3,403 Shares in Garmin Ltd. $GRMN Bought by United Services Automobile Association

United Services Automobile Association acquired a new stake in Garmin Ltd. (NYSE:GRMN) during the 1st quarter, Holdings Channel reports. The firm acquired 3,403 shares of the scientific and technical instruments company’s stock, valued at approximately $727,000.

Other large investors have also recently made changes to their positions in the company. Brighton Jones LLC grew its holdings in Garmin by 31.3% during the 4th quarter. Brighton Jones LLC now owns 1,943 shares of the scientific and technical instruments company’s stock valued at $401,000 after buying an additional 463 shares in the last quarter. Cetera Investment Advisers boosted its position in shares of Garmin by 28.7% during the 4th quarter. Cetera Investment Advisers now owns 27,575 shares of the scientific and technical instruments company’s stock valued at $5,688,000 after acquiring an additional 6,145 shares during the last quarter. Fiduciary Trust Co purchased a new position in shares of Garmin in the fourth quarter valued at $202,000. Focus Partners Wealth increased its position in Garmin by 44.9% in the fourth quarter. Focus Partners Wealth now owns 4,507 shares of the scientific and technical instruments company’s stock worth $954,000 after purchasing an additional 1,397 shares during the last quarter. Finally, Janus Henderson Group PLC raised its stake in Garmin by 15.5% during the fourth quarter. Janus Henderson Group PLC now owns 22,596 shares of the scientific and technical instruments company’s stock valued at $4,662,000 after purchasing an additional 3,032 shares in the last quarter. 81.60% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

GRMN has been the subject of a number of recent research reports. Morgan Stanley lifted their price objective on shares of Garmin from $172.00 to $186.00 and gave the stock an “underweight” rating in a research note on Thursday, July 31st. Barclays reaffirmed an “underweight” rating and issued a $167.00 price target (up previously from $152.00) on shares of Garmin in a report on Wednesday, July 30th. Finally, JPMorgan Chase & Co. boosted their price objective on Garmin from $215.00 to $250.00 and gave the stock a “neutral” rating in a research note on Thursday, July 17th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $222.00.

Insider Activity

In other news, CFO Douglas G. Boessen sold 1,859 shares of the stock in a transaction that occurred on Thursday, July 3rd. The stock was 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 approximately $6,266,390. This represents a 6.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Cheng-Wei Wang sold 10,202 shares of the firm’s stock in a transaction that occurred 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 sale, the insider directly owned 36,092 shares of the company’s stock, valued at $8,390,668.16. This represents a 22.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,960 shares of company stock valued at $4,376,918. 19.54% of the stock is currently owned by insiders.

Garmin Trading Up 0.9%

Garmin stock opened at $239.57 on Tuesday. The firm has a 50-day moving average price of $228.24 and a 200-day moving average price of $212.02. The firm has a market capitalization of $46.12 billion, a PE ratio of 29.54, a price-to-earnings-growth ratio of 2.61 and a beta of 1.00. Garmin Ltd. has a 12-month low of $160.94 and a 12-month high of $246.50.

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

Garmin 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.