Kaufman Rossin Wealth LLC Makes New $420,000 Investment in Garmin Ltd. $GRMN

Key Points

• Kaufman Rossin Wealth LLC acquired a new stake in Garmin Ltd., purchasing 1,936 shares valued at approximately $420,000.
• Garmin's recent quarterly earnings report showed earnings per share (EPS) of $2.17, beating estimates and indicating a revenue increase of 20.4% year-over-year.
• The company also declared a quarterly dividend of $0.90, reflecting an annualized dividend yield of 1.6%.

Kaufman Rossin Wealth LLC acquired a new stake in Garmin Ltd. (NYSE:GRMN - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,936 shares of the scientific and technical instruments company's stock, valued at approximately $420,000.

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

Analyst Upgrades and Downgrades

Several research firms have recently commented on GRMN. Barclays reaffirmed an "underweight" rating and set a $167.00 target price (up from $152.00) on shares of Garmin in a report on Wednesday, July 30th. Morgan Stanley upped their target price on Garmin from $172.00 to $186.00 and gave the company an "underweight" rating in a report on Thursday, July 31st. Finally, JPMorgan Chase & Co. upped their target price on Garmin from $215.00 to $250.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. 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. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $222.00.

Garmin Price Performance

GRMN stock traded up $6.2060 on Friday, reaching $235.7960. The company's stock had a trading volume of 498,805 shares, compared to its average volume of 886,126. Garmin Ltd. has a 52 week low of $160.94 and a 52 week high of $246.50. The company has a market capitalization of $45.39 billion, a P/E ratio of 29.07, a price-to-earnings-growth ratio of 2.59 and a beta of 0.99. The firm has a fifty day moving average of $220.61 and a two-hundred day moving average of $210.60.

Garmin (NYSE:GRMN - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The scientific and technical instruments company reported $2.17 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.90 by $0.27. Garmin had a return on equity of 20.00% and a net margin of 23.21%.The business had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.68 billion. During the same period in the prior year, the company posted $1.58 EPS. The business'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. As a group, equities analysts expect that Garmin Ltd. will post 7.8 EPS for the current fiscal year.

Garmin Announces Dividend

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

Insider Buying and Selling

In related news, CEO Clifton A. Pemble sold 7,899 shares of the 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 represents a 5.28% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Douglas G. Boessen sold 1,859 shares of the company's stock in a transaction that occurred 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 owned 29,146 shares of the company's stock, valued at $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. Corporate insiders own 15.38% 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.