Czech National Bank Grows Stock Holdings in Garmin Ltd. $GRMN

Czech National Bank lifted its position in shares of Garmin Ltd. (NYSE:GRMN) by 10.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 41,556 shares of the scientific and technical instruments company’s stock after purchasing an additional 3,905 shares during the period. Czech National Bank’s holdings in Garmin were worth $10,232,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of GRMN. Quaker Wealth Management LLC grew its position in shares of Garmin by 200.0% in the 2nd quarter. Quaker Wealth Management LLC now owns 132 shares of the scientific and technical instruments company’s stock worth $28,000 after buying an additional 264 shares during the last quarter. Groupe la Francaise purchased a new stake in Garmin in the first quarter worth $33,000. Newbridge Financial Services Group Inc. boosted its holdings in Garmin by 96.9% in the second quarter. Newbridge Financial Services Group Inc. now owns 250 shares of the scientific and technical instruments company’s stock valued at $52,000 after acquiring an additional 123 shares in the last quarter. SOA Wealth Advisors LLC. increased its position in Garmin by 27.5% during the 2nd quarter. SOA Wealth Advisors LLC. now owns 269 shares of the scientific and technical instruments company’s stock valued at $56,000 after purchasing an additional 58 shares during the period. Finally, GFG Capital LLC bought a new position in Garmin in the 2nd quarter worth $67,000. 81.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

GRMN has been the subject of several research analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Garmin in a research report on Wednesday, October 8th. Longbow Research upgraded shares of Garmin from a “neutral” rating to a “buy” rating and set a $250.00 price objective for the company in a report on Wednesday, December 3rd. Barclays upped their target price on Garmin from $167.00 to $208.00 and gave the stock an “underweight” rating in a report on Thursday, October 30th. Morgan Stanley raised their target price on Garmin from $193.00 to $195.00 and gave the company an “underweight” rating in a research note on Thursday, October 30th. Finally, Tigress Financial reiterated a “strong-buy” rating on shares of Garmin in a report on Friday. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $242.60.

Garmin Price Performance

Shares of Garmin stock opened at $201.41 on Friday. The stock has a market cap of $38.74 billion, a price-to-earnings ratio of 24.80, a PEG ratio of 2.29 and a beta of 1.01. Garmin Ltd. has a 1 year low of $169.26 and a 1 year high of $261.69. The firm’s 50-day moving average is $212.64 and its 200 day moving average is $222.18.

Garmin (NYSE:GRMN) last announced its quarterly earnings data on Wednesday, October 29th. The scientific and technical instruments company reported $1.99 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.99. Garmin had a net margin of 22.63% and a return on equity of 19.42%. The company had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.78 billion. During the same period in the previous year, the business earned $1.99 EPS. The firm’s revenue for the quarter was up 11.7% on a year-over-year basis. Garmin has set its FY 2025 guidance at 8.150-8.150 EPS. On average, equities analysts expect that Garmin Ltd. will post 7.8 EPS for the current fiscal year.

Insider Transactions at Garmin

In other news, CEO Clifton A. Pemble sold 10,431 shares of Garmin stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $206.23, for a total value of $2,151,185.13. Following the completion of the sale, the chief executive officer directly owned 135,180 shares in the company, valued at $27,878,171.40. The trade was a 7.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Douglas G. Boessen sold 2,485 shares of the firm’s stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $206.26, for a total transaction of $512,556.10. Following the completion of the sale, the chief financial officer owned 28,916 shares in the company, valued at $5,964,214.16. This represents a 7.91% decrease in their position. The SEC filing for this sale provides additional information. 15.38% of the stock is currently owned by insiders.

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.