Westfield Capital Management Co. LP Invests $68.11 Million in Garmin Ltd. $GRMN

by · The Cerbat Gem

Westfield Capital Management Co. LP purchased a new position in Garmin Ltd. (NYSE:GRMN – Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 335,744 shares of the scientific and technical instruments company’s stock, valued at approximately $68,106,000. Westfield Capital Management Co. LP owned approximately 0.17% of Garmin at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Daymark Wealth Partners LLC increased its position in shares of Garmin by 0.7% during the fourth quarter. Daymark Wealth Partners LLC now owns 6,813 shares of the scientific and technical instruments company’s stock valued at $1,382,000 after acquiring an additional 48 shares during the last quarter. S.A. Mason LLC increased its position in shares of Garmin by 2.4% during the fourth quarter. S.A. Mason LLC now owns 2,150 shares of the scientific and technical instruments company’s stock valued at $436,000 after acquiring an additional 50 shares during the last quarter. Quadrant Capital Group LLC increased its position in shares of Garmin by 1.0% during the third quarter. Quadrant Capital Group LLC now owns 4,917 shares of the scientific and technical instruments company’s stock valued at $1,211,000 after acquiring an additional 51 shares during the last quarter. Wealthcare Advisory Partners LLC grew its holdings in shares of Garmin by 0.7% in the third quarter. Wealthcare Advisory Partners LLC now owns 7,724 shares of the scientific and technical instruments company’s stock valued at $1,902,000 after purchasing an additional 53 shares in the last quarter. Finally, Enhancing Capital LLC grew its holdings in shares of Garmin by 0.8% in the third quarter. Enhancing Capital LLC now owns 6,898 shares of the scientific and technical instruments company’s stock valued at $1,698,000 after purchasing an additional 54 shares in the last quarter. 81.60% of the stock is owned by hedge funds and other institutional investors.

Garmin Stock Down 2.2%

Shares of Garmin stock opened at $236.62 on Friday. Garmin Ltd. has a 52-week low of $186.67 and a 52-week high of $273.32. The company has a 50 day moving average of $244.62 and a 200 day moving average of $225.18. The company has a market capitalization of $45.63 billion, a P/E ratio of 26.38, a P/E/G ratio of 2.86 and a beta of 0.91.

Garmin (NYSE:GRMN – Get Free Report) last issued its quarterly 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 net margin of 23.26% and a return on equity of 20.07%. The company had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter in the previous year, the firm earned $1.61 earnings per share. The firm’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, research analysts anticipate that Garmin Ltd. will post 9.53 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on GRMN. Tigress Financial lifted their price objective on shares of Garmin from $320.00 to $325.00 and gave the company a “strong-buy” rating in a report on Wednesday, May 20th. Morgan Stanley set a $249.00 price objective on shares of Garmin in a report on Thursday, April 30th. Wall Street Zen upgraded shares of Garmin from a “hold” rating to a “buy” rating in a report on Saturday. Zacks Research cut shares of Garmin from a “strong-buy” rating to a “hold” rating in a report on Friday, May 1st. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Garmin from $265.00 to $285.00 and gave the company a “neutral” rating in a report on Thursday, April 16th. One investment 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 company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $269.40.

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Garmin Company Profile

(Free Report)

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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