Landscape Capital Management L.L.C. Purchases 2,798 Shares of Garmin Ltd. $GRMN

Key Points

• Landscape Capital Management L.L.C. increased its stake in Garmin Ltd. by 15.3% in the first quarter, holding 21,074 shares valued at approximately $4.58 million.
• Garmin recently announced a quarterly dividend of $0.90 per share, with a 1.5% annual yield and a payout ratio of 44.39%.
• Garmin's Q2 earnings report exceeded expectations with an EPS of $2.17 and revenue of $1.81 billion, reflecting a 20.4% increase year-over-year.

Landscape Capital Management L.L.C. grew its position in Garmin Ltd. (NYSE:GRMN - Free Report) by 15.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,074 shares of the scientific and technical instruments company's stock after purchasing an additional 2,798 shares during the quarter. Landscape Capital Management L.L.C.'s holdings in Garmin were worth $4,576,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Groupe la Francaise acquired a new position in shares of Garmin in the first quarter valued at approximately $33,000. TFC Financial Management Inc. grew its position in shares of 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 purchasing an additional 147 shares during the last quarter. Wayfinding Financial LLC acquired a new position in shares of Garmin in the first quarter valued at approximately $34,000. Zions Bancorporation National Association UT acquired a new stake in Garmin during the first quarter worth approximately $38,000. Finally, Garde Capital Inc. acquired a new stake in Garmin during the first quarter worth approximately $40,000. Institutional investors and hedge funds own 81.60% of the company's stock.

Insider Transactions at Garmin

In other Garmin news, insider Cheng-Wei Wang sold 10,202 shares of Garmin stock in a transaction dated Wednesday, August 27th. The stock was 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. The trade was a 22.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Douglas G. Boessen sold 1,859 shares of Garmin stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $215.00, for a total value of $399,685.00. Following the transaction, 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,960 shares of company stock valued at $4,376,918. Corporate insiders own 15.38% of the company's stock.

Garmin Trading Up 0.4%

NYSE:GRMN traded up $0.96 during trading hours on Friday, hitting $242.01. 1,246,430 shares of the company were exchanged, compared to its average volume of 785,357. The stock has a market capitalization of $46.59 billion, a price-to-earnings ratio of 29.84, a price-to-earnings-growth ratio of 2.66 and a beta of 0.99. Garmin Ltd. has a one year low of $160.94 and a one year high of $246.50. The company has a fifty day simple moving average of $224.34 and a 200 day simple moving average of $211.36.

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 (EPS) for the quarter, topping 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 business had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.68 billion. During the same period last year, the company earned $1.58 EPS. Garmin'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. Equities research analysts predict that Garmin Ltd. will post 7.8 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. JPMorgan Chase & Co. increased their price target on Garmin from $215.00 to $250.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. Barclays reissued an "underweight" rating and set a $167.00 price target (up previously from $152.00) on shares of Garmin in a research report on Wednesday, July 30th. Finally, Morgan Stanley raised 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. One analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Garmin presently has a consensus rating of "Hold" and a consensus price target of $222.00.

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.