Paradigm Capital Management Inc. NY Invests $7.62 Million in Garmin Ltd. $GRMN

Paradigm Capital Management Inc. NY purchased a new position in shares of Garmin Ltd. (NYSE:GRMN - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 32,100 shares of the scientific and technical instruments company's stock, valued at approximately $7,625,000.

Other large investors also recently bought and sold shares of the company. Groupe la Francaise lifted its stake in Garmin by 346.4% in the 1st quarter. Groupe la Francaise now owns 125 shares of the scientific and technical instruments company's stock worth $29,000 after purchasing an additional 97 shares in the last quarter. Reflection Asset Management purchased a new stake in shares of Garmin in the fourth quarter valued at approximately $32,000. Archer Investment Corp purchased a new stake in shares of Garmin in the first quarter valued at approximately $37,000. Atlas Capital Advisors Inc. acquired a new stake in shares of Garmin in the fourth quarter valued at approximately $34,000. Finally, Cassaday & Co Wealth Management LLC purchased a new position in Garmin during the first quarter worth approximately $44,000. Hedge funds and other institutional investors own 81.60% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Barclays boosted their price objective on Garmin from $238.00 to $297.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 30th. Wall Street Zen lowered Garmin from a "buy" rating to a "hold" rating in a report on Saturday, June 20th. Tigress Financial reissued a "strong-buy" rating on shares of Garmin in a research report on Thursday, August 6th. Weiss Ratings reissued a "buy (b)" rating on shares of Garmin in a report on Monday, June 8th. Finally, Morgan Stanley raised their price objective on shares of Garmin from $249.00 to $289.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Garmin has an average rating of "Moderate Buy" and an average price target of $310.17.

Garmin Stock Down 1.2%

GRMN stock opened at $291.24 on Tuesday. Garmin Ltd. has a 52-week low of $186.67 and a 52-week high of $314.28. The stock has a market cap of $56.17 billion, a price-to-earnings ratio of 30.03, a price-to-earnings-growth ratio of 3.30 and a beta of 0.87. The business has a fifty day moving average of $264.26 and a two-hundred day moving average of $248.23.

Garmin (NYSE:GRMN - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The scientific and technical instruments company reported $2.81 EPS for the quarter, beating the consensus estimate of $2.30 by $0.51. The business had revenue of $2.02 billion for the quarter, compared to analyst estimates of $1.93 billion. Garmin had a return on equity of 20.95% and a net margin of 24.47%.The company's quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.17 EPS. Garmin has set its FY 2026 guidance at 10.000-10.000 EPS. As a group, sell-side analysts anticipate that Garmin Ltd. will post 10.08 EPS for the current year.

Insider Buying and Selling

In other Garmin news, CFO Douglas G. Boessen sold 2,000 shares of Garmin stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $237.91, for a total transaction of $475,820.00. Following the completion of the sale, the chief financial officer directly owned 26,049 shares in the company, valued at $6,197,317.59. This trade represents a 7.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Joshua H. Maxfield sold 1,152 shares of the business's stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $291.13, for a total transaction of $335,381.76. Following the completion of the sale, the vice president directly owned 15,042 shares in the company, valued at $4,379,177.46. This trade represents a 7.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 18,751 shares of company stock valued at $5,454,095 over the last three months. Company insiders own 14.80% of the company's stock.

Garmin Profile

Garmin Ltd. is a technology company best known for designing and manufacturing navigation, communication and information devices that leverage global positioning system (GPS) technology. The company serves a diverse set of markets including consumer fitness and wearables, automotive navigation, aviation avionics, marine electronics and outdoor handheld devices. Garmin's products combine hardware, mapping and software services to deliver location-aware solutions for personal, recreational and professional uses.

Garmin's product lineup includes wearable fitness and multisport watches (Forerunner, Fenix, Venu), cycling computers and accessories (Edge, Varia), handheld and handheld-mounted GPS devices for outdoor activities, automotive and portable navigation units, marine chartplotters and fishfinders, and certified avionics for fixed- and rotary-wing aircraft.

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