Garmin Ltd. $GRMN Shares Purchased by NewSquare Capital LLC

NewSquare Capital LLC grew its stake in shares of Garmin Ltd. (NYSE:GRMN) by 4.4% in the second quarter, HoldingsChannel reports. The fund owned 35,440 shares of the scientific and technical instruments company’s stock after buying an additional 1,481 shares during the quarter. NewSquare Capital LLC’s holdings in Garmin were worth $7,302,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Quaker Wealth Management LLC increased its stake in shares of Garmin by 200.0% during the 2nd quarter. Quaker Wealth Management LLC now owns 132 shares of the scientific and technical instruments company’s stock valued at $28,000 after acquiring an additional 264 shares during the last quarter. Groupe la Francaise acquired a new position in shares of Garmin during the 1st quarter valued at about $33,000. Wayfinding Financial LLC acquired a new position in shares of Garmin during the 1st quarter valued at about $34,000. Zions Bancorporation National Association UT acquired a new position in shares of Garmin during the 1st quarter valued at about $38,000. Finally, SOA Wealth Advisors LLC. increased 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 acquiring an additional 58 shares during the last quarter. Institutional investors and hedge funds own 81.60% of the company’s stock.

Insider Transactions at Garmin

In other news, insider Cheng-Wei Wang sold 10,202 shares of the stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $232.48, for a total transaction of $2,371,760.96. Following the completion of the transaction, the insider directly owned 36,092 shares in the company, valued at approximately $8,390,668.16. This represents a 22.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 15.38% of the stock is owned by company insiders.

Garmin Stock Down 1.6%

Shares of NYSE:GRMN opened at $210.44 on Tuesday. Garmin Ltd. has a 52-week low of $169.26 and a 52-week high of $261.69. The company has a 50 day moving average of $241.87 and a two-hundred day moving average of $222.03. The company has a market capitalization of $40.48 billion, a price-to-earnings ratio of 25.92, a price-to-earnings-growth ratio of 2.41 and a beta of 0.98.

Garmin (NYSE:GRMN) last issued its quarterly earnings data on Wednesday, October 29th. The scientific and technical instruments company reported $1.99 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.99. Garmin had a net margin of 22.63% and a return on equity of 19.42%. The company had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.78 billion. During the same quarter last year, the company earned $1.99 earnings per share. Garmin’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, equities analysts anticipate that Garmin Ltd. will post 7.8 earnings per share for the current year.

Analyst Ratings Changes

GRMN has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Garmin in a research note on Wednesday, October 8th. Morgan Stanley boosted their target price on Garmin from $193.00 to $195.00 and gave the stock an “underweight” rating in a report on Thursday, October 30th. Tigress Financial boosted their target price on Garmin from $285.00 to $305.00 and gave the stock a “strong-buy” rating in a report on Tuesday, September 30th. Barclays boosted their target price on Garmin from $167.00 to $208.00 and gave the stock an “underweight” rating in a report on Thursday. Finally, JPMorgan Chase & Co. boosted their target price on Garmin from $215.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Garmin presently has a consensus rating of “Hold” and an average price target of $239.50.

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.