Cresset Asset Management LLC Has $1.15 Million Stake in Garmin Ltd. $GRMN

Cresset Asset Management LLC raised its stake in shares of Garmin Ltd. (NYSE:GRMN) by 415.9% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 5,494 shares of the scientific and technical instruments company’s stock after acquiring an additional 4,429 shares during the quarter. Cresset Asset Management LLC’s holdings in Garmin were worth $1,147,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in GRMN. Quaker Wealth Management LLC lifted its holdings in Garmin by 200.0% in the 2nd quarter. Quaker Wealth Management LLC now owns 132 shares of the scientific and technical instruments company’s stock worth $28,000 after purchasing an additional 264 shares during the last quarter. Groupe la Francaise bought a new position in shares of Garmin in the first quarter valued at approximately $33,000. Zions Bancorporation National Association UT acquired a new stake in shares of Garmin in the first quarter worth $38,000. SOA Wealth Advisors LLC. boosted its holdings in shares of Garmin by 27.5% during the 2nd quarter. SOA Wealth Advisors LLC. now owns 269 shares of the scientific and technical instruments company’s stock worth $56,000 after buying an additional 58 shares during the period. Finally, GFG Capital LLC acquired a new position in Garmin in the 2nd quarter valued at $67,000. Institutional investors own 81.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Barclays boosted their target price on shares of Garmin from $167.00 to $208.00 and gave the stock an “underweight” rating in a research report on Thursday, October 30th. Tigress Financial increased their target price on Garmin from $285.00 to $305.00 and gave the company a “strong-buy” rating in a research note on Tuesday, September 30th. Morgan Stanley lifted their price target on Garmin from $193.00 to $195.00 and gave the stock an “underweight” rating in a research report on Thursday, October 30th. Longbow Research raised Garmin from a “neutral” rating to a “buy” rating and set a $250.00 price objective for the company in a research report on Wednesday, December 3rd. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Garmin in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $241.60.

Garmin Trading Up 3.9%

Shares of NYSE:GRMN opened at $210.06 on Thursday. The business’s 50 day moving average is $219.72 and its 200-day moving average is $222.17. The firm has a market capitalization of $40.40 billion, a PE ratio of 25.87, a PEG ratio of 2.29 and a beta of 1.01. Garmin Ltd. has a 1-year low of $169.26 and a 1-year high of $261.69.

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

Garmin Company 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.