Focus Partners Advisor Solutions LLC Purchases 3,927 Shares of Garmin Ltd. $GRMN

Key Points

• Focus Partners Advisor Solutions LLC significantly increased its stake in Garmin Ltd. by 322.4% in the first quarter, now holding shares worth approximately $1.1 million.
• Institutions own 81.60% of Garmin's stock, with other hedge funds like Vanguard Group and Invesco also increasing their positions in the company.
• Garmin's recent earnings report showed $2.17 EPS, surpassing expectations, and the company reported a year-over-year revenue increase of 20.4%.

Focus Partners Advisor Solutions LLC grew its position in Garmin Ltd. (NYSE:GRMN - Free Report) by 322.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,145 shares of the scientific and technical instruments company's stock after buying an additional 3,927 shares during the quarter. Focus Partners Advisor Solutions LLC's holdings in Garmin were worth $1,117,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Groupe la Francaise purchased a new stake in Garmin in the 1st quarter worth about $33,000. TFC Financial Management Inc. grew its stake in Garmin by 1,633.3% during the 1st quarter. TFC Financial Management Inc. now owns 156 shares of the scientific and technical instruments company's stock worth $34,000 after buying an additional 147 shares during the last quarter. Wayfinding Financial LLC acquired a new position in Garmin in the 1st quarter worth about $34,000. Zions Bancorporation National Association UT acquired a new stake in shares of Garmin in the first quarter valued at approximately $38,000. Finally, Garde Capital Inc. acquired a new position in Garmin during the 1st quarter worth $40,000. Institutional investors own 81.60% of the company's stock.

Insiders Place Their Bets

In related news, insider Cheng-Wei Wang sold 10,202 shares of the company's stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $232.48, for a total transaction of $2,371,760.96. Following the completion of the transaction, the insider owned 36,092 shares in the company, valued at approximately $8,390,668.16. This represents a 22.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Clifton A. Pemble sold 7,899 shares of the business's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $203.25, for a total transaction of $1,605,471.75. Following the completion of the transaction, 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. Over the last quarter, insiders have sold 19,960 shares of company stock valued at $4,376,918. 19.54% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on GRMN. Barclays reiterated an "underweight" rating and issued a $167.00 target price (up previously from $152.00) on shares of Garmin in a report on Wednesday, July 30th. JPMorgan Chase & Co. boosted their price objective on shares of Garmin from $215.00 to $250.00 and gave the company a "neutral" rating in a research report on Thursday, July 17th. Finally, Morgan Stanley upped their price objective 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. 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 stock. According to data from MarketBeat, Garmin currently has a consensus rating of "Hold" and a consensus target price of $222.00.

Garmin Stock Performance

Shares of GRMN traded up $2.33 during trading hours on Monday, hitting $239.72. 476,195 shares of the stock were exchanged, compared to its average volume of 935,110. The stock's 50-day moving average price is $227.62 and its two-hundred day moving average price is $211.91. Garmin Ltd. has a 12-month low of $160.94 and a 12-month high of $246.50. The company has a market cap of $46.14 billion, a price-to-earnings ratio of 29.53, a price-to-earnings-growth ratio of 2.61 and a beta of 1.00.

Garmin (NYSE:GRMN - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The scientific and technical instruments company reported $2.17 earnings per share for the quarter, topping analysts' consensus estimates of $1.90 by $0.27. The company had revenue of $1.81 billion during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.58 earnings per share. Garmin has set its FY 2025 guidance at 8.000-8.000 EPS. On average, research analysts expect that Garmin Ltd. will post 7.8 earnings per share for the current year.

Garmin Company 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.