Amova Asset Management Americas Inc. Has $10.50 Million Stock Position in Garmin Ltd. $GRMN

Amova Asset Management Americas Inc. boosted its stake in Garmin Ltd. (NYSE:GRMN - Free Report) by 25.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 51,774 shares of the scientific and technical instruments company's stock after buying an additional 10,667 shares during the period. Amova Asset Management Americas Inc.'s holdings in Garmin were worth $10,502,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of GRMN. GraniteShares Advisors LLC acquired a new position in shares of Garmin during the 4th quarter worth approximately $41,000. Torren Management LLC acquired a new position in shares of Garmin during the 4th quarter worth approximately $41,000. Elyxium Wealth LLC acquired a new position in shares of Garmin during the 4th quarter worth approximately $60,000. State of Wyoming grew its position in shares of Garmin by 26.2% during the 4th quarter. State of Wyoming now owns 352 shares of the scientific and technical instruments company's stock worth $71,000 after purchasing an additional 73 shares in the last quarter. Finally, Camelot Portfolios LLC acquired a new position in shares of Garmin during the 4th quarter worth approximately $81,000. Institutional investors and hedge funds own 81.60% of the company's stock.

Insider Buying and Selling at Garmin

In other news, Director Joseph J. Hartnett sold 643 shares of the business's stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $263.57, for a total transaction of $169,475.51. Following the completion of the sale, the director directly owned 21,277 shares of the company's stock, valued at $5,607,978.89. The trade was a 2.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Douglas G. Boessen sold 2,000 shares of the business's stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $237.91, for a total transaction 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 19.54% of the company's stock.

Garmin Stock Performance

Shares of NYSE:GRMN opened at $237.86 on Wednesday. The firm has a market cap of $45.87 billion, a PE ratio of 26.52, a price-to-earnings-growth ratio of 2.78 and a beta of 0.91. The firm's fifty day moving average is $244.76 and its 200-day moving average is $226.09. Garmin Ltd. has a 52 week low of $186.67 and a 52 week high of $273.32.

Garmin (NYSE:GRMN - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The scientific and technical instruments company reported $2.08 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 for the quarter, compared to analyst estimates of $1.72 billion. During the same quarter in the previous year, the business earned $1.61 earnings per share. Garmin's 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 forecast that Garmin Ltd. will post 9.53 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on GRMN shares. Wall Street Zen upgraded shares of Garmin from a "hold" rating to a "buy" rating in a research report on Saturday. Morgan Stanley set a $249.00 price target on shares of Garmin in a research report on Thursday, April 30th. JPMorgan Chase & Co. upped their target price on Garmin from $265.00 to $285.00 and gave the stock a "neutral" rating in a research note on Thursday, April 16th. Tigress Financial upped their target price on Garmin from $320.00 to $325.00 and gave the stock a "strong-buy" rating in a research note on Wednesday, May 20th. Finally, Zacks Research cut Garmin from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Garmin currently has an average rating of "Moderate Buy" and a consensus target price of $269.40.

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.

Want to see what other hedge funds are holding GRMN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Garmin Ltd. (NYSE:GRMN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.