Hsbc Holdings PLC Has $14.52 Million Stock Holdings in Garmin Ltd. $GRMN

Key Points

• HSBC Holdings PLC cut its Garmin stake by 25.3% in the fourth quarter, selling 24,120 shares and ending with 71,272 shares worth about $14.52 million.
• Garmin remains heavily owned by institutions, with 81.60% of the stock held by institutional investors and hedge funds. Several large funds, including State Street, Norges Bank, and Northern Trust, have recently increased or initiated positions.
• Garmin beat Wall Street’s latest quarterly expectations, reporting EPS of $2.08 on revenue of $1.75 billion, while analysts currently rate the stock a Moderate Buy with a consensus price target of $269.40.

Hsbc Holdings PLC decreased its position in Garmin Ltd. (NYSE:GRMN - Free Report) by 25.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 71,272 shares of the scientific and technical instruments company's stock after selling 24,120 shares during the period. Hsbc Holdings PLC's holdings in Garmin were worth $14,521,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GRMN. State Street Corp grew 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 during the period. Norges Bank acquired a new position in Garmin in the fourth quarter valued at approximately $395,234,000. Northern Trust Corp boosted its stake in 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 during the last quarter. Dimensional Fund Advisors LP grew its holdings in Garmin by 6.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,591,369 shares of the scientific and technical instruments company's stock worth $322,837,000 after acquiring an additional 96,850 shares during the period. Finally, Disciplined Growth Investors Inc. MN raised 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 valued at $296,250,000 after acquiring an additional 5,213 shares during the last quarter. 81.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on GRMN shares. Zacks Research lowered Garmin from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 1st. Morgan Stanley set a $249.00 price objective on Garmin in a report on Thursday, April 30th. Weiss Ratings restated a "buy (b)" rating on shares of Garmin in a report on Monday, June 8th. Tigress Financial boosted their target price on Garmin from $320.00 to $325.00 and gave the stock a "strong-buy" rating in a research report on Wednesday, May 20th. Finally, JPMorgan Chase & Co. upped their price target on Garmin from $265.00 to $285.00 and gave the company a "neutral" rating in a research note on Thursday, April 16th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, Garmin presently has an average rating of "Moderate Buy" and a consensus target price of $269.40.

Garmin Stock Performance

Shares of GRMN opened at $235.32 on Friday. The stock has a 50 day simple moving average of $242.45 and a 200 day simple moving average of $229.49. Garmin Ltd. has a 52-week low of $186.67 and a 52-week high of $273.32. The firm has a market capitalization of $45.38 billion, a PE ratio of 26.23, a P/E/G ratio of 2.84 and a beta of 0.91.

Garmin (NYSE:GRMN - Get Free Report) last posted 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. Garmin had a return on equity of 20.07% and a net margin of 23.26%.The business had revenue of $1.75 billion during the quarter, compared to analysts' expectations of $1.72 billion. During the same period in the prior year, the business earned $1.61 EPS. Garmin's revenue for the quarter was up 14.0% compared to the same quarter last year. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. Equities research analysts predict that Garmin Ltd. will post 9.53 EPS for the current fiscal year.

Insider Buying and Selling at Garmin

In related news, CFO Douglas G. Boessen sold 2,000 shares of the firm's stock in a transaction on Friday, June 5th. The shares were 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 in the company, valued at $6,197,317.59. This trade represents a 7.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Joseph J. Hartnett sold 643 shares of the company's stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $263.57, for a total transaction of $169,475.51. Following the completion of the transaction, the director directly owned 21,277 shares of the company's stock, valued at approximately $5,607,978.89. The trade was a 2.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 15.38% of the stock is owned by corporate insiders.

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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