Jefferies Financial Group Inc. Buys 20,659 Shares of Garmin Ltd. $GRMN

Jefferies Financial Group Inc. increased its stake in shares of Garmin Ltd. (NYSE:GRMN) by 121.2% in the second quarter, Holdings Channel.com reports. The fund owned 37,699 shares of the scientific and technical instruments company’s stock after purchasing an additional 20,659 shares during the period. Jefferies Financial Group Inc.’s holdings in Garmin were worth $7,869,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Waterloo Capital L.P. increased its holdings in shares of Garmin by 23.9% in the second quarter. Waterloo Capital L.P. now owns 5,019 shares of the scientific and technical instruments company’s stock worth $1,048,000 after purchasing an additional 969 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Garmin by 2.2% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 912,614 shares of the scientific and technical instruments company’s stock valued at $190,481,000 after buying an additional 20,008 shares in the last quarter. Bowen Hanes & Co. Inc. increased its stake in Garmin by 0.3% in the 2nd quarter. Bowen Hanes & Co. Inc. now owns 225,615 shares of the scientific and technical instruments company’s stock worth $47,090,000 after acquiring an additional 600 shares during the last quarter. Rhumbline Advisers raised its holdings in shares of Garmin by 2.0% during the 2nd quarter. Rhumbline Advisers now owns 340,212 shares of the scientific and technical instruments company’s stock worth $71,009,000 after acquiring an additional 6,654 shares in the last quarter. Finally, Mufg Securities Americas Inc. boosted its position in shares of Garmin by 25.5% during the 2nd quarter. Mufg Securities Americas Inc. now owns 3,414 shares of the scientific and technical instruments company’s stock valued at $713,000 after acquiring an additional 694 shares during the last quarter. 81.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Morgan Stanley boosted their price target on shares of Garmin from $193.00 to $195.00 and gave the stock an “underweight” rating in a research report on Thursday, October 30th. Tigress Financial boosted their target price on shares of Garmin from $285.00 to $305.00 and gave the stock a “strong-buy” rating in a report on Tuesday, September 30th. Barclays increased their price target on shares of Garmin from $167.00 to $208.00 and gave the company an “underweight” rating in a report on Thursday, October 30th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Garmin in a research report on Wednesday, October 8th. One 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 company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $239.50.

Garmin Trading Up 0.2%

NYSE:GRMN opened at $192.52 on Tuesday. The company has a market cap of $37.03 billion, a price-to-earnings ratio of 23.71, a price-to-earnings-growth ratio of 2.41 and a beta of 1.01. Garmin Ltd. has a twelve month low of $169.26 and a twelve month high of $261.69. The stock has a fifty day simple moving average of $229.43 and a 200-day simple moving average of $222.45.

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

Insiders Place Their Bets

In other Garmin news, insider Cheng-Wei Wang sold 10,202 shares of the company’s stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $232.48, for a total value of $2,371,760.96. Following the completion of the sale, the insider directly owned 36,092 shares in the company, valued at approximately $8,390,668.16. This represents a 22.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 15.38% of the stock is currently 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.