Cromwell Holdings LLC Purchases 164 Shares of Garmin Ltd. $GRMN

Cromwell Holdings LLC raised its position in Garmin Ltd. (NYSE:GRMN) by 56.4% during the second quarter, Holdings Channel reports. The fund owned 455 shares of the scientific and technical instruments company’s stock after acquiring an additional 164 shares during the period. Cromwell Holdings LLC’s holdings in Garmin were worth $95,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of GRMN. Groupe la Francaise purchased a new stake in Garmin in the first quarter worth about $33,000. TFC Financial Management Inc. increased its position in Garmin by 1,633.3% in the first quarter. TFC Financial Management Inc. now owns 156 shares of the scientific and technical instruments company’s stock worth $34,000 after buying an additional 147 shares in the last quarter. Wayfinding Financial LLC purchased a new stake in Garmin in the first quarter worth about $34,000. Zions Bancorporation National Association UT purchased a new stake in Garmin in the first quarter worth about $38,000. Finally, Garde Capital Inc. purchased a new stake in Garmin in the first quarter worth about $40,000. Hedge funds and other institutional investors own 81.60% of the company’s stock.

Analyst Upgrades and Downgrades

GRMN has been the subject of a number of analyst reports. Morgan Stanley upped their price target on Garmin from $186.00 to $193.00 and gave the stock an “underweight” rating in a research report on Friday, September 19th. Tigress Financial upped their price target on Garmin from $285.00 to $305.00 and gave the stock a “strong-buy” rating in a research report on Tuesday. JPMorgan Chase & Co. upped their price target on Garmin from $215.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, July 17th. Finally, Barclays restated an “underweight” rating and issued a $167.00 price target (up previously from $152.00) on shares of Garmin in a research report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Garmin currently has a consensus rating of “Hold” and a consensus price target of $228.75.

Garmin Trading Up 1.0%

NYSE:GRMN opened at $257.61 on Friday. Garmin Ltd. has a 12-month low of $160.94 and a 12-month high of $258.42. The stock has a 50-day moving average price of $235.59 and a 200 day moving average price of $214.64. The stock has a market capitalization of $49.59 billion, a P/E ratio of 31.76, a P/E/G ratio of 2.80 and a beta of 0.98.

Garmin (NYSE:GRMN) last released its earnings results on Wednesday, July 30th. The scientific and technical instruments company reported $2.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.27. Garmin had a return on equity of 20.00% and a net margin of 23.21%.The firm had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.68 billion. During the same quarter last year, the business posted $1.58 earnings per share. The firm’s revenue was up 20.4% on a year-over-year basis. Garmin has set its FY 2025 guidance at 8.000-8.000 EPS. On average, research analysts predict that Garmin Ltd. will post 7.8 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Garmin news, insider Cheng-Wei Wang sold 10,202 shares of the firm’s 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 completion of the transaction, the insider owned 36,092 shares in the company, valued at $8,390,668.16. This trade represents a 22.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 15.38% of the stock is owned by corporate 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.