Aberdeen Group plc Has $22.55 Million Stock Holdings in Garmin Ltd. $GRMN

Aberdeen Group plc raised its holdings in shares of Garmin Ltd. (NYSE:GRMN) by 7.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 108,025 shares of the scientific and technical instruments company’s stock after purchasing an additional 7,505 shares during the quarter. Aberdeen Group plc owned approximately 0.06% of Garmin worth $22,547,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in GRMN. Groupe la Francaise acquired a new stake in Garmin during the 1st quarter valued at $33,000. TFC Financial Management Inc. lifted its holdings in Garmin by 1,633.3% during the 1st quarter. TFC Financial Management Inc. now owns 156 shares of the scientific and technical instruments company’s stock valued at $34,000 after purchasing an additional 147 shares during the last quarter. Wayfinding Financial LLC acquired a new stake in Garmin during the 1st quarter valued at $34,000. Zions Bancorporation National Association UT acquired a new stake in Garmin during the 1st quarter valued at $38,000. Finally, Garde Capital Inc. acquired a new stake in Garmin during the 1st quarter valued at $40,000. Institutional investors and hedge funds own 81.60% of the company’s stock.

Insider Activity at Garmin

In other Garmin news, insider Cheng-Wei Wang sold 10,202 shares of Garmin stock in a transaction dated 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 transaction, the insider owned 36,092 shares in the company, valued at $8,390,668.16. The trade was a 22.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 19.54% of the company’s stock.

Garmin Stock Performance

Shares of NYSE GRMN opened at $251.35 on Tuesday. Garmin Ltd. has a 52 week low of $160.95 and a 52 week high of $261.69. The stock has a market capitalization of $48.38 billion, a P/E ratio of 30.99, a PEG ratio of 2.72 and a beta of 0.98. The stock’s fifty day moving average is $239.42 and its 200 day moving average is $216.75.

Garmin (NYSE:GRMN) last issued its quarterly earnings results on Wednesday, July 30th. The scientific and technical instruments company reported $2.17 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.27. Garmin had a return on equity of 20.00% and a net margin of 23.21%.The company had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.68 billion. During the same quarter last year, the business earned $1.58 earnings per share. Garmin’s revenue was up 20.4% on a year-over-year basis. Garmin has set its FY 2025 guidance at 8.000-8.000 EPS. Equities research analysts forecast that Garmin Ltd. will post 7.8 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on GRMN. JPMorgan Chase & Co. raised their price target on Garmin from $215.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, July 17th. Barclays reissued an “underweight” rating and set a $167.00 target price (up previously from $152.00) on shares of Garmin in a report on Wednesday, July 30th. Morgan Stanley lifted their target price on Garmin from $186.00 to $193.00 and gave the stock an “underweight” rating in a report on Friday, September 19th. Weiss Ratings reissued a “buy (b)” rating on shares of Garmin in a report on Wednesday, October 8th. Finally, Tigress Financial lifted their target price on Garmin from $285.00 to $305.00 and gave the stock a “strong-buy” rating in a report on Tuesday, September 30th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $228.75.

Garmin 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.