Swedbank AB Has $22.16 Million Stake in Garmin Ltd. $GRMN

Key Points

• Swedbank AB cut its Garmin stake by 14.3% in the first quarter, selling 16,000 shares and leaving it with 95,499 shares valued at about $22.16 million.
• Garmin insiders have also been trimming holdings. Director Joseph J. Hartnett and CFO Douglas G. Boessen both sold shares in June, with the CFO’s sale totaling about $475,820.
• Analyst sentiment remains mixed but generally positive. Garmin currently has a consensus rating of “Moderate Buy” with a target price of $269.40, while the company recently beat quarterly EPS and revenue expectations and raised FY2026 guidance.

Swedbank AB reduced its stake in Garmin Ltd. (NYSE:GRMN - Free Report) by 14.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 95,499 shares of the scientific and technical instruments company's stock after selling 16,000 shares during the quarter. Swedbank AB's holdings in Garmin were worth $22,157,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Unison Advisors LLC lifted its holdings in Garmin by 0.4% in the first quarter. Unison Advisors LLC now owns 28,461 shares of the scientific and technical instruments company's stock valued at $6,603,000 after buying an additional 120 shares during the period. Kiley Juergens Wealth Management LLC bought a new position in shares of Garmin in the 1st quarter worth about $257,000. PUREfi Wealth LLC acquired a new position in shares of Garmin in the 1st quarter valued at about $343,000. Ascentis Independent Advisors bought a new stake in shares of Garmin during the 1st quarter valued at about $49,000. Finally, V Square Quantitative Management LLC grew its stake in Garmin by 6.6% during the first quarter. V Square Quantitative Management LLC now owns 3,644 shares of the scientific and technical instruments company's stock worth $845,000 after purchasing an additional 225 shares during the period. 81.60% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Joseph J. Hartnett sold 643 shares of the company's stock in a transaction 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 $5,607,978.89. This represents a 2.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Douglas G. Boessen sold 2,000 shares of the stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $237.91, for a total transaction of $475,820.00. Following the completion of the sale, the chief financial officer owned 26,049 shares of the company's stock, valued at approximately $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. 15.38% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on GRMN shares. JPMorgan Chase & Co. boosted 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. Wall Street Zen downgraded shares of Garmin from a "buy" rating to a "hold" rating in a research report on Saturday, June 20th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Garmin in a research note on Monday, June 8th. Tigress Financial increased their price objective on shares of Garmin from $320.00 to $325.00 and gave the stock a "strong-buy" rating in a research report on Wednesday, May 20th. Finally, Barclays decreased their price objective on Garmin from $240.00 to $238.00 and set an "equal weight" rating for the company in a report on Thursday, April 30th. One equities research 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 company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $269.40.

Garmin Stock Performance

GRMN stock opened at $244.25 on Friday. The business has a 50-day simple moving average of $238.07 and a two-hundred day simple moving average of $231.97. The company has a market capitalization of $47.11 billion, a P/E ratio of 27.23, a price-to-earnings-growth ratio of 2.88 and a beta of 0.90. Garmin Ltd. has a 52-week low of $186.67 and a 52-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, beating the consensus estimate of $1.84 by $0.24. Garmin had a return on equity of 20.07% and a net margin of 23.26%.The company had revenue of $1.75 billion for the quarter, compared to analysts' expectations of $1.72 billion. During the same quarter in the previous year, the firm earned $1.61 earnings per share. Garmin's quarterly 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, sell-side analysts forecast that Garmin Ltd. will post 9.53 earnings per share 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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