Fiera Capital Corp Has $5.99 Million Stock Holdings in Garmin Ltd. $GRMN

Key Points

• Fiera Capital Corp increased its Garmin stake by 26.4% in the fourth quarter, adding 6,173 shares to bring its total holdings to 29,550 shares worth about $5.99 million.
• Garmin reported stronger-than-expected quarterly results, posting EPS of $2.08 versus the $1.84 consensus and revenue of $1.75 billion, up 14% year over year.
• Insider selling and mixed analyst sentiment were also noted, including share sales by a director and the CFO, while Wall Street’s consensus rating remains “Moderate Buy” with an average price target of $269.40.

Fiera Capital Corp raised its stake in shares of Garmin Ltd. (NYSE:GRMN - Free Report) by 26.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 29,550 shares of the scientific and technical instruments company's stock after purchasing an additional 6,173 shares during the period. Fiera Capital Corp's holdings in Garmin were worth $5,994,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Garmin by 2.5% during the 3rd quarter. Vanguard Group Inc. now owns 20,197,564 shares of the scientific and technical instruments company's stock valued at $4,973,044,000 after purchasing an additional 499,235 shares during the last quarter. State Street Corp boosted its stake in Garmin by 1.8% during the 3rd quarter. State Street Corp now owns 7,250,844 shares of the scientific and technical instruments company's stock valued at $1,785,304,000 after purchasing an additional 126,677 shares during the last quarter. Norges Bank bought a new position in shares of Garmin during the 4th quarter worth approximately $395,234,000. Dimensional Fund Advisors LP lifted its position in shares of Garmin by 1.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,494,519 shares of the scientific and technical instruments company's stock worth $367,964,000 after buying an additional 16,622 shares in the last quarter. Finally, Disciplined Growth Investors Inc. MN lifted its position in shares of Garmin by 0.4% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 1,419,365 shares of the scientific and technical instruments company's stock worth $296,250,000 after buying an additional 5,213 shares in the last quarter. Institutional investors and hedge funds own 81.60% of the company's stock.

Insider Transactions at Garmin

In related news, 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 of the company's stock, valued at $5,607,978.89. This represents a 2.93% 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, CFO Douglas G. Boessen sold 2,000 shares of the 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 completion of the transaction, 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. 19.54% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Barclays reduced their price objective on shares of Garmin from $240.00 to $238.00 and set an "equal weight" rating for the company in a research note on Thursday, April 30th. JPMorgan Chase & Co. upped their target price on shares of Garmin from $265.00 to $285.00 and gave the stock a "neutral" rating in a research report on Thursday, April 16th. Morgan Stanley set a $249.00 target price on shares of Garmin in a research report on Thursday, April 30th. Tigress Financial upped their price target on shares of Garmin from $320.00 to $325.00 and gave the company a "strong-buy" rating in a research report on Wednesday, May 20th. Finally, Wall Street Zen upgraded shares of Garmin from a "hold" rating to a "buy" rating in a research report on Saturday. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Garmin presently has a consensus rating of "Moderate Buy" and an average price target of $269.40.

Garmin Trading Up 1.1%

Shares of NYSE:GRMN opened at $237.86 on Wednesday. The company has a market cap of $45.87 billion, a price-to-earnings ratio of 26.52, a price-to-earnings-growth ratio of 2.78 and a beta of 0.91. The company has a 50-day moving average price of $244.76 and a 200-day moving average price of $226.09. Garmin Ltd. has a 12 month low of $186.67 and a 12 month high of $273.32.

Garmin (NYSE:GRMN - Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The scientific and technical instruments company reported $2.08 earnings per share (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 during the quarter, compared to the consensus estimate of $1.72 billion. During the same period in the prior year, the firm earned $1.61 earnings per share. Garmin's revenue was up 14.0% on a year-over-year basis. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. As a group, research analysts forecast that Garmin Ltd. will post 9.53 EPS for the current fiscal year.

Garmin Profile

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.