Totem Point Management LLC trimmed its position in Garmin Ltd. (NYSE:GRMN - Free Report) by 42.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,073 shares of the scientific and technical instruments company's stock after selling 7,440 shares during the period. Garmin accounts for 2.7% of Totem Point Management LLC's portfolio, making the stock its 11th biggest position. Totem Point Management LLC's holdings in Garmin were worth $2,187,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Principal Street Partners LLC boosted its position in shares of Garmin by 1.8% during the fourth quarter. Principal Street Partners LLC now owns 3,201 shares of the scientific and technical instruments company's stock valued at $660,000 after buying an additional 58 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its position in shares of Garmin by 2.7% during the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,251 shares of the scientific and technical instruments company's stock valued at $489,000 after buying an additional 59 shares during the last quarter. Harbour Investments Inc. boosted its position in shares of Garmin by 31.8% during the first quarter. Harbour Investments Inc. now owns 265 shares of the scientific and technical instruments company's stock valued at $58,000 after buying an additional 64 shares during the last quarter. Moody National Bank Trust Division boosted its position in shares of Garmin by 2.4% during the first quarter. Moody National Bank Trust Division now owns 3,015 shares of the scientific and technical instruments company's stock valued at $655,000 after buying an additional 72 shares during the last quarter. Finally, FSM Wealth Advisors LLC boosted its position in shares of Garmin by 5.1% during the first quarter. FSM Wealth Advisors LLC now owns 1,497 shares of the scientific and technical instruments company's stock valued at $325,000 after buying an additional 72 shares during the last quarter. 81.60% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
GRMN has been the topic of several research reports. JPMorgan Chase & Co. raised their target price on Garmin from $215.00 to $250.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. Morgan Stanley raised their target price on Garmin from $172.00 to $186.00 and gave the stock an "underweight" rating in a research report on Thursday, July 31st. Finally, Barclays reissued an "underweight" rating and issued a $167.00 target price (up from $152.00) on shares of Garmin in a research report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $222.00.
Get Our Latest Stock Report on GRMN
Insider Transactions at Garmin
In other news, CEO Clifton A. Pemble sold 7,899 shares of the firm's stock in a transaction dated 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 transaction, the chief executive officer owned 141,626 shares of the company's stock, valued at $28,785,484.50. This trade represents a 5.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Douglas G. Boessen sold 1,859 shares of the firm's stock in a transaction dated 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 transaction, the chief financial officer directly owned 29,146 shares in the company, valued at $6,266,390. This trade represents a 6.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,960 shares of company stock valued at $4,376,918 over the last quarter. 15.38% of the stock is currently owned by company insiders.
Garmin Stock Up 2.4%
NYSE GRMN opened at $241.07 on Friday. The stock's 50-day moving average price is $223.50 and its 200-day moving average price is $211.14. 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 $46.40 billion, a P/E ratio of 29.72, a price-to-earnings-growth ratio of 2.59 and a beta of 0.99.
Garmin (NYSE:GRMN - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The scientific and technical instruments company reported $2.17 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 firm had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter last year, the company earned $1.58 earnings per share. 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. Research analysts anticipate that Garmin Ltd. will post 7.8 EPS for the current year.
Garmin Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Monday, June 16th were paid a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 1.5%. Garmin's dividend payout ratio (DPR) is currently 44.39%.
About Garmin
(
Free Report)
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.
See Also
Want to see what other hedge funds are holding GRMN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Garmin Ltd. (NYSE:GRMN - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Garmin, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Garmin wasn't on the list.
While Garmin currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
