Westerkirk Capital Inc. Has $4.20 Million Holdings in Garmin Ltd. $GRMN

Key Points

• Westerkirk Capital increased its Garmin stake by 88.2% in the fourth quarter, ending with 20,700 shares valued at about $4.2 million.
• Garmin’s latest quarterly results beat expectations, with EPS of $2.08 versus $1.84 expected and revenue of $1.75 billion, up 14% year over year.
• Analysts remain generally constructive on the stock, with a Moderate Buy consensus and an average price target of $269.40, though recent ratings have been mixed.

Westerkirk Capital Inc. raised its holdings in shares of Garmin Ltd. (NYSE:GRMN - Free Report) by 88.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,700 shares of the scientific and technical instruments company's stock after buying an additional 9,700 shares during the quarter. Westerkirk Capital Inc.'s holdings in Garmin were worth $4,199,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of GRMN. Brighton Jones LLC lifted its holdings in shares of Garmin by 31.3% during the fourth quarter. Brighton Jones LLC now owns 1,943 shares of the scientific and technical instruments company's stock worth $401,000 after buying an additional 463 shares during the last quarter. NewEdge Advisors LLC lifted its holdings in shares of Garmin by 6.2% during the first quarter. NewEdge Advisors LLC now owns 5,885 shares of the scientific and technical instruments company's stock worth $1,278,000 after buying an additional 345 shares during the last quarter. Woodline Partners LP lifted its holdings in shares of Garmin by 40.6% during the first quarter. Woodline Partners LP now owns 13,017 shares of the scientific and technical instruments company's stock worth $2,826,000 after buying an additional 3,757 shares during the last quarter. Focus Partners Wealth lifted its holdings in shares of Garmin by 51.1% during the first quarter. Focus Partners Wealth now owns 6,811 shares of the scientific and technical instruments company's stock worth $1,479,000 after buying an additional 2,304 shares during the last quarter. Finally, Sivia Capital Partners LLC lifted its holdings in shares of Garmin by 17.0% during the second quarter. Sivia Capital Partners LLC now owns 1,662 shares of the scientific and technical instruments company's stock worth $347,000 after buying an additional 242 shares during the last quarter. 81.60% of the stock is currently owned by institutional investors and hedge funds.

Garmin Price Performance

Garmin stock opened at $235.36 on Tuesday. The stock has a fifty day moving average price of $244.61 and a two-hundred day moving average price of $225.75. 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 $45.39 billion, a P/E ratio of 26.24, a P/E/G ratio of 2.79 and a beta of 0.91.

Garmin (NYSE:GRMN - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The scientific and technical instruments company reported $2.08 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.72 billion. During the same period in the prior year, the company posted $1.61 earnings per share. The business'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. On average, equities research analysts predict that Garmin Ltd. will post 9.53 EPS for the current fiscal year.

Insider Transactions at Garmin

In other Garmin news, CFO Douglas G. Boessen sold 2,000 shares of the stock in a transaction 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 in the company, valued at $6,197,317.59. This represents a 7.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 19.54% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on GRMN. JPMorgan Chase & Co. upped their price target on Garmin from $265.00 to $285.00 and gave the stock a "neutral" rating in a report on Thursday, April 16th. Barclays cut their price target on Garmin from $240.00 to $238.00 and set an "equal weight" rating for the company in a report on Thursday, April 30th. Morgan Stanley set a $249.00 price target on Garmin in a report on Thursday, April 30th. Tigress Financial upped their target price on Garmin from $320.00 to $325.00 and gave the company a "strong-buy" rating in a research note on Wednesday, May 20th. Finally, Zacks Research lowered Garmin from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 1st. One research 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $269.40.

Garmin Company 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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