Joel Isaacson & Co. LLC Takes Position in Garmin Ltd. $GRMN

Joel Isaacson & Co. LLC purchased a new position in Garmin Ltd. (NYSE:GRMN) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,200 shares of the scientific and technical instruments company’s stock, valued at approximately $250,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Groupe la Francaise acquired a new stake in Garmin in the 1st quarter worth about $33,000. TFC Financial Management Inc. boosted its stake in Garmin by 1,633.3% in the 1st 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 during the last quarter. Wayfinding Financial LLC acquired a new stake in Garmin in the 1st quarter worth about $34,000. Zions Bancorporation National Association UT acquired a new stake in Garmin in the 1st quarter worth about $38,000. Finally, Garde Capital Inc. acquired a new stake in Garmin in the 1st quarter worth about $40,000. 81.60% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Barclays reissued an “underweight” rating and issued a $167.00 price target (up from $152.00) on shares of Garmin in a research note on Wednesday, July 30th. Tigress Financial lifted 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. JPMorgan Chase & Co. lifted their price objective on Garmin from $215.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, July 17th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Garmin in a research note on Wednesday. Finally, Morgan Stanley lifted their price objective on Garmin from $186.00 to $193.00 and gave the company an “underweight” rating in a research note on Friday, September 19th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $228.75.

Garmin Stock Performance

Shares of NYSE:GRMN opened at $259.91 on Thursday. The company has a market cap of $50.03 billion, a P/E ratio of 32.05, a PEG ratio of 2.81 and a beta of 0.98. Garmin Ltd. has a one year low of $160.95 and a one year high of $260.58. The business’s 50-day simple moving average is $237.56 and its 200 day simple moving average is $216.00.

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

Insider Activity at Garmin

In related news, insider Cheng-Wei Wang sold 10,202 shares of the firm’s stock in a transaction dated 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 sale, the insider directly owned 36,092 shares in the company, valued at approximately $8,390,668.16. This trade represents a 22.04% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 15.38% of the company’s stock.

Garmin Company 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.