Garmin Ltd. $GRMN Shares Bought by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC lifted its position in shares of Garmin Ltd. (NYSE:GRMN) by 132.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,589 shares of the scientific and technical instruments company’s stock after acquiring an additional 3,182 shares during the period. Exchange Traded Concepts LLC’s holdings in Garmin were worth $1,376,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in GRMN. Quaker Wealth Management LLC increased its stake in Garmin by 200.0% during the second quarter. Quaker Wealth Management LLC now owns 132 shares of the scientific and technical instruments company’s stock valued at $28,000 after purchasing an additional 264 shares during the last quarter. Newbridge Financial Services Group Inc. lifted 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 worth $52,000 after acquiring an additional 123 shares during the last quarter. SOA Wealth Advisors LLC. grew its holdings in shares of Garmin by 27.5% during the second 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 last quarter. GFG Capital LLC acquired a new stake in shares of Garmin during the 2nd quarter worth approximately $67,000. Finally, Edmond DE Rothschild Holding S.A. bought a new stake in shares of Garmin in the 2nd quarter worth approximately $73,000. 81.60% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Garmin news, CEO Clifton A. Pemble sold 10,431 shares of the company’s stock in a transaction that occurred on Tuesday, December 16th. The stock was 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. This represents a 7.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Douglas G. Boessen sold 2,485 shares of Garmin stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $206.26, for a total value of $512,556.10. Following the transaction, the chief financial officer owned 28,916 shares in the company, valued at approximately $5,964,214.16. This trade represents a 7.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 15.38% of the company’s stock.

Garmin Stock Up 0.3%

GRMN stock opened at $205.64 on Friday. The company has a 50-day simple moving average of $208.21 and a 200 day simple moving average of $222.14. The company has a market capitalization of $39.55 billion, a P/E ratio of 25.32, a PEG ratio of 2.32 and a beta of 1.01. Garmin Ltd. has a fifty-two week low of $169.26 and a fifty-two week high of $261.69.

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

Analysts Set New Price Targets

A number of brokerages recently commented on GRMN. Barclays upped their price objective on Garmin from $167.00 to $208.00 and gave the stock an “underweight” rating in a research note on Thursday, October 30th. Morgan Stanley upped their price target on shares of Garmin from $193.00 to $195.00 and gave the stock an “underweight” rating in a research report on Thursday, October 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of Garmin in a research report on Wednesday, October 8th. Tigress Financial reissued a “strong-buy” rating on shares of Garmin in a research note on Friday, December 19th. Finally, Longbow Research upgraded shares of Garmin from a “neutral” rating to a “buy” rating and set a $250.00 price target on the stock in a research note on Wednesday, December 3rd. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $242.60.

Garmin Company 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.