CoreCap Advisors LLC Purchases 2,758 Shares of Garmin Ltd. $GRMN

CoreCap Advisors LLC lifted its position in shares of Garmin Ltd. (NYSE:GRMN) by 62.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,185 shares of the scientific and technical instruments company’s stock after purchasing an additional 2,758 shares during the period. CoreCap Advisors LLC’s holdings in Garmin were worth $1,769,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its position in Garmin by 6.9% during the second quarter. Vanguard Group Inc. now owns 19,698,329 shares of the scientific and technical instruments company’s stock worth $4,111,435,000 after buying an additional 1,273,163 shares during the last quarter. Artisan Partners Limited Partnership boosted its stake in shares of Garmin by 6.4% during the 2nd quarter. Artisan Partners Limited Partnership now owns 5,892,150 shares of the scientific and technical instruments company’s stock worth $1,229,810,000 after acquiring an additional 356,161 shares during the period. Geode Capital Management LLC boosted its stake in shares of Garmin by 1.3% during the 2nd quarter. Geode Capital Management LLC now owns 4,606,511 shares of the scientific and technical instruments company’s stock worth $958,405,000 after acquiring an additional 59,321 shares during the period. Norges Bank acquired a new position in shares of Garmin during the 2nd quarter worth approximately $410,304,000. Finally, Disciplined Growth Investors Inc. MN raised its stake in Garmin by 0.4% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 1,419,365 shares of the scientific and technical instruments company’s stock valued at $296,250,000 after acquiring an additional 5,213 shares during the period. 81.60% of the stock is currently owned by institutional investors and hedge funds.

Garmin Stock Up 1.3%

NYSE GRMN opened at $213.34 on Friday. The firm has a 50-day moving average price of $201.64 and a two-hundred day moving average price of $222.34. Garmin Ltd. has a 12-month low of $169.26 and a 12-month high of $261.69. The company has a market capitalization of $41.03 billion, a P/E ratio of 26.27, a P/E/G ratio of 2.23 and a beta of 1.00.

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

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In related news, CFO Douglas G. Boessen sold 2,485 shares of the business’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 of the company’s stock, valued at $5,964,214.16. The trade was a 7.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Clifton A. Pemble sold 10,431 shares of the company’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $206.23, for a total transaction of $2,151,185.13. Following the sale, the chief executive officer directly owned 135,180 shares of the company’s stock, valued at $27,878,171.40. This represents a 7.16% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 15.38% of the company’s stock.

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.