Legacy Wealth Asset Management LLC Buys 214 Shares of Garmin Ltd. $GRMN

Legacy Wealth Asset Management LLC boosted its holdings in Garmin Ltd. (NYSE:GRMN) by 16.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,542 shares of the scientific and technical instruments company’s stock after purchasing an additional 214 shares during the period. Legacy Wealth Asset Management LLC’s holdings in Garmin were worth $322,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the business. VCI Wealth Management LLC grew its position in Garmin by 11.6% in the second quarter. VCI Wealth Management LLC now owns 5,478 shares of the scientific and technical instruments company’s stock valued at $1,143,000 after purchasing an additional 568 shares in the last quarter. DekaBank Deutsche Girozentrale grew its position in Garmin by 1.0% in the second quarter. DekaBank Deutsche Girozentrale now owns 308,787 shares of the scientific and technical instruments company’s stock valued at $63,435,000 after purchasing an additional 3,115 shares in the last quarter. Unison Advisors LLC grew its position in Garmin by 0.4% in the second quarter. Unison Advisors LLC now owns 28,123 shares of the scientific and technical instruments company’s stock valued at $5,870,000 after purchasing an additional 115 shares in the last quarter. Chicago Partners Investment Group LLC grew its position in Garmin by 27.0% in the second quarter. Chicago Partners Investment Group LLC now owns 6,429 shares of the scientific and technical instruments company’s stock valued at $1,342,000 after purchasing an additional 1,365 shares in the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Garmin in the second quarter valued at $5,427,000. Institutional investors own 81.60% of the company’s stock.

Garmin Price Performance

Shares of GRMN stock opened at $251.49 on Wednesday. The stock has a market cap of $48.41 billion, a P/E ratio of 31.01, a P/E/G ratio of 2.73 and a beta of 0.98. The company has a fifty day moving average price of $241.69 and a two-hundred day moving average price of $218.57. Garmin Ltd. has a one year low of $160.95 and a one year high of $261.69.

Garmin (NYSE:GRMN) last posted its earnings results on Wednesday, July 30th. The scientific and technical instruments company reported $2.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.90 by $0.27. The company had revenue of $1.81 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter last year, the company posted $1.58 EPS. Garmin has set its FY 2025 guidance at 8.000-8.000 EPS. As a group, equities research analysts anticipate that Garmin Ltd. will post 7.8 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on GRMN. Tigress Financial raised their target price on shares of Garmin from $285.00 to $305.00 and gave the company a “strong-buy” rating in a research report on Tuesday, September 30th. Morgan Stanley raised their target price on shares of Garmin from $186.00 to $193.00 and gave the company an “underweight” rating in a research report on Friday, September 19th. Barclays reiterated an “underweight” rating and issued a $167.00 price target (up previously from $152.00) on shares of Garmin in a research note on Wednesday, July 30th. JPMorgan Chase & Co. increased their price target on shares of Garmin from $215.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, July 17th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Garmin in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $228.75.

Insider Activity

In other news, insider Cheng-Wei Wang sold 10,202 shares of the firm’s stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $232.48, for a total transaction of $2,371,760.96. Following the completion of the sale, 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 19.54% of the company’s stock.

Garmin 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.