Commerzbank Aktiengesellschaft FI Takes $1.24 Million Position in Garmin Ltd. $GRMN

Key Points

• Commerzbank Aktiengesellschaft FI acquired 5,206 Garmin shares in the second quarter, valued at approximately $1.24 million. Institutional investors collectively own 81.6% of Garmin’s stock.
• Garmin reported stronger-than-expected quarterly results, with earnings of $2.81 per share versus the $2.30 consensus estimate and revenue of $2.02 billion, up 11.4% year over year.
• Garmin shares opened at $298.41, near their 52-week high of $314.28. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $310.17, while insiders have sold $2.48 million of stock over the past 90 days.

Commerzbank Aktiengesellschaft FI acquired a new position in shares of Garmin Ltd. (NYSE:GRMN - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 5,206 shares of the scientific and technical instruments company's stock, valued at approximately $1,237,000.

Several other institutional investors have also recently bought and sold shares of the company. GSA Capital Partners LLP bought a new stake in Garmin during the 4th quarter worth about $979,000. Arrowstreet Capital Limited Partnership grew its holdings in shares of Garmin by 121.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 107,929 shares of the scientific and technical instruments company's stock valued at $25,041,000 after acquiring an additional 59,229 shares in the last quarter. Plato Investment Management Ltd bought a new position in shares of Garmin in the 2nd quarter valued at about $1,447,000. Generali Asset Management SPA SGR increased its position in shares of 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 acquiring an additional 9,251 shares during the last quarter. Finally, Westerkirk Capital Inc. increased its position in shares of Garmin by 88.2% in the fourth quarter. Westerkirk Capital Inc. now owns 20,700 shares of the scientific and technical instruments company's stock valued at $4,199,000 after acquiring an additional 9,700 shares during the last quarter. Institutional investors own 81.60% of the company's stock.

Insiders Place Their Bets

In other Garmin 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 value of $169,475.51. Following the completion of the sale, the director owned 21,277 shares of the company's stock, valued at $5,607,978.89. The trade was a 2.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Joshua H. Maxfield sold 1,152 shares of the stock in a transaction that occurred 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 transaction, the vice president owned 15,042 shares in the company, valued at approximately $4,379,177.46. The trade was a 7.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 8,810 shares of company stock worth $2,478,157. 14.80% of the stock is currently owned by insiders.

Garmin Stock Performance

Shares of GRMN opened at $298.41 on Wednesday. The firm has a market cap of $57.55 billion, a P/E ratio of 30.76, a price-to-earnings-growth ratio of 3.47 and a beta of 0.87. Garmin Ltd. has a 52 week low of $186.67 and a 52 week high of $314.28. The firm's 50-day simple moving average is $259.71 and its 200 day simple moving average is $245.69.

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

Analyst Upgrades and Downgrades

Several research analysts recently commented on GRMN shares. UBS Group set a $370.00 price target on Garmin in a research report on Thursday, August 6th. Wall Street Zen cut Garmin from a "buy" rating to a "hold" rating in a research note on Saturday, June 20th. Weiss Ratings reissued a "buy (b)" rating on shares of Garmin in a report on Monday, June 8th. Morgan Stanley raised their target price on shares of Garmin from $249.00 to $289.00 and gave the company an "equal weight" rating in a research note on Thursday, July 30th. Finally, Tigress Financial restated a "strong-buy" rating on shares of Garmin in a report on Thursday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Garmin has an average rating of "Moderate Buy" and an average target price of $310.17.

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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source