Inscription Capital LLC Raises Stake in Garmin Ltd. $GRMN

Inscription Capital LLC increased its holdings in Garmin Ltd. (NYSE:GRMN) by 238.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,014 shares of the scientific and technical instruments company’s stock after buying 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 reporting period.

Other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC increased its stake in shares of Garmin by 31.3% in the fourth quarter. Brighton Jones LLC now owns 1,943 shares of the scientific and technical instruments company’s stock worth $401,000 after acquiring an additional 463 shares during the period. NewEdge Advisors LLC boosted its holdings in Garmin by 6.2% in the first quarter. NewEdge Advisors LLC now owns 5,885 shares of the scientific and technical instruments company’s stock valued at $1,278,000 after purchasing an additional 345 shares during the last quarter. Woodline Partners LP grew its position in Garmin by 40.6% during the 1st quarter. Woodline Partners LP now owns 13,017 shares of the scientific and technical instruments company’s stock worth $2,826,000 after purchasing an additional 3,757 shares during the period. Focus Partners Wealth raised its stake in shares of Garmin by 51.1% during the 1st quarter. Focus Partners Wealth now owns 6,811 shares of the scientific and technical instruments company’s stock valued at $1,479,000 after buying an additional 2,304 shares during the last quarter. Finally, Sivia Capital Partners LLC lifted its holdings in shares of Garmin by 17.0% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,662 shares of the scientific and technical instruments company’s stock valued at $347,000 after buying an additional 242 shares during the period. 81.60% of the stock is owned by hedge funds and other institutional investors.

Garmin Price Performance

Shares of NYSE:GRMN opened at $200.76 on Wednesday. The business’s 50 day moving average price is $202.51 and its 200-day moving average price is $222.66. Garmin Ltd. has a 1 year low of $169.26 and a 1 year high of $261.69. The firm has a market capitalization of $38.61 billion, a price-to-earnings ratio of 24.72, a price-to-earnings-growth ratio of 2.24 and a beta of 1.00.

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 for the quarter, hitting analysts’ consensus estimates of $1.99. The company 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 for the quarter was up 11.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.99 earnings per share. Garmin has set its FY 2025 guidance at 8.150-8.150 EPS. On average, sell-side analysts expect that Garmin Ltd. will post 7.8 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Insider Activity at Garmin

In related news, CEO Clifton A. Pemble sold 10,431 shares of Garmin stock in a transaction dated 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 sale, the chief executive officer directly owned 135,180 shares in the company, valued at approximately $27,878,171.40. The trade was a 7.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Douglas G. Boessen sold 2,485 shares of the business’s stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $206.26, for a total value of $512,556.10. Following the sale, the chief financial officer owned 28,916 shares of the company’s stock, valued at approximately $5,964,214.16. This trade represents a 7.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 16,594 shares of company stock valued at $3,437,592. 19.54% of the stock is owned by corporate insiders.

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.