Garmin Ltd. $GRMN Shares Bought by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale boosted its holdings in shares of Garmin Ltd. (NYSE:GRMN) by 1.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 308,787 shares of the scientific and technical instruments company’s stock after purchasing an additional 3,115 shares during the period. DekaBank Deutsche Girozentrale owned approximately 0.16% of Garmin worth $63,435,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Kestra Private Wealth Services LLC lifted its holdings in shares of Garmin by 18.7% during the first quarter. Kestra Private Wealth Services LLC now owns 8,559 shares of the scientific and technical instruments company’s stock valued at $1,858,000 after purchasing an additional 1,347 shares during the last quarter. Concurrent Investment Advisors LLC boosted its holdings in shares of Garmin by 23.4% in the first quarter. Concurrent Investment Advisors LLC now owns 2,304 shares of the scientific and technical instruments company’s stock worth $500,000 after buying an additional 437 shares during the period. First Hawaiian Bank acquired a new stake in shares of Garmin during the first quarter valued at approximately $1,649,000. Acadian Asset Management LLC raised its holdings in shares of Garmin by 7.2% during the first quarter. Acadian Asset Management LLC now owns 75,428 shares of the scientific and technical instruments company’s stock valued at $16,368,000 after acquiring an additional 5,089 shares during the period. Finally, Golden State Wealth Management LLC lifted its position in shares of Garmin by 255.2% in the 1st quarter. Golden State Wealth Management LLC now owns 444 shares of the scientific and technical instruments company’s stock valued at $96,000 after acquiring an additional 319 shares in the last quarter. Institutional investors and hedge funds own 81.60% of the company’s stock.

Garmin Stock Performance

NYSE:GRMN opened at $251.49 on Wednesday. The company has a market capitalization of $48.41 billion, a P/E ratio of 31.01, a P/E/G ratio of 2.73 and a beta of 0.98. The stock’s 50 day moving average price is $241.69 and its 200 day moving average price is $218.57. Garmin Ltd. has a 52 week low of $160.95 and a 52 week high of $261.69.

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

Wall Street Analysts Forecast Growth

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

Insider Transactions at Garmin

In other Garmin news, insider Cheng-Wei Wang sold 10,202 shares of the company’s stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $232.48, for a total transaction of $2,371,760.96. Following the completion of the sale, the insider directly owned 36,092 shares in the company, valued at $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 is available at the SEC website. 19.54% of the stock is owned by company insiders.

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.