Inscription Capital LLC Increases Stock Holdings in Garmin Ltd. $GRMN

Inscription Capital LLC increased its stake in shares of Garmin Ltd. (NYSE:GRMN) by 238.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 4,014 shares of the scientific and technical instruments company’s stock after purchasing an additional 2,827 shares during the quarter. Inscription Capital LLC’s holdings in Garmin were worth $988,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Andra AP fonden grew its holdings in Garmin by 87.2% during the 2nd quarter. Andra AP fonden now owns 67,000 shares of the scientific and technical instruments company’s stock worth $13,984,000 after acquiring an additional 31,200 shares in the last quarter. First Horizon Advisors Inc. raised its holdings in shares of Garmin by 4.2% in the 2nd quarter. First Horizon Advisors Inc. now owns 121,552 shares of the scientific and technical instruments company’s stock valued at $25,370,000 after purchasing an additional 4,943 shares in the last quarter. EFG Asset Management Americas Corp. lifted its position in shares of Garmin by 34.1% in the 2nd quarter. EFG Asset Management Americas Corp. now owns 10,455 shares of the scientific and technical instruments company’s stock worth $2,182,000 after purchasing an additional 2,659 shares during the period. Vanguard Group Inc. boosted its stake in shares of 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 valued at $4,111,435,000 after purchasing an additional 1,273,163 shares in the last quarter. Finally, First Horizon Corp purchased a new position in Garmin during the third quarter valued at approximately $7,834,000. Hedge funds and other institutional investors own 81.60% of the company’s stock.

Insider Buying and Selling at Garmin

In related news, CEO Clifton A. Pemble sold 10,431 shares of the company’s stock in a transaction 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 transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Patrick Desbois sold 3,678 shares of the firm’s stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $210.40, for a total value of $773,851.20. Following the completion of the transaction, the chief operating officer owned 61,798 shares of the company’s stock, valued at $13,002,299.20. This trade represents a 5.62% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 16,594 shares of company stock worth $3,437,592. 19.54% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on GRMN shares. Morgan Stanley upped their target price on Garmin from $193.00 to $195.00 and gave the stock an “underweight” rating in a report on Thursday, October 30th. Longbow Research upgraded Garmin from a “neutral” rating to a “buy” rating and set a $250.00 price objective for the company in a research note on Wednesday, December 3rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Garmin in a research report on Wednesday, October 8th. Tigress Financial reiterated a “strong-buy” rating on shares of Garmin in a report on Friday, December 19th. Finally, Barclays upgraded shares of Garmin from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $208.00 to $217.00 in a report on Friday. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $244.40.

Garmin Stock Performance

Garmin stock opened at $200.76 on Wednesday. The stock has a market cap of $38.61 billion, a PE ratio of 24.72, a price-to-earnings-growth ratio of 2.24 and a beta of 1.00. The stock has a 50-day moving average of $202.51 and a two-hundred day moving average of $222.66. Garmin Ltd. has a one year low of $169.26 and a one year high of $261.69.

Garmin (NYSE:GRMN) last posted its quarterly earnings data on Wednesday, October 29th. The scientific and technical instruments company reported $1.99 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.99. The firm 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%. The company’s revenue for the quarter was up 11.7% compared to the same quarter last year. 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. As a group, sell-side analysts predict that Garmin Ltd. will post 7.8 EPS for the current fiscal year.

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.