Aberdeen Group plc Acquires 7,505 Shares of Garmin Ltd. $GRMN

Aberdeen Group plc raised its holdings in Garmin Ltd. (NYSE:GRMN) by 7.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 108,025 shares of the scientific and technical instruments company’s stock after acquiring an additional 7,505 shares during the period. Aberdeen Group plc’s holdings in Garmin were worth $22,547,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in GRMN. Brighton Jones LLC grew its holdings in shares of Garmin by 31.3% during the fourth quarter. Brighton Jones LLC now owns 1,943 shares of the scientific and technical instruments company’s stock worth $401,000 after purchasing an additional 463 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Garmin by 49.1% during the first quarter. Farther Finance Advisors LLC now owns 1,458 shares of the scientific and technical instruments company’s stock worth $317,000 after purchasing an additional 480 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Garmin by 15.8% during the first quarter. GAMMA Investing LLC now owns 4,078 shares of the scientific and technical instruments company’s stock worth $885,000 after purchasing an additional 557 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Garmin by 1.7% during the first quarter. Assenagon Asset Management S.A. now owns 15,294 shares of the scientific and technical instruments company’s stock worth $3,321,000 after purchasing an additional 258 shares during the last quarter. Finally, Fifth Third Bancorp grew its holdings in shares of Garmin by 6.4% during the first quarter. Fifth Third Bancorp now owns 6,864 shares of the scientific and technical instruments company’s stock worth $1,490,000 after purchasing an additional 415 shares during the last quarter. 81.60% of the stock is currently owned by institutional investors.

Insider Transactions at Garmin

In other Garmin news, insider Cheng-Wei Wang sold 10,202 shares of the business’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 value of $2,371,760.96. Following the transaction, the insider directly owned 36,092 shares of the company’s stock, valued at approximately $8,390,668.16. The trade was a 22.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 19.54% of the company’s stock.

Garmin Stock Performance

Shares of GRMN opened at $251.35 on Tuesday. Garmin Ltd. has a 52-week low of $160.95 and a 52-week high of $261.69. The business’s 50 day moving average price is $239.42 and its two-hundred day moving average price is $216.75. The firm has a market cap of $48.38 billion, a PE ratio of 30.99, a price-to-earnings-growth ratio of 2.72 and a beta of 0.98.

Garmin (NYSE:GRMN) last issued its quarterly earnings results on Wednesday, July 30th. The scientific and technical instruments company reported $2.17 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $1.68 billion. During the same period in the previous year, the firm earned $1.58 earnings per share. The company’s revenue was up 20.4% compared to the same quarter last year. Garmin has set its FY 2025 guidance at 8.000-8.000 EPS. Research analysts predict that Garmin Ltd. will post 7.8 EPS for the current fiscal year.

Wall Street Analyst Weigh In

GRMN has been the topic of several research reports. Barclays restated an “underweight” rating and set a $167.00 price target (up from $152.00) on shares of Garmin in a report on Wednesday, July 30th. Morgan Stanley boosted their price target on Garmin from $186.00 to $193.00 and gave the stock an “underweight” rating in a report on Friday, September 19th. JPMorgan Chase & Co. lifted their price objective on Garmin from $215.00 to $250.00 and gave the stock a “neutral” rating in a research note on Thursday, July 17th. Weiss Ratings reiterated a “buy (b)” rating on shares of Garmin in a report on Wednesday, October 8th. Finally, Tigress Financial upped their target price on Garmin from $285.00 to $305.00 and gave the company a “strong-buy” rating in a report on Tuesday, September 30th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Garmin currently has an average rating of “Hold” and a consensus price target of $228.75.

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.