CW Advisors LLC Sells 8,598 Shares of Garmin Ltd. $GRMN

CW Advisors LLC trimmed its position in Garmin Ltd. (NYSE:GRMN) by 17.7% during the second quarter, HoldingsChannel.com reports. The fund owned 39,994 shares of the scientific and technical instruments company’s stock after selling 8,598 shares during the quarter. CW Advisors LLC’s holdings in Garmin were worth $8,348,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Garmin in the 2nd quarter valued at $410,304,000. Vanguard Group Inc. boosted its stake in Garmin by 6.9% in the second quarter. Vanguard Group Inc. now owns 19,698,329 shares of the scientific and technical instruments company’s stock valued at $4,111,435,000 after buying an additional 1,273,163 shares in the last quarter. AQR Capital Management LLC boosted its stake in Garmin by 79.3% in the first quarter. AQR Capital Management LLC now owns 1,585,170 shares of the scientific and technical instruments company’s stock valued at $340,574,000 after buying an additional 700,967 shares in the last quarter. Nuveen LLC bought a new position in Garmin in the first quarter valued at about $78,900,000. Finally, Artisan Partners Limited Partnership raised its stake in Garmin by 6.4% during the second quarter. Artisan Partners Limited Partnership now owns 5,892,150 shares of the scientific and technical instruments company’s stock worth $1,229,810,000 after acquiring an additional 356,161 shares in the last quarter. 81.60% of the stock is currently owned by institutional investors.

Garmin Trading Up 1.4%

NYSE GRMN opened at $202.18 on Friday. The firm has a market capitalization of $38.89 billion, a PE ratio of 24.90, a price-to-earnings-growth ratio of 2.26 and a beta of 1.01. The business’s 50-day moving average price is $223.13 and its two-hundred day moving average price is $221.98. Garmin Ltd. has a 12 month low of $169.26 and a 12 month 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 EPS for the quarter, hitting analysts’ consensus estimates of $1.99. Garmin had a return on equity of 19.42% and a net margin of 22.63%.The company had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.78 billion. During the same period in the previous year, the firm earned $1.99 earnings per share. The firm’s quarterly revenue was up 11.7% on a year-over-year basis. Garmin has set its FY 2025 guidance at 8.150-8.150 EPS. As a group, analysts forecast that Garmin Ltd. will post 7.8 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Longbow Research raised shares of Garmin from a “neutral” rating to a “buy” rating and set a $250.00 price target on the stock in a report on Wednesday. Tigress Financial raised their target price on shares of Garmin from $285.00 to $305.00 and gave the company a “strong-buy” rating in a research report on Tuesday, September 30th. Barclays upped their price target on shares of Garmin from $167.00 to $208.00 and gave the stock an “underweight” rating in a report on Thursday, October 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Garmin in a report on Wednesday, October 8th. Finally, Morgan Stanley upped 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. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Garmin has an average rating of “Hold” and an average target price of $241.60.

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.