Curbstone Financial Management Corp Grows Stock Position in Garmin Ltd. $GRMN

Curbstone Financial Management Corp raised its holdings in shares of Garmin Ltd. (NYSE:GRMN) by 1.3% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 3,936 shares of the scientific and technical instruments company’s stock after purchasing an additional 50 shares during the quarter. Curbstone Financial Management Corp’s holdings in Garmin were worth $822,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of GRMN. AQR Capital Management LLC grew its position in shares of Garmin by 79.3% during the 1st quarter. AQR Capital Management LLC now owns 1,585,170 shares of the scientific and technical instruments company’s stock worth $340,574,000 after buying an additional 700,967 shares in the last quarter. Nuveen LLC acquired a new position in shares of Garmin in the first quarter valued at about $78,900,000. Vanguard Group Inc. boosted its holdings in shares of Garmin by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 18,425,166 shares of the scientific and technical instruments company’s stock valued at $4,000,656,000 after acquiring an additional 357,458 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Garmin by 21.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,210,827 shares of the scientific and technical instruments company’s stock valued at $262,907,000 after acquiring an additional 211,731 shares in the last quarter. Finally, Clark Capital Management Group Inc. acquired a new position in shares of Garmin during the 1st quarter worth approximately $40,322,000. 81.60% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Garmin

In other news, insider Cheng-Wei Wang sold 10,202 shares of the firm’s stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $232.48, for a total transaction of $2,371,760.96. Following the sale, the insider owned 36,092 shares of the company’s stock, valued at approximately $8,390,668.16. This trade represents a 22.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 15.38% of the company’s stock.

Garmin Stock Performance

Shares of Garmin stock opened at $249.20 on Friday. The stock has a 50 day moving average of $240.92 and a 200 day moving average of $217.62. The firm has a market capitalization of $47.97 billion, a price-to-earnings ratio of 30.73, a PEG ratio of 2.70 and a beta of 0.98. Garmin Ltd. has a fifty-two week low of $160.95 and a fifty-two week high of $261.69.

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

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on GRMN shares. Tigress Financial lifted their price target on Garmin from $285.00 to $305.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, September 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of Garmin in a research report on Wednesday, October 8th. Morgan Stanley boosted their price target on shares of Garmin from $186.00 to $193.00 and gave the stock an “underweight” rating in a research report on Friday, September 19th. JPMorgan Chase & Co. increased their price objective on shares of Garmin from $215.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, July 17th. Finally, Barclays reaffirmed an “underweight” rating and issued a $167.00 price target (up previously from $152.00) on shares of Garmin in a report on Wednesday, July 30th. One equities research 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 issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price 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.