6,126 Shares in Garmin Ltd. $GRMN Bought by Plato Investment Management Ltd

Key Points

• Plato Investment Management acquired 6,126 Garmin shares during the second quarter, worth approximately $1.45 million. Institutional investors collectively own 81.6% of the company.
• Analyst sentiment remains positive but mixed, with Garmin holding a consensus “Moderate Buy” rating and an average price target of $310.17.
• Garmin reported quarterly earnings of $2.81 per share, beating estimates by $0.51, while revenue rose 11.4% year over year to $2.02 billion. The stock opened at $307.70, near its 12-month high.

Plato Investment Management Ltd bought a new stake in Garmin Ltd. (NYSE:GRMN - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 6,126 shares of the scientific and technical instruments company's stock, valued at approximately $1,447,000.

A number of other large investors have also added to or reduced their stakes in the company. Groupe la Francaise boosted its holdings in shares of Garmin by 346.4% in the 1st quarter. Groupe la Francaise now owns 125 shares of the scientific and technical instruments company's stock valued at $29,000 after buying an additional 97 shares in the last quarter. Reflection Asset Management bought a new position in shares of Garmin during the 4th quarter worth approximately $32,000. Atlas Capital Advisors Inc. bought a new position in shares of Garmin during the 4th quarter worth approximately $34,000. Archer Investment Corp purchased a new stake in Garmin during the first quarter valued at approximately $37,000. Finally, Torren Management LLC purchased a new stake in Garmin during the fourth quarter valued at approximately $41,000. 81.60% of the stock is currently owned by institutional investors.

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Wall Street Analyst Weigh In

Several equities analysts have issued reports on GRMN shares. Wall Street Zen lowered shares of Garmin from a "buy" rating to a "hold" rating in a report on Saturday, June 20th. Barclays raised their price objective on Garmin from $238.00 to $297.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 30th. Zacks Research upgraded Garmin from a "hold" rating to a "strong-buy" rating in a research note on Friday, July 31st. UBS Group set a $370.00 target price on Garmin in a research report on Thursday, August 6th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Garmin in a research note on Monday, June 8th. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $310.17.

Insider Activity at Garmin

In other Garmin news, CEO Clifton A. Pemble sold 4,029 shares of the business's stock in a transaction dated Wednesday, July 29th. The stock was 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 approximately $36,038,100. The trade was a 3.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joseph J. Hartnett sold 643 shares of the stock in a transaction dated 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 transaction, the director directly owned 21,277 shares in the company, valued at $5,607,978.89. This represents a 2.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 8,810 shares of company stock worth $2,478,157 in the last quarter. 14.80% of the stock is owned by insiders.

Garmin Trading Down 0.8%

NYSE GRMN opened at $307.70 on Tuesday. The company has a fifty day simple moving average of $258.50 and a two-hundred day simple moving average of $245.03. The stock has a market cap of $59.34 billion, a P/E ratio of 31.72, a P/E/G ratio of 3.47 and a beta of 0.87. Garmin Ltd. has a 12-month low of $186.67 and a 12-month high of $314.28.

Garmin (NYSE:GRMN - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The scientific and technical instruments company reported $2.81 earnings per share for the quarter, beating analysts' consensus estimates of $2.30 by $0.51. Garmin had a net margin of 24.47% and a return on equity of 20.95%. The firm had revenue of $2.02 billion for the quarter, compared to analyst estimates of $1.93 billion. During the same period in the previous year, the company earned $2.17 earnings per share. The business's quarterly revenue was up 11.4% compared to the same quarter last year. Garmin has set its FY 2026 guidance at 10.000-10.000 EPS. As a group, sell-side analysts forecast that Garmin Ltd. will post 10.08 earnings per share for the current year.

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.

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