Tower View Wealth Management LLC Purchases 2,510 Shares of Garmin Ltd. $GRMN

Tower View Wealth Management LLC raised its holdings in shares of Garmin Ltd. (NYSE:GRMN) by 13.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,803 shares of the scientific and technical instruments company’s stock after acquiring an additional 2,510 shares during the quarter. Garmin makes up approximately 2.4% of Tower View Wealth Management LLC’s holdings, making the stock its 18th biggest position. Tower View Wealth Management LLC’s holdings in Garmin were worth $4,551,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its holdings 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 last quarter. Invesco Ltd. boosted its stake in shares of Garmin by 9.0% during the 1st quarter. Invesco Ltd. now owns 1,862,153 shares of the scientific and technical instruments company’s stock worth $404,329,000 after buying an additional 153,267 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of Garmin by 79.3% in the 1st quarter. AQR Capital Management LLC now owns 1,585,170 shares of the scientific and technical instruments company’s stock valued at $340,574,000 after acquiring an additional 700,967 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Garmin by 21.2% in 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 valued at $262,907,000 after acquiring an additional 211,731 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Garmin by 0.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 892,606 shares of the scientific and technical instruments company’s stock worth $193,812,000 after acquiring an additional 2,768 shares in the last quarter. Institutional investors own 81.60% of the company’s stock.

Garmin Price Performance

NYSE:GRMN opened at $257.61 on Friday. The company has a market cap 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. The firm’s fifty day moving average price is $235.59 and its two-hundred day moving average price is $214.64. Garmin Ltd. has a one year low of $160.94 and a one year high of $258.42.

Garmin (NYSE:GRMN) last announced its quarterly earnings results on Wednesday, July 30th. The scientific and technical instruments company reported $2.17 EPS for the quarter, beating analysts’ consensus estimates of $1.90 by $0.27. The business had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.68 billion. Garmin had a net margin of 23.21% and a return on equity of 20.00%. Garmin’s quarterly revenue was up 20.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.58 EPS. Garmin has set its FY 2025 guidance at 8.000-8.000 EPS. As a group, equities research analysts expect that Garmin Ltd. will post 7.8 earnings per share for the current year.

Insider Activity at Garmin

In other news, insider Cheng-Wei Wang sold 10,202 shares of the 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 in the company, valued at approximately $8,390,668.16. This trade represents a 22.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 15.38% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on GRMN shares. JPMorgan Chase & Co. increased their price target on Garmin from $215.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday, July 17th. Morgan Stanley increased their price objective on Garmin from $186.00 to $193.00 and gave the company an “underweight” rating in a report on Friday, September 19th. Barclays reissued an “underweight” rating and issued a $167.00 target price (up from $152.00) on shares of Garmin in a research note on Wednesday, July 30th. Finally, Tigress Financial upped their price target on shares of Garmin from $285.00 to $305.00 and gave the stock a “strong-buy” rating in a research report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $228.75.

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.