Diversify Wealth Management LLC Acquires New Holdings in Garmin Ltd. $GRMN

Diversify Wealth Management LLC bought a new position in shares of Garmin Ltd. (NYSE:GRMN) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 2,308 shares of the scientific and technical instruments company’s stock, valued at approximately $584,000.

A number of other institutional investors also recently modified their holdings of the company. Reflection Asset Management bought a new stake in Garmin during the 4th quarter valued at approximately $32,000. Atlas Capital Advisors Inc. acquired a new position in shares of Garmin during the fourth quarter worth approximately $34,000. GraniteShares Advisors LLC bought a new stake in shares of Garmin in the fourth quarter valued at approximately $41,000. Torren Management LLC bought a new stake in shares of Garmin in the fourth quarter valued at approximately $41,000. Finally, SHP Wealth Management acquired a new stake in shares of Garmin in the fourth quarter worth $44,000. Institutional investors own 81.60% of the company’s stock.

Garmin Stock Down 0.5%

Shares of GRMN stock opened at $249.86 on Friday. The company has a market capitalization of $48.19 billion, a P/E ratio of 27.85, a P/E/G ratio of 2.97 and a beta of 0.90. Garmin Ltd. has a 12-month low of $186.67 and a 12-month high of $273.32. The firm has a 50-day moving average price of $238.18 and a 200 day moving average price of $233.46.

Garmin (NYSE:GRMN) last posted its quarterly earnings data on Wednesday, April 29th. The scientific and technical instruments company reported $2.08 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.24. The company had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.72 billion. Garmin had a net margin of 23.26% and a return on equity of 20.07%. The company’s revenue was up 14.0% on a year-over-year basis. During the same quarter last year, the business posted $1.61 earnings per share. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. As a group, research analysts expect that Garmin Ltd. will post 9.53 earnings per share for the current year.

Insiders Place Their Bets

In other Garmin news, CFO Douglas G. Boessen sold 2,000 shares of the firm’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $237.91, for a total value of $475,820.00. Following the completion of the sale, the chief financial officer owned 26,049 shares in the company, valued at approximately $6,197,317.59. This trade represents a 7.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Joseph J. Hartnett sold 643 shares of the business’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $263.57, for a total transaction of $169,475.51. Following the completion of the transaction, the director directly owned 21,277 shares of the company’s stock, valued at approximately $5,607,978.89. This represents a 2.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 14.80% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Morgan Stanley set a $249.00 price objective on shares of Garmin in a report on Thursday, April 30th. Barclays decreased their target price on Garmin from $240.00 to $238.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Garmin in a report on Monday, June 8th. Zacks Research cut Garmin from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 1st. Finally, Tigress Financial upped their target price on Garmin from $320.00 to $325.00 and gave the company a “strong-buy” rating in a research note on Wednesday, May 20th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $269.40.

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.