Garmin Ltd. $GRMN Stake Raised by Corient Private Wealth LLC

Key Points

• Corient Private Wealth LLC increased its Garmin stake by 38.8% in the fourth quarter, adding 7,952 shares and bringing its total holding to 28,430 shares worth about $5.77 million.
• Garmin continues to attract significant institutional interest, with institutions owning 81.6% of the stock; several large firms, including State Street, Norges Bank, and Northern Trust, also reported sizable positions.
• Analyst sentiment is mixed but generally constructive: Garmin has a Moderate Buy consensus rating with a $269.40 target price, while the stock recently traded around $235.32 after the company beat quarterly EPS and revenue estimates.

Corient Private Wealth LLC lifted its holdings in shares of Garmin Ltd. (NYSE:GRMN - Free Report) by 38.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,430 shares of the scientific and technical instruments company's stock after buying an additional 7,952 shares during the period. Corient Private Wealth LLC's holdings in Garmin were worth $5,768,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. State Street Corp raised its position in shares of 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 worth $1,785,304,000 after buying an additional 126,677 shares in the last quarter. Norges Bank bought a new position in shares of Garmin in the fourth quarter valued at approximately $395,234,000. Northern Trust Corp boosted its holdings in shares of Garmin by 3.8% in the fourth quarter. Northern Trust Corp now owns 1,719,677 shares of the scientific and technical instruments company's stock valued at $348,836,000 after acquiring an additional 63,283 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Garmin by 6.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,591,369 shares of the scientific and technical instruments company's stock valued at $322,837,000 after acquiring an additional 96,850 shares during the period. Finally, Disciplined Growth Investors Inc. MN increased its stake in shares of Garmin by 0.4% during the second quarter. Disciplined Growth Investors Inc. MN now owns 1,419,365 shares of the scientific and technical instruments company's stock valued at $296,250,000 after acquiring an additional 5,213 shares during the period. 81.60% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on GRMN shares. Zacks Research downgraded Garmin from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 1st. JPMorgan Chase & Co. lifted their price target on Garmin from $265.00 to $285.00 and gave the company a "neutral" rating in a research report on Thursday, April 16th. Barclays dropped their price objective on Garmin from $240.00 to $238.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 30th. Tigress Financial upped their price objective on Garmin from $320.00 to $325.00 and gave the company a "strong-buy" rating in a report on Wednesday, May 20th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Garmin in a report on Monday, June 8th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $269.40.

Insider Activity

In related news, Director Joseph J. Hartnett sold 643 shares of the company's stock in a transaction that occurred on 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 in the company, valued at approximately $5,607,978.89. This represents a 2.93% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Douglas G. Boessen sold 2,000 shares of the firm's stock in a transaction that occurred on 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 $6,197,317.59. This represents a 7.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 15.38% of the company's stock.

Garmin Stock Down 2.0%

GRMN opened at $235.32 on Friday. The firm has a market cap of $45.38 billion, a PE ratio of 26.23, a P/E/G ratio of 2.84 and a beta of 0.91. The business has a fifty day simple moving average of $242.45 and a 200-day simple moving average of $229.49. Garmin Ltd. has a fifty-two week low of $186.67 and a fifty-two week high of $273.32.

Garmin (NYSE:GRMN - Get Free Report) last announced its 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. The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.72 billion. Garmin had a return on equity of 20.07% and a net margin of 23.26%.Garmin's revenue for the quarter was up 14.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.61 earnings per share. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. On average, equities research analysts anticipate that Garmin Ltd. will post 9.53 EPS for the current fiscal 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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