Garmin Ltd. $GRMN Shares Acquired by Aptus Capital Advisors LLC

Key Points

• Aptus Capital Advisors LLC increased its stake in Garmin Ltd. by 56.5%, owning a total of 3,548 shares worth $770,000 as of its latest SEC filing.
• Garmin recently reported $2.17 earnings per share (EPS) for the last quarter, exceeding analysts' consensus estimates by $0.27, with revenues of $1.81 billion, marking a 20.4% year-over-year increase.
• The firm announced a quarterly dividend of $0.90 per share, with a dividend yield of 1.6% and a payout ratio of 44.39%.

Aptus Capital Advisors LLC boosted its stake in shares of Garmin Ltd. (NYSE:GRMN - Free Report) by 56.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,548 shares of the scientific and technical instruments company's stock after acquiring an additional 1,281 shares during the quarter. Aptus Capital Advisors LLC's holdings in Garmin were worth $770,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. TFC Financial Management Inc. lifted its position 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 acquiring an additional 147 shares during the period. Wayfinding Financial LLC purchased a new position in shares of Garmin during the 1st quarter worth approximately $34,000. Zions Bancorporation National Association UT purchased a new position in shares of Garmin during the 1st quarter worth approximately $38,000. Garde Capital Inc. purchased a new position in shares of Garmin during the 1st quarter worth approximately $40,000. Finally, Olde Wealth Management LLC purchased a new position in shares of Garmin during the 1st quarter worth approximately $43,000. 81.60% of the stock is owned by institutional investors and hedge funds.

Garmin Stock Up 2.7%

NYSE GRMN traded up $6.2060 during mid-day trading on Friday, hitting $235.7960. The stock had a trading volume of 498,805 shares, compared to its average volume of 881,230. Garmin Ltd. has a 52-week low of $160.94 and a 52-week high of $246.50. The company has a market cap of $45.39 billion, a price-to-earnings ratio of 29.07, a P/E/G ratio of 2.59 and a beta of 0.99. The company has a 50 day simple moving average of $220.61 and a 200 day simple moving average of $210.53.

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 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.27. Garmin had a return on equity of 20.00% and a net margin of 23.21%.The firm had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same period last year, the business posted $1.58 EPS. Garmin's quarterly revenue 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, equities analysts anticipate that Garmin Ltd. will post 7.8 earnings per share for the current fiscal year.

Garmin Announces Dividend

The company also recently disclosed 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 currently 44.39%.

Analyst Upgrades and Downgrades

GRMN has been the subject of a number of analyst reports. JPMorgan Chase & Co. increased their target price 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 target price (up from $152.00) on shares of Garmin in a research note on Wednesday, July 30th. Finally, Morgan Stanley increased their target price on Garmin from $172.00 to $186.00 and gave the stock an "underweight" rating in a research note on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Garmin has a consensus rating of "Hold" and an average target price of $222.00.

Insider Activity at Garmin

In related news, CEO Clifton A. Pemble sold 7,899 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $203.25, for a total value of $1,605,471.75. Following the completion of the transaction, the chief executive officer directly 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Douglas G. Boessen sold 1,859 shares of the firm's stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $215.00, for a total value of $399,685.00. Following the completion of the transaction, the chief financial officer directly owned 29,146 shares of the company's stock, valued at $6,266,390. The trade was a 6.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 19.54% of the company's stock.

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.