Synergy Investment Management LLC Purchases Shares of 912 Garmin Ltd. (NYSE:GRMN)

04 Mar 2025, 07:15 by Renee Jackson · The Cerbat Gem

Synergy Investment Management LLC acquired a new position in shares of Garmin Ltd. (NYSE:GRMN – Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 912 shares of the scientific and technical instruments company’s stock, valued at approximately $188,000.

Several other hedge funds have also made changes to their positions in the business. Golden State Wealth Management LLC purchased a new position in Garmin during the fourth quarter worth about $26,000. Pinnacle Bancorp Inc. purchased a new position in shares of Garmin during the 4th quarter worth about $29,000. Larson Financial Group LLC grew its holdings in Garmin by 578.6% in the third quarter. Larson Financial Group LLC now owns 190 shares of the scientific and technical instruments company’s stock valued at $33,000 after purchasing an additional 162 shares during the period. SOA Wealth Advisors LLC. acquired a new position in Garmin during the fourth quarter worth approximately $37,000. Finally, Itau Unibanco Holding S.A. acquired a new position in Garmin during the third quarter worth approximately $39,000. Institutional investors and hedge funds own 81.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Barclays lifted their price target on shares of Garmin from $158.00 to $188.00 and gave the company an “underweight” rating in a report on Thursday, February 20th. JPMorgan Chase & Co. boosted their price target on Garmin from $219.00 to $260.00 and gave the company a “neutral” rating in a research report on Thursday, February 20th. Morgan Stanley upgraded Garmin to a “sell” rating and raised their price objective for the stock from $164.00 to $171.00 in a report on Tuesday, February 11th. Finally, Tigress Financial boosted their target price on Garmin from $265.00 to $285.00 and gave the stock a “strong-buy” rating in a report on Wednesday, February 26th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $210.80.

Get Our Latest Research Report on GRMN

Insider Buying and Selling at Garmin

In other Garmin news, COO Patrick Desbois sold 6,911 shares of the stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $227.15, for a total transaction of $1,569,833.65. Following the transaction, the chief operating officer now directly owns 63,048 shares in the company, valued at $14,321,353.20. This represents a 9.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Matthew Munn sold 4,637 shares of the firm’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $225.31, for a total transaction of $1,044,762.47. Following the transaction, the director now directly owns 11,450 shares of the company’s stock, valued at approximately $2,579,799.50. This represents a 28.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,274 shares of company stock valued at $5,242,686 in the last ninety days. Insiders own 19.54% of the company’s stock.

Garmin Price Performance

Shares of GRMN opened at $225.95 on Tuesday. Garmin Ltd. has a 12 month low of $137.00 and a 12 month high of $246.50. The stock has a market cap of $43.47 billion, a PE ratio of 30.91, a P/E/G ratio of 1.36 and a beta of 0.98. The stock’s 50-day moving average is $215.39 and its two-hundred day moving average is $198.35.

Garmin (NYSE:GRMN – Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The scientific and technical instruments company reported $2.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.51. The firm had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.70 billion. Garmin had a return on equity of 19.31% and a net margin of 22.42%. Garmin’s quarterly revenue was up 22.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.72 EPS. On average, research analysts anticipate that Garmin Ltd. will post 7.8 earnings per share for the current year.

Garmin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be issued a $0.90 dividend. The ex-dividend date is Friday, March 13th. This represents a $3.60 dividend on an annualized basis and a yield of 1.59%. Garmin’s dividend payout ratio is currently 41.04%.

Garmin Company Profile

(Free Report)

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.