Peterson Wealth Services Purchases 155 Shares of Garmin Ltd. $GRMN

Peterson Wealth Services raised its position in shares of Garmin Ltd. (NYSE:GRMN) by 0.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,987 shares of the scientific and technical instruments company’s stock after buying an additional 155 shares during the quarter. Garmin comprises 1.0% of Peterson Wealth Services’ portfolio, making the stock its 25th biggest holding. Peterson Wealth Services’ holdings in Garmin were worth $3,754,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sage Mountain Advisors LLC grew its holdings in shares of Garmin by 36.8% in the second quarter. Sage Mountain Advisors LLC now owns 2,121 shares of the scientific and technical instruments company’s stock valued at $443,000 after purchasing an additional 571 shares in the last quarter. Asset Management One Co. Ltd. lifted its position in Garmin by 0.7% during the second quarter. Asset Management One Co. Ltd. now owns 69,145 shares of the scientific and technical instruments company’s stock valued at $14,432,000 after purchasing an additional 499 shares during the last quarter. R Squared Ltd purchased a new position in shares of Garmin in the 2nd quarter worth $566,000. FSM Wealth Advisors LLC increased its holdings in shares of Garmin by 106.3% in the 2nd quarter. FSM Wealth Advisors LLC now owns 3,088 shares of the scientific and technical instruments company’s stock worth $662,000 after buying an additional 1,591 shares during the last quarter. Finally, Forum Financial Management LP raised its position in shares of Garmin by 14.2% during the 2nd quarter. Forum Financial Management LP now owns 2,489 shares of the scientific and technical instruments company’s stock valued at $520,000 after buying an additional 309 shares in the last quarter. 81.60% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Garmin in a research report on Wednesday, October 8th. 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. JPMorgan Chase & Co. boosted their price objective on shares of Garmin from $215.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday, July 17th. Tigress Financial lifted their price target on shares of Garmin from $285.00 to $305.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, September 30th. Finally, Barclays reissued an “underweight” rating and issued a $167.00 price objective (up from $152.00) on shares of Garmin in a research report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Garmin has a consensus rating of “Hold” and a consensus target price of $228.75.

Garmin Price Performance

GRMN stock opened at $250.28 on Friday. Garmin Ltd. has a 1-year low of $161.97 and a 1-year high of $261.69. The business has a 50-day moving average price of $242.57 and a 200 day moving average price of $219.78. The company has a market capitalization of $48.18 billion, a P/E ratio of 30.86, a PEG ratio of 2.74 and a beta of 0.98.

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

Insider Buying and Selling

In related news, insider Cheng-Wei Wang sold 10,202 shares of the business’s stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $232.48, for a total value of $2,371,760.96. Following the completion of the transaction, the insider owned 36,092 shares of the company’s stock, valued at $8,390,668.16. The trade was a 22.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 15.38% of the stock is owned by company insiders.

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.