CW Advisors LLC Purchases 45,222 Shares of Garmin Ltd. $GRMN

Key Points

• CW Advisors LLC significantly increased its stake in Garmin Ltd. by 1,341.9% during the first quarter, bringing its total to 48,592 shares valued at approximately $10.6 million.
• Garmin reported a quarterly EPS of $2.17, exceeding estimates and marking a 20.4% year-over-year revenue increase to $1.81 billion.
• The company declared a quarterly dividend of $0.90, yielding 1.6% annually, with a payout ratio of 44.39%.

CW Advisors LLC increased its position in shares of Garmin Ltd. (NYSE:GRMN - Free Report) by 1,341.9% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 48,592 shares of the scientific and technical instruments company's stock after acquiring an additional 45,222 shares during the period. CW Advisors LLC's holdings in Garmin were worth $10,551,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. TFC Financial Management Inc. grew its holdings in shares of Garmin by 1,633.3% during the first quarter. TFC Financial Management Inc. now owns 156 shares of the scientific and technical instruments company's stock worth $34,000 after purchasing an additional 147 shares during the last quarter. Wayfinding Financial LLC acquired a new stake in Garmin during the 1st quarter worth approximately $34,000. Zions Bancorporation National Association UT bought a new stake in Garmin during the 1st quarter worth approximately $38,000. Garde Capital Inc. acquired a new position in Garmin in the 1st quarter valued at approximately $40,000. Finally, Olde Wealth Management LLC bought a new position in shares of Garmin during the first quarter valued at $43,000. 81.60% of the stock is currently owned by institutional investors.

Garmin Stock Up 2.7%

Garmin stock traded up $6.2060 during trading hours on Friday, reaching $235.7960. 498,805 shares of the company's stock were exchanged, compared to its average volume of 881,230. The firm's 50 day simple moving average is $220.61 and its 200 day simple moving average is $210.53. Garmin Ltd. has a twelve month low of $160.94 and a twelve month high of $246.50. The firm has a market capitalization of $45.39 billion, a PE ratio of 29.07, a PEG ratio of 2.59 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 EPS 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 company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same quarter in the prior year, the company earned $1.58 EPS. The firm's revenue for the quarter was up 20.4% compared to the same quarter last year. Garmin has set its FY 2025 guidance at 8.000-8.000 EPS. Analysts anticipate that Garmin Ltd. will post 7.8 EPS for the current year.

Garmin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 12th will be given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 1.5%. Garmin's dividend payout ratio (DPR) is 44.39%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on GRMN shares. Barclays reissued an "underweight" rating and issued a $167.00 price objective (up previously from $152.00) on shares of Garmin in a research note on Wednesday, July 30th. JPMorgan Chase & Co. lifted their target price on Garmin from $215.00 to $250.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Finally, Morgan Stanley increased their price target on Garmin from $172.00 to $186.00 and gave the company 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 assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $222.00.

Insider Activity at Garmin

In other Garmin news, CEO Clifton A. Pemble sold 7,899 shares of the firm's 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 directly owned 141,626 shares in the company, valued at approximately $28,785,484.50. This trade represents a 5.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Douglas G. Boessen sold 1,859 shares of Garmin stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $215.00, for a total transaction of $399,685.00. Following the completion of the sale, the chief financial officer directly owned 29,146 shares of the company's stock, valued at approximately $6,266,390. This trade represents 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.

About Garmin

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.