Inspire Investing LLC Has $2.05 Million Stake in Garmin Ltd. $GRMN

Inspire Investing LLC increased its position in Garmin Ltd. (NYSE:GRMN) by 6.7% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 9,428 shares of the scientific and technical instruments company’s stock after purchasing an additional 590 shares during the period. Inspire Investing LLC’s holdings in Garmin were worth $2,047,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GRMN. Brighton Jones LLC lifted its position in Garmin by 31.3% in the 4th quarter. Brighton Jones LLC now owns 1,943 shares of the scientific and technical instruments company’s stock worth $401,000 after buying an additional 463 shares in the last quarter. Focus Partners Wealth lifted its position in Garmin by 44.9% in the 4th quarter. Focus Partners Wealth now owns 4,507 shares of the scientific and technical instruments company’s stock worth $954,000 after buying an additional 1,397 shares in the last quarter. Janus Henderson Group PLC lifted its position in Garmin by 15.5% in the 4th quarter. Janus Henderson Group PLC now owns 22,596 shares of the scientific and technical instruments company’s stock worth $4,662,000 after buying an additional 3,032 shares in the last quarter. Lazard Asset Management LLC lifted its position in Garmin by 53.0% in the 4th quarter. Lazard Asset Management LLC now owns 26,396 shares of the scientific and technical instruments company’s stock worth $5,443,000 after buying an additional 9,141 shares in the last quarter. Finally, NorthRock Partners LLC purchased a new stake in Garmin in the 4th quarter worth approximately $364,000. Institutional investors and hedge funds own 81.60% of the company’s stock.

Garmin Price Performance

Shares of GRMN opened at $238.07 on Friday. The company has a market capitalization of $45.83 billion, a PE ratio of 29.36, a price-to-earnings-growth ratio of 2.65 and a beta of 1.00. Garmin Ltd. has a one year low of $160.94 and a one year high of $246.50. The company’s fifty day moving average price is $230.27 and its 200 day moving average price is $212.58.

Garmin (NYSE:GRMN) last announced its earnings results on Wednesday, July 30th. The scientific and technical instruments company reported $2.17 EPS for the quarter, topping the consensus estimate of $1.90 by $0.27. The firm had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.68 billion. Garmin had a net margin of 23.21% and a return on equity of 20.00%. The business’s quarterly revenue was up 20.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.58 EPS. Garmin has set its FY 2025 guidance at 8.000-8.000 EPS. Analysts anticipate that Garmin Ltd. will post 7.8 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on GRMN. JPMorgan Chase & Co. increased their target price on shares of Garmin from $215.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, July 17th. Morgan Stanley increased their target price on shares of Garmin from $172.00 to $186.00 and gave the stock an “underweight” rating in a research report on Thursday, July 31st. Finally, Barclays restated an “underweight” rating and set a $167.00 price target (up previously from $152.00) on shares of Garmin in a report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $222.00.

Insiders Place Their Bets

In other Garmin news, CFO Douglas G. Boessen sold 1,859 shares of the firm’s stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $215.00, for a total value of $399,685.00. Following the sale, the chief financial officer directly owned 29,146 shares in the company, valued at $6,266,390. This trade represents a 6.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Clifton A. Pemble sold 7,899 shares of the firm’s stock in a transaction on Monday, June 16th. The stock was sold at an average price of $203.25, for a total transaction of $1,605,471.75. Following the completion of the sale, the chief executive officer owned 141,626 shares in the company, valued at $28,785,484.50. This represents a 5.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,960 shares of company stock worth $4,376,918 in the last ninety days. Insiders own 15.38% of the company’s stock.

Garmin Company Profile

Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of wireless devices worldwide. Its Fitness segment offers running and multi-sport watches; cycling products; smartwatch devices; scales and monitors; and fitness accessories. This segment also provides Garmin Connect and Garmin Connect Mobile, which are web and mobile platforms where users can track and analyze their fitness, activities and workouts, and wellness data; and Connect IQ, an application development platform.