Compound Planning Inc. bought a new position in shares of Garmin Ltd. (NYSE:GRMN - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 1,310 shares of the scientific and technical instruments company's stock, valued at approximately $284,000.
Several other institutional investors also recently made changes to their positions in GRMN. GAMMA Investing LLC boosted its position in shares of Garmin by 25,047.9% during the 1st quarter. GAMMA Investing LLC now owns 885,456 shares of the scientific and technical instruments company's stock worth $192,259,000 after purchasing an additional 881,935 shares in the last quarter. Congress Asset Management Co. boosted its position in shares of Garmin by 673.4% during the 1st quarter. Congress Asset Management Co. now owns 441,318 shares of the scientific and technical instruments company's stock worth $95,823,000 after purchasing an additional 384,258 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Garmin during the 1st quarter worth $78,900,000. Vanguard Group Inc. boosted its position in shares of Garmin by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 18,425,166 shares of the scientific and technical instruments company's stock worth $4,000,656,000 after purchasing an additional 357,458 shares in the last quarter. Finally, Northern Trust Corp boosted its position in shares of Garmin by 20.2% during the 4th quarter. Northern Trust Corp now owns 1,708,495 shares of the scientific and technical instruments company's stock worth $352,394,000 after purchasing an additional 286,765 shares in the last quarter. 81.60% of the stock is currently owned by hedge funds and other institutional investors.
Garmin Trading Up 1.3%
Shares of GRMN stock opened at $235.73 on Thursday. The firm has a 50-day moving average price of $222.64 and a 200 day moving average price of $210.97. Garmin Ltd. has a twelve month low of $160.94 and a twelve month high of $246.50. The company has a market capitalization of $45.38 billion, a price-to-earnings ratio of 29.07, a PEG ratio of 2.56 and a beta of 0.99.
Garmin (NYSE:GRMN - Get Free Report) last announced its earnings results on Wednesday, July 30th. The scientific and technical instruments company reported $2.17 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.27. Garmin had a net margin of 23.21% and a return on equity of 20.00%. The firm had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter in the previous year, the company posted $1.58 EPS. The firm's revenue for the quarter was up 20.4% on a year-over-year basis. Garmin has set its FY 2025 guidance at 8.000-8.000 EPS. As a group, research analysts predict that Garmin Ltd. will post 7.8 earnings per share for the current year.
Garmin Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 12th will be paid a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 1.5%. Garmin's payout ratio is 44.39%.
Wall Street Analyst Weigh In
Several equities research analysts have commented on GRMN shares. Barclays restated an "underweight" rating and set a $167.00 target price (up from $152.00) on shares of Garmin in a research report on Wednesday, July 30th. Morgan Stanley boosted their target price on shares of Garmin from $172.00 to $186.00 and gave the stock an "underweight" rating in a research report on Thursday, July 31st. Finally, JPMorgan Chase & Co. lifted 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. One 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's stock. According to MarketBeat, Garmin has a consensus rating of "Hold" and an average target price of $222.00.
Get Our Latest Stock Report on Garmin
Insider Activity
In other Garmin news, CFO Douglas G. Boessen sold 1,859 shares of Garmin stock in a transaction dated 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 owned 29,146 shares in the company, valued at $6,266,390. The trade was a 6.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Clifton A. Pemble sold 7,899 shares of Garmin stock in a transaction dated 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 $28,785,484.50. This trade represents a 5.28% decrease in their position. The disclosure for this sale can be found here. Insiders own 15.38% of the company's stock.
About Garmin
(
Free Report)
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.
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Want to see what other hedge funds are holding GRMN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Garmin Ltd. (NYSE:GRMN - Free Report).
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