Garmin Ltd. $GRMN Stock Holdings Increased by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC raised its holdings in shares of Garmin Ltd. (NYSE:GRMN) by 132.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,589 shares of the scientific and technical instruments company’s stock after buying an additional 3,182 shares during the period. Exchange Traded Concepts LLC’s holdings in Garmin were worth $1,376,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of GRMN. Quaker Wealth Management LLC boosted its stake in shares of Garmin by 200.0% during the 2nd quarter. Quaker Wealth Management LLC now owns 132 shares of the scientific and technical instruments company’s stock worth $28,000 after acquiring an additional 264 shares in the last quarter. Newbridge Financial Services Group Inc. boosted 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 purchasing an additional 123 shares during the period. SOA Wealth Advisors LLC. increased its stake in Garmin by 27.5% in the 2nd quarter. SOA Wealth Advisors LLC. now owns 269 shares of the scientific and technical instruments company’s stock worth $56,000 after purchasing an additional 58 shares in the last quarter. GFG Capital LLC acquired a new stake in Garmin during the 2nd quarter worth about $67,000. Finally, Edmond DE Rothschild Holding S.A. purchased a new stake in Garmin during the second quarter valued at about $73,000. Institutional investors own 81.60% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Garmin Stock Up 0.3%

Shares of NYSE:GRMN opened at $205.64 on Friday. The firm has a fifty day moving average of $208.21 and a two-hundred day moving average of $222.14. Garmin Ltd. has a 12-month low of $169.26 and a 12-month high of $261.69. The firm has a market capitalization of $39.55 billion, a P/E ratio of 25.32, a price-to-earnings-growth ratio of 2.32 and a beta of 1.01.

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 (EPS) for the quarter, hitting the consensus estimate of $1.99. The business had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.78 billion. Garmin had a return on equity of 19.42% and a net margin of 22.63%.Garmin’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period last year, the company earned $1.99 earnings per share. Garmin has set its FY 2025 guidance at 8.150-8.150 EPS. Equities research analysts expect that Garmin Ltd. will post 7.8 earnings per share for the current fiscal year.

Insider Transactions at Garmin

In related news, CEO Clifton A. Pemble sold 10,431 shares of the 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 transaction, the chief executive officer owned 135,180 shares in the company, valued at approximately $27,878,171.40. This represents a 7.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Douglas G. Boessen sold 2,485 shares of Garmin stock in a transaction that occurred on Tuesday, December 16th. The shares were 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 of the company’s stock, valued at $5,964,214.16. This trade represents a 7.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 15.38% of the stock is owned by company 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.