Teacher Retirement System of Texas Raises Stake in Garmin Ltd. $GRMN

Teacher Retirement System of Texas raised its holdings in shares of Garmin Ltd. (NYSE:GRMN) by 11.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 158,189 shares of the scientific and technical instruments company’s stock after acquiring an additional 16,867 shares during the period. Teacher Retirement System of Texas’ holdings in Garmin were worth $38,949,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Quaker Wealth Management LLC grew its holdings 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 purchasing an additional 264 shares during the last quarter. Richardson Financial Services Inc. lifted its stake in Garmin by 62.2% in the third quarter. Richardson Financial Services Inc. now owns 133 shares of the scientific and technical instruments company’s stock worth $33,000 after purchasing an additional 51 shares during the last quarter. Tradewinds Capital Management LLC purchased a new stake in Garmin during the third quarter valued at about $44,000. SJS Investment Consulting Inc. grew its stake in shares of Garmin by 1,530.8% during the third quarter. SJS Investment Consulting Inc. now owns 212 shares of the scientific and technical instruments company’s stock valued at $52,000 after buying an additional 199 shares during the last quarter. Finally, Mascoma Wealth Management LLC purchased a new position in shares of Garmin in the third quarter worth about $54,000. 81.60% of the stock is owned by hedge funds and other institutional investors.

Garmin Stock Up 0.1%

Shares of Garmin stock opened at $206.24 on Friday. The business has a 50 day moving average of $203.10 and a 200 day moving average of $222.36. Garmin Ltd. has a 52 week low of $169.26 and a 52 week high of $261.69. The company has a market cap of $39.67 billion, a PE ratio of 25.40, a P/E/G ratio of 2.18 and a beta of 1.00.

Garmin (NYSE:GRMN) last released its quarterly earnings results on Wednesday, October 29th. The scientific and technical instruments company reported $1.99 earnings per share 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 business had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.78 billion. During the same quarter in the previous year, the business posted $1.99 earnings per share. The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. Garmin has set its FY 2025 guidance at 8.150-8.150 EPS. On average, research analysts anticipate that Garmin Ltd. will post 7.8 earnings per share for the current year.

Insider Activity

In related news, CEO Clifton A. Pemble sold 10,431 shares of the business’s stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $206.23, for a total transaction of $2,151,185.13. Following the transaction, the chief executive officer owned 135,180 shares in the company, valued at $27,878,171.40. The trade was a 7.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Douglas G. Boessen sold 2,485 shares of the stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $206.26, for a total transaction of $512,556.10. Following the completion of the transaction, the chief financial officer directly owned 28,916 shares of the company’s stock, valued at approximately $5,964,214.16. The trade was a 7.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 16,594 shares of company stock valued at $3,437,592. Corporate insiders own 15.38% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on GRMN shares. Weiss Ratings restated a “buy (b)” rating on shares of Garmin in a report on Thursday. Tigress Financial reiterated a “strong-buy” rating on shares of Garmin in a research report on Friday, December 19th. Morgan Stanley increased their price objective on Garmin from $193.00 to $195.00 and gave the company an “underweight” rating in a research note on Thursday, October 30th. Barclays raised shares of Garmin from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $208.00 to $217.00 in a research note on Friday, January 16th. Finally, Longbow Research raised shares of Garmin from a “neutral” rating to a “buy” rating and set a $250.00 price target for the company in a research report on Wednesday, December 3rd. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $244.40.

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.