Oregon Public Employees Retirement Fund Buys 5,329 Shares of Garmin Ltd. $GRMN

Oregon Public Employees Retirement Fund grew its position in shares of Garmin Ltd. (NYSE:GRMN) by 40.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,624 shares of the scientific and technical instruments company’s stock after buying an additional 5,329 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Garmin were worth $4,586,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Quaker Wealth Management LLC increased its position in Garmin by 200.0% during the second quarter. Quaker Wealth Management LLC now owns 132 shares of the scientific and technical instruments company’s stock valued at $28,000 after acquiring an additional 264 shares during the last quarter. Tradewinds Capital Management LLC bought a new position in shares of Garmin in the 3rd quarter worth approximately $44,000. SJS Investment Consulting Inc. lifted its stake in shares of Garmin by 1,530.8% in the 3rd quarter. SJS Investment Consulting Inc. now owns 212 shares of the scientific and technical instruments company’s stock worth $52,000 after purchasing an additional 199 shares during the period. Blue Trust Inc. boosted its holdings in shares of Garmin by 30.6% in the third quarter. Blue Trust Inc. now owns 235 shares of the scientific and technical instruments company’s stock worth $58,000 after buying an additional 55 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. grew its position in Garmin by 96.9% during the second quarter. Newbridge Financial Services Group Inc. now owns 250 shares of the scientific and technical instruments company’s stock valued at $52,000 after buying an additional 123 shares during the period. 81.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Morgan Stanley increased 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. Barclays raised their target price on Garmin from $167.00 to $208.00 and gave the stock an “underweight” rating in a report on Thursday, October 30th. Tigress Financial reissued a “strong-buy” rating on shares of Garmin in a report on Friday, December 19th. Weiss Ratings restated a “buy (b)” rating on shares of Garmin in a research report on Wednesday, October 8th. Finally, Longbow Research raised Garmin from a “neutral” rating to a “buy” rating and set a $250.00 price objective on the stock in a research report on Wednesday, December 3rd. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $242.60.

Insider Buying and Selling

In other news, COO Patrick Desbois sold 3,678 shares of Garmin stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $210.40, for a total transaction of $773,851.20. Following the sale, the chief operating officer owned 61,798 shares in the company, valued at $13,002,299.20. This trade represents a 5.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Douglas G. Boessen sold 2,485 shares of the company’s stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $206.26, for a total transaction of $512,556.10. Following the transaction, the chief financial officer owned 28,916 shares of the company’s stock, valued at approximately $5,964,214.16. This represents a 7.91% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 16,594 shares of company stock valued at $3,437,592. Corporate insiders own 15.38% of the company’s stock.

Garmin Stock Performance

Shares of GRMN stock opened at $212.33 on Friday. Garmin Ltd. has a 52-week low of $169.26 and a 52-week high of $261.69. The firm has a market capitalization of $40.84 billion, a PE ratio of 26.15, a PEG ratio of 2.24 and a beta of 1.00. The stock has a fifty day simple moving average of $201.61 and a two-hundred day simple moving average of $222.53.

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

Garmin Profile

Garmin Ltd. is a technology company best known for designing and manufacturing navigation, communication and information devices that leverage global positioning system (GPS) technology. The company serves a diverse set of markets including consumer fitness and wearables, automotive navigation, aviation avionics, marine electronics and outdoor handheld devices. Garmin’s products combine hardware, mapping and software services to deliver location-aware solutions for personal, recreational and professional uses.

Garmin’s product lineup includes wearable fitness and multisport watches (Forerunner, Fenix, Venu), cycling computers and accessories (Edge, Varia), handheld and handheld-mounted GPS devices for outdoor activities, automotive and portable navigation units, marine chartplotters and fishfinders, and certified avionics for fixed- and rotary-wing aircraft.