Howard Capital Management Inc. Has $236,000 Stock Position in Garmin Ltd. $GRMN

Howard Capital Management Inc. increased its holdings in shares of Garmin Ltd. (NYSE:GRMN) by 19.2% in the 2nd quarter, HoldingsChannel reports. The firm owned 1,130 shares of the scientific and technical instruments company’s stock after acquiring an additional 182 shares during the period. Howard Capital Management Inc.’s holdings in Garmin were worth $236,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in GRMN. AQR Capital Management LLC grew its stake in Garmin by 79.3% during the first 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 purchasing an additional 700,967 shares during the period. Nuveen LLC acquired a new stake in Garmin during the first quarter worth approximately $78,900,000. Vanguard Group Inc. grew its stake in Garmin by 2.0% during the first quarter. Vanguard Group Inc. now owns 18,425,166 shares of the scientific and technical instruments company’s stock worth $4,000,656,000 after purchasing an additional 357,458 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake 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 worth $262,907,000 after purchasing an additional 211,731 shares during the period. Finally, Clark Capital Management Group Inc. acquired a new stake in Garmin during the first quarter worth approximately $40,322,000. Institutional investors and hedge funds own 81.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on GRMN. JPMorgan Chase & Co. raised their target price on Garmin from $215.00 to $250.00 and gave the stock a “neutral” rating in a research note on Thursday, July 17th. Morgan Stanley raised their price objective on Garmin from $193.00 to $195.00 and gave the company an “underweight” rating in a research note on Thursday. Weiss Ratings reissued a “buy (b)” rating on shares of Garmin in a research note on Wednesday, October 8th. Tigress Financial raised their price objective on Garmin from $285.00 to $305.00 and gave the company a “strong-buy” rating in a research note on Tuesday, September 30th. Finally, Barclays raised their price objective on Garmin from $167.00 to $208.00 and gave the company an “underweight” rating in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $239.50.

Insider Activity

In related news, insider Cheng-Wei Wang sold 10,202 shares of Garmin stock in a transaction that occurred on 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 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 Securities & Exchange Commission, which is available at this link. 15.38% of the stock is currently owned by insiders.

Garmin Stock Down 2.0%

Shares of NYSE:GRMN opened at $215.23 on Friday. The stock has a market cap of $41.43 billion, a price-to-earnings ratio of 26.51, a PEG ratio of 2.41 and a beta of 0.98. Garmin Ltd. has a 12-month low of $169.26 and a 12-month high of $261.69. The business’s 50 day moving average is $242.76 and its 200 day moving average is $221.31.

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

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.