Garmin Ltd. $GRMN Stake Boosted by Andra AP fonden

Andra AP fonden raised its position in shares of Garmin Ltd. (NYSE:GRMN) by 87.2% in the second quarter, Holdings Channel.com reports. The institutional investor owned 67,000 shares of the scientific and technical instruments company’s stock after buying an additional 31,200 shares during the period. Andra AP fonden’s holdings in Garmin were worth $13,984,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in GRMN. Quaker Wealth Management LLC raised its holdings in shares of Garmin by 200.0% during the second 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 period. Groupe la Francaise purchased a new position in shares of Garmin during the first quarter valued at $33,000. Zions Bancorporation National Association UT purchased a new position in Garmin during the 1st quarter valued at about $38,000. Harbour Investments Inc. lifted its position in shares of Garmin by 31.8% in the first quarter. Harbour Investments Inc. now owns 265 shares of the scientific and technical instruments company’s stock worth $58,000 after purchasing an additional 64 shares in the last quarter. Finally, Park Square Financial Group LLC purchased a new position in Garmin during the first quarter valued at approximately $58,000. 81.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Garmin Stock Performance

Shares of NYSE:GRMN opened at $203.97 on Friday. The stock’s 50-day moving average is $239.98 and its 200-day moving average is $221.90. The company has a market cap of $39.23 billion, a P/E ratio of 25.12, a P/E/G ratio of 2.41 and a beta of 1.01. Garmin Ltd. has a 52-week low of $169.26 and a 52-week high of $261.69.

Garmin (NYSE:GRMN) last posted its quarterly earnings data on Wednesday, October 29th. The scientific and technical instruments company reported $1.99 earnings per share for the quarter, hitting the consensus estimate of $1.99. Garmin had a return on equity of 19.42% and a net margin of 22.63%.The business had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.78 billion. During the same quarter in the previous year, the firm earned $1.99 EPS. The firm’s revenue was up 11.7% compared to the same quarter last year. Garmin has set its FY 2025 guidance at 8.150-8.150 EPS. As a group, equities analysts predict that Garmin Ltd. will post 7.8 EPS for the current year.

Insider Buying and Selling 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 value of $2,371,760.96. Following the completion of the sale, the insider directly owned 36,092 shares of the company’s stock, valued at approximately $8,390,668.16. This represents a 22.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 15.38% of the company’s stock.

About Garmin

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.