2,450 Shares in Garmin Ltd. $GRMN Bought by Clark Asset Management LLC

Clark Asset Management LLC bought a new stake in Garmin Ltd. (NYSE:GRMN) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,450 shares of the scientific and technical instruments company’s stock, valued at approximately $603,000.

Several other institutional investors also recently modified their holdings of the stock. Quaker Wealth Management LLC increased its stake 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 valued at $28,000 after acquiring an additional 264 shares during the last quarter. Newbridge Financial Services Group Inc. increased its position in shares of Garmin by 96.9% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 250 shares of the scientific and technical instruments company’s stock valued at $52,000 after buying an additional 123 shares in the last quarter. SOA Wealth Advisors LLC. raised its stake 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 worth $56,000 after buying an additional 58 shares during the period. Blue Trust Inc. lifted its holdings in Garmin by 30.6% during the third quarter. Blue Trust Inc. now owns 235 shares of the scientific and technical instruments company’s stock worth $58,000 after acquiring an additional 55 shares in the last quarter. Finally, GFG Capital LLC bought a new position in Garmin during the second quarter worth about $67,000. 81.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Douglas G. Boessen sold 2,485 shares of the firm’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $206.26, for a total value of $512,556.10. Following the completion of the transaction, the chief financial officer owned 28,916 shares in the company, valued at $5,964,214.16. This trade represents a 7.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Clifton A. Pemble sold 10,431 shares of Garmin stock in a transaction dated 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 approximately $27,878,171.40. This represents a 7.16% decrease in their position. The SEC filing for this sale provides additional information. 19.54% of the stock is owned by company insiders.

Garmin Stock Up 0.0%

Shares of GRMN opened at $205.55 on Tuesday. Garmin Ltd. has a twelve month low of $169.26 and a twelve month high of $261.69. The stock has a market capitalization of $39.54 billion, a P/E ratio of 25.31, a P/E/G ratio of 2.32 and a beta of 1.01. The company has a 50 day moving average of $207.34 and a 200-day moving average of $222.29.

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

Analyst Ratings Changes

A number of equities research analysts have recently commented on GRMN shares. Tigress Financial reaffirmed a “strong-buy” rating on shares of Garmin in a research report on Friday, December 19th. Barclays raised their target price on shares of Garmin from $167.00 to $208.00 and gave the stock an “underweight” rating in a report on Thursday, October 30th. Longbow Research upgraded shares of Garmin from a “neutral” rating to a “buy” rating and set a $250.00 price target for the company in a report on Wednesday, December 3rd. Morgan Stanley increased their price objective 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. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Garmin in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Garmin currently 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.