Garmin Ltd. $GRMN Shares Acquired by New York Life Investment Management LLC

New York Life Investment Management LLC grew its position in Garmin Ltd. (NYSE:GRMN) by 2.5% during the second quarter, Holdings Channel.com reports. The firm owned 21,564 shares of the scientific and technical instruments company’s stock after acquiring an additional 523 shares during the period. New York Life Investment Management LLC’s holdings in Garmin were worth $4,501,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of GRMN. Fulton Bank N.A. lifted its position in shares of Garmin by 2.6% during 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 buying an additional 47 shares during the last quarter. Arrow Investment Advisors LLC lifted its position in shares of Garmin by 3.6% during 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 buying an additional 49 shares during the last quarter. Curbstone Financial Management Corp lifted 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 worth $822,000 after buying an additional 50 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted 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 worth $163,000 after buying an additional 52 shares during the last quarter. Finally, SOA Wealth Advisors LLC. lifted 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 worth $56,000 after buying an additional 58 shares during the last quarter. 81.60% of the stock is currently owned by institutional investors and hedge funds.

Garmin Stock Performance

Shares of Garmin stock opened at $215.23 on Friday. Garmin Ltd. has a 1 year low of $169.26 and a 1 year high of $261.69. The company has a market capitalization of $41.43 billion, a P/E ratio of 26.51, a PEG ratio of 2.41 and a beta of 0.98. The company’s fifty day moving average is $242.76 and its two-hundred day moving average is $221.31.

Garmin (NYSE:GRMN) last issued its quarterly earnings data on Wednesday, October 29th. The scientific and technical instruments company reported $1.99 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.99. Garmin had a net margin of 22.63% and a return on equity of 19.42%. The company had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.78 billion. During the same period last year, the firm posted $1.99 EPS. Garmin’s revenue for the quarter was up 11.7% on a year-over-year basis. Garmin has set its FY 2025 guidance at 8.150-8.150 EPS. As a group, equities analysts expect that Garmin Ltd. will post 7.8 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently weighed in on GRMN. Morgan Stanley boosted their price objective on shares of Garmin from $193.00 to $195.00 and gave the stock an “underweight” rating in a research report on Thursday. Weiss Ratings restated a “buy (b)” rating on shares of Garmin in a research report on Wednesday, October 8th. Tigress Financial boosted their price objective on shares of Garmin from $285.00 to $305.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, September 30th. JPMorgan Chase & Co. boosted their price objective on shares of Garmin from $215.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, July 17th. Finally, Barclays boosted their price objective on shares of Garmin from $167.00 to $208.00 and gave the stock an “underweight” rating in a research report on Thursday. One 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 currently has an average rating of “Hold” and a consensus price target of $239.50.

Insider Transactions 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 transaction, the insider directly owned 36,092 shares of the company’s stock, valued at approximately $8,390,668.16. The trade was a 22.04% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 15.38% of the company’s stock.

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.