by 0.4% during the second quarter. Disciplined Growth Investors Inc. MN now owns 1,419,365 shares of the scientific and technical instruments company’s stock worth $296,250,000 after acquiring an additional 5,213 shares during the period. 81.60% of the stock is owned by institutional investors.

Garmin Stock Performance

Shares of GRMN stock opened at $249.86 on Monday. Garmin Ltd. has a 52-week low of $186.67 and a 52-week high of $273.32. The stock has a market cap of $48.19 billion, a price-to-earnings ratio of 27.85, a PEG ratio of 2.95 and a beta of 0.90. The firm’s 50-day moving average is $238.18 and its 200-day moving average is $233.65.

Garmin (NYSE:GRMN) last posted its earnings results on Wednesday, April 29th. The scientific and technical instruments company reported $2.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.84 by $0.24. Garmin had a net margin of 23.26% and a return on equity of 20.07%. The company had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter last year, the company posted $1.61 EPS. Garmin’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. Sell-side analysts predict that Garmin Ltd. will post 9.53 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on GRMN shares. Zacks Research downgraded Garmin from a “strong-buy” rating to a “hold” rating in a report on Friday, May 1st. Wall Street Zen cut Garmin from a “buy” rating to a “hold” rating in a research note on Saturday, June 20th. JPMorgan Chase & Co. raised their price target on shares of Garmin from $265.00 to $285.00 and gave the stock a “neutral” rating in a research note on Thursday, April 16th. Barclays decreased their target price on shares of Garmin from $240.00 to $238.00 and set an “equal weight” rating for the company in a research report on Thursday, April 30th. Finally, Tigress Financial lifted their price target on shares of Garmin from $320.00 to $325.00 and gave the company a “strong-buy” rating in a research note 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 given a Hold rating to the stock. According to data from MarketBeat.com, Garmin has an average rating of “Moderate Buy” and a consensus target price of $269.40.

Insider Activity at Garmin

In other news, Director Joseph J. Hartnett sold 643 shares of the stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $263.57, for a total transaction of $169,475.51. Following the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Douglas G. Boessen sold 2,000 shares of Garmin stock in a transaction that occurred 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 directly owned 26,049 shares of the company’s stock, valued at approximately $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. Company insiders own 14.80% of the company’s stock.

About Garmin

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.