First Trust Advisors LP Has $38.61 Million Stock Holdings in Garmin Ltd. $GRMN

First Trust Advisors LP lessened its stake in Garmin Ltd. (NYSE:GRMN) by 14.8% during the 1st quarter, Holdings Channel reports. The institutional investor owned 166,407 shares of the scientific and technical instruments company’s stock after selling 28,800 shares during the quarter. First Trust Advisors LP’s holdings in Garmin were worth $38,608,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of GRMN. GSA Capital Partners LLP acquired a new position in shares of Garmin in the fourth quarter worth $979,000. DB Fitzpatrick & Co Inc acquired a new stake in Garmin during the fourth quarter valued at $1,439,000. Commerzbank Aktiengesellschaft FI grew its stake 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 valued at $1,322,000 after purchasing an additional 4,814 shares in the last quarter. Generali Asset Management SPA SGR grew its stake in Garmin by 8,727.4% in the fourth quarter. Generali Asset Management SPA SGR now owns 9,357 shares of the scientific and technical instruments company’s stock valued at $1,898,000 after purchasing an additional 9,251 shares in the last quarter. Finally, Westerkirk Capital Inc. increased its position in Garmin by 88.2% in the 4th quarter. Westerkirk Capital Inc. now owns 20,700 shares of the scientific and technical instruments company’s stock worth $4,199,000 after purchasing an additional 9,700 shares during the last quarter. Institutional investors and hedge funds own 81.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Tigress Financial raised their price target on Garmin from $320.00 to $325.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, May 20th. JPMorgan Chase & Co. increased their price objective on Garmin from $265.00 to $285.00 and gave the stock a “neutral” rating in a report on Thursday, April 16th. Wall Street Zen lowered shares of Garmin from a “buy” rating to a “hold” rating in a research report on Saturday, June 20th. Weiss Ratings reiterated a “buy (b)” rating on shares of Garmin in a research note on Monday, June 8th. Finally, 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. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $269.40.

Garmin Trading Down 0.3%

NYSE GRMN opened at $242.39 on Tuesday. The company has a fifty day simple moving average of $239.13 and a 200 day simple moving average of $235.21. The company has a market cap of $46.75 billion, a P/E ratio of 27.02, a P/E/G ratio of 2.87 and a beta of 0.90. Garmin Ltd. has a 1 year low of $186.67 and a 1 year high of $273.32.

Garmin (NYSE:GRMN) last announced its earnings results on Wednesday, April 29th. The scientific and technical instruments company reported $2.08 EPS for the quarter, topping the consensus estimate of $1.84 by $0.24. The firm had revenue of $1.75 billion for 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 business’s quarterly revenue was up 14.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.61 EPS. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. Equities research analysts forecast that Garmin Ltd. will post 9.53 EPS for the current fiscal year.

Insider Activity

In other news, Director Joseph J. Hartnett sold 643 shares of the firm’s 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 sale, the director directly owned 21,277 shares of the company’s stock, 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 SEC, which can be accessed through this hyperlink. Also, CFO Douglas G. Boessen sold 2,000 shares of Garmin 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 completion of the transaction, the chief financial officer owned 26,049 shares in the company, valued at $6,197,317.59. The trade was a 7.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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.