1,727 Shares in Garmin Ltd. $GRMN Acquired by Callan Family Office LLC

Callan Family Office LLC acquired a new position in Garmin Ltd. (NYSE:GRMN) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,727 shares of the scientific and technical instruments company’s stock, valued at approximately $360,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Groupe la Francaise bought a new stake in Garmin during the 1st quarter valued at $33,000. TFC Financial Management Inc. boosted its position in Garmin by 1,633.3% during the 1st quarter. TFC Financial Management Inc. now owns 156 shares of the scientific and technical instruments company’s stock valued at $34,000 after acquiring an additional 147 shares in the last quarter. Wayfinding Financial LLC bought a new stake in Garmin during the 1st quarter valued at $34,000. Zions Bancorporation National Association UT bought a new stake in Garmin during the 1st quarter valued at $38,000. Finally, Garde Capital Inc. bought a new stake in Garmin during the 1st quarter valued at $40,000. Institutional investors own 81.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on GRMN. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Garmin in a research report on Wednesday, October 8th. Barclays reaffirmed an “underweight” rating and set a $167.00 target price (up previously from $152.00) on shares of Garmin in a research report on Wednesday, July 30th. Morgan Stanley increased their target price on Garmin from $186.00 to $193.00 and gave the company an “underweight” rating in a research report on Friday, September 19th. JPMorgan Chase & Co. increased their target price on Garmin from $215.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday, July 17th. Finally, Tigress Financial raised their price objective on Garmin from $285.00 to $305.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, September 30th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Garmin has an average rating of “Hold” and an average price target of $228.75.

Garmin Price Performance

Shares of GRMN stock opened at $249.51 on Thursday. The firm has a market capitalization of $48.03 billion, a price-to-earnings ratio of 30.77, a price-to-earnings-growth ratio of 2.73 and a beta of 0.98. The business has a fifty day moving average of $240.23 and a 200 day moving average of $217.20. Garmin Ltd. has a 1 year low of $160.95 and a 1 year high of $261.69.

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

Insider Transactions at Garmin

In related news, insider Cheng-Wei Wang sold 10,202 shares of the firm’s stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $232.48, for a total value of $2,371,760.96. Following the completion of the transaction, the insider owned 36,092 shares in the company, valued at $8,390,668.16. This trade represents a 22.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 15.38% of the stock is owned by company insiders.

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.