Garmin Ltd. $GRMN Shares Purchased by Advisors Asset Management Inc.

Key Points

• Advisors Asset Management Inc. increased its holdings in Garmin Ltd. by 35.9%, acquiring an additional 10,250 shares, bringing its total to 38,830 shares valued at approximately $8.43 million.
• Garmin's recent quarterly earnings revealed an EPS of $2.17, exceeding estimates, with revenue up 20.4% year-over-year, totaling $1.81 billion.
• Analysts have varied opinions on Garmin's stock, with price targets ranging from $167 to $250, reflecting a broader range of buy, hold, and sell ratings.

Advisors Asset Management Inc. boosted its stake in Garmin Ltd. (NYSE:GRMN - Free Report) by 35.9% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 38,830 shares of the scientific and technical instruments company's stock after buying an additional 10,250 shares during the quarter. Advisors Asset Management Inc.'s holdings in Garmin were worth $8,431,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Kestra Private Wealth Services LLC lifted its stake in Garmin by 18.7% in the 1st quarter. Kestra Private Wealth Services LLC now owns 8,559 shares of the scientific and technical instruments company's stock valued at $1,858,000 after buying an additional 1,347 shares in the last quarter. Concurrent Investment Advisors LLC lifted its stake in Garmin by 23.4% in the 1st quarter. Concurrent Investment Advisors LLC now owns 2,304 shares of the scientific and technical instruments company's stock valued at $500,000 after buying an additional 437 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Garmin by 46.7% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 89,715 shares of the scientific and technical instruments company's stock worth $19,480,000 after purchasing an additional 28,543 shares during the period. Golden State Wealth Management LLC lifted its stake in shares of Garmin by 255.2% during the 1st quarter. Golden State Wealth Management LLC now owns 444 shares of the scientific and technical instruments company's stock worth $96,000 after purchasing an additional 319 shares during the period. Finally, Federated Hermes Inc. lifted its stake in shares of Garmin by 12.9% during the 1st quarter. Federated Hermes Inc. now owns 675 shares of the scientific and technical instruments company's stock worth $147,000 after purchasing an additional 77 shares during the period. Hedge funds and other institutional investors own 81.60% of the company's stock.

Insider Transactions at Garmin

In related news, CFO Douglas G. Boessen sold 1,859 shares of the stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $215.00, for a total value of $399,685.00. Following the completion of the sale, the chief financial officer directly owned 29,146 shares in the company, valued at approximately $6,266,390. This represents a 6.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Clifton A. Pemble sold 7,899 shares of the stock in a transaction on Monday, June 16th. The shares were sold at an average price of $203.25, for a total value of $1,605,471.75. Following the completion of the sale, the chief executive officer owned 141,626 shares of the company's stock, valued at approximately $28,785,484.50. This represents a 5.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,960 shares of company stock worth $4,376,918 in the last ninety days. Insiders own 19.54% of the company's stock.

Wall Street Analysts Forecast Growth

GRMN has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. increased their price target on Garmin from $215.00 to $250.00 and gave the stock a "neutral" rating in a research note on Thursday, July 17th. Barclays reissued an "underweight" rating and set a $167.00 price target (up previously from $152.00) on shares of Garmin in a research note on Wednesday, July 30th. Finally, Morgan Stanley increased their price target on Garmin from $172.00 to $186.00 and gave the stock an "underweight" rating in a research note on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Garmin currently has a consensus rating of "Hold" and a consensus target price of $222.00.

Garmin Stock Down 0.4%

Shares of GRMN stock traded down $1.01 on Tuesday, reaching $238.51. 139,881 shares of the stock were exchanged, compared to its average volume of 933,196. The stock has a market cap of $45.91 billion, a P/E ratio of 29.41, a price-to-earnings-growth ratio of 2.61 and a beta of 1.00. The firm has a 50 day moving average of $228.24 and a two-hundred day moving average of $212.02. Garmin Ltd. has a 1-year low of $160.94 and a 1-year high of $246.50.

Garmin (NYSE:GRMN - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The scientific and technical instruments company reported $2.17 EPS for the quarter, topping analysts' consensus estimates of $1.90 by $0.27. The business had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.68 billion. Garmin had a return on equity of 20.00% and a net margin of 23.21%.The business's revenue for the quarter was up 20.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.58 EPS. Garmin has set its FY 2025 guidance at 8.000-8.000 EPS. On average, equities research analysts predict that Garmin Ltd. will post 7.8 EPS for the current fiscal year.

Garmin Profile

Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of wireless devices worldwide. Its Fitness segment offers running and multi-sport watches; cycling products; smartwatch devices; scales and monitors; and fitness accessories. This segment also provides Garmin Connect and Garmin Connect Mobile, which are web and mobile platforms where users can track and analyze their fitness, activities and workouts, and wellness data; and Connect IQ, an application development platform.