4,553 Shares in Garmin Ltd. $GRMN Bought by ZEGA Investments LLC

ZEGA Investments LLC acquired a new stake in shares of Garmin Ltd. (NYSE:GRMN) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,553 shares of the scientific and technical instruments company’s stock, valued at approximately $1,121,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GRMN. Quaker Wealth Management LLC lifted its holdings in shares of Garmin by 200.0% during the second quarter. Quaker Wealth Management LLC now owns 132 shares of the scientific and technical instruments company’s stock worth $28,000 after purchasing an additional 264 shares during the period. Tradewinds Capital Management LLC acquired a new position in Garmin during the third quarter valued at $44,000. Newbridge Financial Services Group Inc. boosted its holdings in Garmin by 96.9% in the second 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 last quarter. SJS Investment Consulting Inc. grew its position in Garmin by 1,530.8% during the 3rd quarter. SJS Investment Consulting Inc. now owns 212 shares of the scientific and technical instruments company’s stock worth $52,000 after purchasing an additional 199 shares during the period. Finally, SOA Wealth Advisors LLC. raised its stake in shares of Garmin by 27.5% during the 2nd quarter. SOA Wealth Advisors LLC. now owns 269 shares of the scientific and technical instruments company’s stock valued at $56,000 after buying an additional 58 shares during the last quarter. Hedge funds and other institutional investors own 81.60% of the company’s stock.

Garmin Stock Down 0.4%

GRMN opened at $211.45 on Tuesday. The firm’s fifty day simple moving average is $201.63 and its two-hundred day simple moving average is $222.71. Garmin Ltd. has a 52-week low of $169.26 and a 52-week high of $261.69. The company has a market cap of $40.67 billion, a price-to-earnings ratio of 26.04, a PEG ratio of 2.24 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, hitting the consensus estimate of $1.99. Garmin had a net margin of 22.63% and a return on equity of 19.42%. The firm had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.78 billion. During the same quarter in the prior year, the firm earned $1.99 EPS. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. Garmin has set its FY 2025 guidance at 8.150-8.150 EPS. On average, research analysts forecast that Garmin Ltd. will post 7.8 EPS for the current year.

Insider Transactions at Garmin

In related news, 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 transaction of $512,556.10. Following the completion of the sale, the chief financial officer directly owned 28,916 shares in the company, valued at approximately $5,964,214.16. The trade was a 7.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Clifton A. Pemble sold 10,431 shares of Garmin stock in a transaction on 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 in the company, valued at approximately $27,878,171.40. This trade represents a 7.16% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 16,594 shares of company stock valued at $3,437,592 over the last ninety days. Insiders own 19.54% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Tigress Financial restated a “strong-buy” rating on shares of Garmin in a research note on Friday, December 19th. Weiss Ratings reissued a “buy (b)” rating on shares of Garmin in a report 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 note 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. Finally, Morgan Stanley upped 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. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Garmin currently has a consensus rating of “Hold” and an average target price of $242.60.

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.