Diversify Wealth Management LLC Takes $584,000 Position in Garmin Ltd. $GRMN

Diversify Wealth Management LLC purchased a new stake in Garmin Ltd. (NYSE:GRMN) during the 1st quarter, HoldingsChannel.com reports. The firm purchased 2,308 shares of the scientific and technical instruments company’s stock, valued at approximately $584,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GRMN. Reflection Asset Management acquired a new position in Garmin during the 4th quarter valued at about $32,000. Atlas Capital Advisors Inc. acquired a new stake in shares of Garmin during the 4th quarter worth approximately $34,000. GraniteShares Advisors LLC acquired a new stake in shares of Garmin during the 4th quarter worth approximately $41,000. Torren Management LLC bought a new stake in shares of Garmin during the fourth quarter worth approximately $41,000. Finally, SHP Wealth Management acquired a new position in Garmin in the fourth quarter valued at approximately $44,000. 81.60% of the stock is currently owned by institutional investors and hedge funds.

Garmin Stock Performance

GRMN opened at $249.86 on Friday. The firm’s fifty day moving average is $238.18 and its two-hundred day moving average is $233.46. The firm has a market cap of $48.19 billion, a PE ratio of 27.85, a price-to-earnings-growth ratio of 2.97 and a beta of 0.90. Garmin Ltd. has a twelve month low of $186.67 and a twelve month high of $273.32.

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

Wall Street Analyst Weigh In

A number of brokerages have issued reports on GRMN. Morgan Stanley set a $249.00 price objective on shares of Garmin in a research note on Thursday, April 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Garmin in a research note on Monday, June 8th. JPMorgan Chase & Co. raised their price target on Garmin from $265.00 to $285.00 and gave the stock a “neutral” rating in a research report on Thursday, April 16th. Wall Street Zen cut Garmin from a “buy” rating to a “hold” rating in a research note on Saturday, June 20th. Finally, Barclays dropped their price objective on Garmin from $240.00 to $238.00 and set an “equal weight” rating for the company in a report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, Garmin has an average rating of “Moderate Buy” and a consensus price target of $269.40.

Insider Transactions at Garmin

In other news, Director Joseph J. Hartnett sold 643 shares of the firm’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 sale, the director owned 21,277 shares of the company’s stock, valued at $5,607,978.89. This trade represents a 2.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Douglas G. Boessen sold 2,000 shares of Garmin 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 transaction, the chief financial officer owned 26,049 shares in the company, valued at $6,197,317.59. This trade represents a 7.13% decrease in their position. The disclosure for this sale is available in the SEC filing. 14.80% of the stock is currently owned by insiders.

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.