Garmin Ltd. $GRMN Stock: Robeco Institutional Asset Management B.V. Increases Stake

Robeco Institutional Asset Management B.V. raised its holdings in Garmin Ltd. (NYSE:GRMN) by 9.0% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 474,058 shares of the scientific and technical instruments company’s stock after acquiring an additional 39,077 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Garmin were worth $135,979,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Caldwell Trust Co increased its position in Garmin by 4.4% in the 1st quarter. Caldwell Trust Co now owns 1,023 shares of the scientific and technical instruments company’s stock worth $237,000 after buying an additional 43 shares during the period. Green Alpha Advisors LLC lifted its holdings in shares of Garmin by 0.7% during the third quarter. Green Alpha Advisors LLC now owns 6,324 shares of the scientific and technical instruments company’s stock worth $1,814,000 after buying an additional 43 shares during the last quarter. HHM Wealth Advisors LLC boosted its position in shares of Garmin by 6.9% in 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 acquiring an additional 45 shares during the period. Fulton Bank N.A. boosted its position in shares of Garmin by 2.9% in the first quarter. Fulton Bank N.A. now owns 1,672 shares of the scientific and technical instruments company’s stock valued at $388,000 after acquiring an additional 47 shares during the period. Finally, Frank Rimerman Advisors LLC boosted its position in shares of Garmin by 0.8% in the third quarter. Frank Rimerman Advisors LLC now owns 6,240 shares of the scientific and technical instruments company’s stock valued at $1,790,000 after acquiring an additional 49 shares during the period. Institutional investors and hedge funds own 81.60% of the company’s stock.

Key Stories Impacting Garmin

Here are the key news stories impacting Garmin this week:

• Positive Sentiment: Garmin introduced the premium Edge 1060 cycling computer with hands-free voice controls for workout data, navigation and messaging. The launch expands Garmin’s higher-end cycling ecosystem and could support product demand. New Garmin Edge 1060 cycling computer gives cyclists hands-free voice control
• Positive Sentiment: The company also unveiled the Edge Explore 3 and Edge Explore 3 Plus cycling computers, adding maps, ride data, alerts and onboard audio features aimed at recreational cyclists. Garmin Edge Explore 3 cycling computers
• Positive Sentiment: Garmin launched the Tacx Nēra indoor smart trainer, featuring multidirectional movement and power and cadence accuracy within 1%. The product broadens Garmin’s connected fitness offerings and strengthens its position in indoor cycling. Garmin unveils Tacx Nēra
• Neutral Sentiment: Garmin is scheduled to report quarterly earnings on Wednesday. Analysts are looking for approximately $2.73 in quarterly EPS and $10.08 for the full year, making the report a near-term volatility catalyst. Garmin set to release quarterly earnings
• Neutral Sentiment: A comparison with Daktronics characterized Garmin as a value-investing candidate, but the analysis does not represent a new earnings or guidance change. Zacks Research maintains a Hold rating, with full-year EPS projected at $10.08. DAKT or GRMN value comparison
• Negative Sentiment: Exchange-traded funds were reported as net sellers of Garmin on October 16, creating modest technical or flow-related pressure despite the stock’s broader upward momentum. ETFs are net sellers of Garmin

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Tigress Financial restated a “strong-buy” rating on shares of Garmin in a research note on Thursday, August 6th. UBS Group set a $370.00 target price on shares of Garmin in a research note on Thursday, August 6th. Arete Research initiated coverage on shares of Garmin in a report on Wednesday, October 14th. They issued a “buy” rating and a $335.00 price target for the company. Weiss Ratings reissued a “buy (b)” rating on shares of Garmin in a report on Friday, September 4th. Finally, KeyCorp restated a “sector weight” rating on shares of Garmin in a research report on Wednesday, September 2nd. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, Garmin currently has a consensus rating of “Moderate Buy” and a consensus price target of $313.71.

Insider Transactions at Garmin

In other Garmin news, CEO Clifton Pemble sold 4,029 shares of Garmin 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 sale, the chief executive officer owned 120,127 shares in the company, valued at $36,038,100. The trade was a 3.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Joshua H. Maxfield sold 1,152 shares of Garmin stock in a transaction on Friday, July 31st. The stock was sold at an average price of $291.13, for a total transaction of $335,381.76. Following the sale, the vice president owned 15,042 shares in the company, valued at $4,379,177.46. This represents a 7.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 16,108 shares of company stock valued at $4,808,799. Company insiders own 14.80% of the company’s stock.

Garmin Stock Up 0.4%

Garmin stock opened at $291.38 on Thursday. The business has a 50 day moving average price of $284.53 and a two-hundred day moving average price of $262.59. The stock has a market cap of $56.19 billion, a price-to-earnings ratio of 30.04, a price-to-earnings-growth ratio of 3.25 and a beta of 0.82. 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 Thursday, July 30th. The scientific and technical instruments company reported $2.81 EPS for the quarter, topping analysts’ consensus estimates of $2.30 by $0.51. Garmin had a return on equity of 20.95% and a net margin of 24.47%. The company had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $1.93 billion. During the same quarter last year, the company earned $2.17 EPS. The company’s quarterly revenue was up 11.4% on a year-over-year basis. On average, analysts expect that Garmin Ltd. will post 10.08 earnings per share for the current fiscal year.

Garmin Company Profile

Garmin Ltd. (NYSE: GRMN) designs and manufactures GPS-enabled technology and smart devices for fitness, outdoor recreation, aviation, marine, and automotive markets. Its product portfolio includes smartwatches, cycling computers, sports and activity trackers, satellite communication devices, navigation systems, and related sensors and accessories.

The company also develops aviation systems and avionics, marine chartplotters and sonar equipment, and navigation and infotainment solutions for vehicle manufacturers.