Asset Management One Co. Ltd. Grows Stock Holdings in Garmin Ltd. $GRMN

Asset Management One Co. Ltd. grew its holdings in Garmin Ltd. (NYSE:GRMN) by 0.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,145 shares of the scientific and technical instruments company’s stock after purchasing an additional 499 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Garmin were worth $14,432,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Fulton Bank N.A. lifted its stake in Garmin by 2.6% in the 2nd quarter. Fulton Bank N.A. now owns 1,883 shares of the scientific and technical instruments company’s stock worth $393,000 after purchasing an additional 47 shares in the last quarter. Arrow Investment Advisors LLC lifted its stake in Garmin by 3.6% in the 2nd quarter. Arrow Investment Advisors LLC now owns 1,412 shares of the scientific and technical instruments company’s stock worth $295,000 after purchasing an additional 49 shares in the last quarter. Curbstone Financial Management Corp raised its position in shares of Garmin by 1.3% during the 2nd quarter. Curbstone Financial Management Corp now owns 3,936 shares of the scientific and technical instruments company’s stock valued at $822,000 after buying an additional 50 shares during the period. MassMutual Private Wealth & Trust FSB raised its position in shares of Garmin by 7.1% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 783 shares of the scientific and technical instruments company’s stock valued at $163,000 after buying an additional 52 shares during the period. Finally, SOA Wealth Advisors LLC. raised its position 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 valued at $56,000 after buying an additional 58 shares during the period. 81.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on GRMN. Barclays reaffirmed an “underweight” rating and set a $167.00 price target (up previously from $152.00) on shares of Garmin in a research report on Wednesday, July 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Garmin in a research report on Saturday. JPMorgan Chase & Co. lifted their price target 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 company a “strong-buy” rating in a research report on Tuesday, September 30th. Finally, Morgan Stanley lifted their price target on shares of Garmin from $186.00 to $193.00 and gave the company an “underweight” rating in a research report on Friday, September 19th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Garmin has an average rating of “Hold” and an average target price of $228.75.

Garmin Stock Performance

Garmin stock opened at $250.28 on Monday. Garmin Ltd. has a fifty-two week low of $161.97 and a fifty-two week high of $261.69. The firm has a 50 day moving average price of $242.57 and a 200 day moving average price of $220.30. The company has a market capitalization of $48.18 billion, a PE ratio of 30.86, a price-to-earnings-growth ratio of 2.74 and a beta of 0.98.

Garmin (NYSE:GRMN) last posted its quarterly earnings results on Wednesday, July 30th. The scientific and technical instruments company reported $2.17 EPS for the quarter, topping the consensus estimate of $1.90 by $0.27. The business had revenue of $1.81 billion during 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%. The company’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.58 earnings per share. Garmin has set its FY 2025 guidance at 8.000-8.000 EPS. As a group, equities research analysts forecast that Garmin Ltd. will post 7.8 earnings per share for the current year.

Insider Activity at Garmin

In other Garmin news, insider Cheng-Wei Wang sold 10,202 shares of the business’s stock in a transaction 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 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 the SEC website. 19.54% of the stock is currently owned by company insiders.

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.