Hantz Financial Services Inc. Decreases Stock Holdings in Garmin Ltd. $GRMN

Key Points

• Hantz Financial Services cut its Garmin stake by 22.4% in the fourth quarter, selling 6,987 shares and leaving it with 24,161 shares valued at about $4.9 million.
• Garmin reported strong quarterly results, with earnings of $2.08 per share beating estimates and revenue of $1.75 billion, up 14% year over year.
• Analyst sentiment is mixed but generally constructive: Garmin has a Moderate Buy consensus rating and an average price target of $269.40, while insiders also sold shares recently.

Hantz Financial Services Inc. decreased its holdings in shares of Garmin Ltd. (NYSE:GRMN - Free Report) by 22.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,161 shares of the scientific and technical instruments company's stock after selling 6,987 shares during the quarter. Hantz Financial Services Inc.'s holdings in Garmin were worth $4,901,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Penserra Capital Management LLC raised its stake in Garmin by 43.4% during the third quarter. Penserra Capital Management LLC now owns 22,496 shares of the scientific and technical instruments company's stock valued at $5,538,000 after purchasing an additional 6,806 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Garmin by 25.9% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,584 shares of the scientific and technical instruments company's stock valued at $5,314,000 after purchasing an additional 4,437 shares in the last quarter. Krilogy Financial LLC purchased a new stake in Garmin during the third quarter valued at $1,519,000. ARK Investment Management LLC raised its stake in Garmin by 10.9% during the third quarter. ARK Investment Management LLC now owns 28,925 shares of the scientific and technical instruments company's stock valued at $7,122,000 after purchasing an additional 2,852 shares in the last quarter. Finally, Diversified Trust Co. raised its stake in Garmin by 123.1% during the fourth quarter. Diversified Trust Co. now owns 8,248 shares of the scientific and technical instruments company's stock valued at $1,673,000 after purchasing an additional 4,551 shares in the last quarter. Hedge funds and other institutional investors own 81.60% of the company's stock.

Garmin Trading Up 0.1%

Shares of GRMN opened at $240.83 on Tuesday. Garmin Ltd. has a twelve month low of $186.67 and a twelve month high of $273.32. The company has a market cap of $46.45 billion, a P/E ratio of 26.85, a P/E/G ratio of 2.83 and a beta of 0.94. The company's fifty day simple moving average is $244.30 and its 200-day simple moving average is $222.95.

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 for the quarter, beating the consensus estimate of $1.84 by $0.24. The business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.72 billion. Garmin had a net margin of 23.26% and a return on equity of 20.07%. The business's revenue for the quarter was up 14.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.61 earnings per share. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. Analysts predict that Garmin Ltd. will post 9.57 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on GRMN shares. Morgan Stanley set a $249.00 target price on shares of Garmin in a research note on Thursday, April 30th. Barclays reduced their target price on shares of 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 increased their target price on shares of Garmin from $320.00 to $325.00 and gave the company a "strong-buy" rating in a research note on Wednesday, May 20th. JPMorgan Chase & Co. increased their target price on shares of Garmin from $265.00 to $285.00 and gave the company a "neutral" rating in a research note on Thursday, April 16th. Finally, Zacks Research downgraded shares of Garmin from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 1st. One 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 stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $269.40.

Insider Transactions at Garmin

In other news, COO Patrick Desbois sold 6,694 shares of the company's stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $251.65, for a total value of $1,684,545.10. Following the transaction, the chief operating officer directly owned 58,540 shares in the company, valued at approximately $14,731,591. This represents a 10.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Matthew Munn sold 5,275 shares of the company's stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $250.97, for a total transaction of $1,323,866.75. Following the completion of the transaction, the executive vice president owned 9,876 shares in the company, valued at approximately $2,478,579.72. The trade was a 34.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 39,175 shares of company stock valued at $9,852,187. Company insiders own 15.38% of the company's stock.

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.

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