Peterson Wealth Services Grows Stock Holdings in Garmin Ltd. $GRMN

Peterson Wealth Services lifted its position in Garmin Ltd. (NYSE:GRMN) by 0.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 17,987 shares of the scientific and technical instruments company’s stock after buying an additional 155 shares during the period. Garmin makes up about 1.0% of Peterson Wealth Services’ portfolio, making the stock its 25th largest position. Peterson Wealth Services’ holdings in Garmin were worth $3,754,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Groupe la Francaise purchased a new position in Garmin in the first quarter worth $33,000. TFC Financial Management Inc. increased its position in Garmin by 1,633.3% during the 1st quarter. TFC Financial Management Inc. now owns 156 shares of the scientific and technical instruments company’s stock valued at $34,000 after buying an additional 147 shares in the last quarter. Wayfinding Financial LLC acquired a new position in Garmin during the 1st quarter valued at about $34,000. Zions Bancorporation National Association UT purchased a new stake in Garmin in the first quarter valued at about $38,000. Finally, Olde Wealth Management LLC acquired a new stake in Garmin in the first quarter worth about $43,000. Hedge funds and other institutional investors own 81.60% of the company’s stock.

Garmin Price Performance

NYSE GRMN opened at $250.28 on Friday. Garmin Ltd. has a 1 year low of $161.97 and a 1 year high of $261.69. The company has a market capitalization of $48.18 billion, a PE ratio of 30.86, a P/E/G ratio of 2.74 and a beta of 0.98. The company has a fifty day moving average of $242.57 and a 200 day moving average of $219.78.

Garmin (NYSE:GRMN) last issued its quarterly earnings data 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. The business had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.68 billion. Garmin had a return on equity of 20.00% and a net margin of 23.21%.The company’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.58 EPS. Garmin has set its FY 2025 guidance at 8.000-8.000 EPS. Research analysts expect that Garmin Ltd. will post 7.8 earnings per share for the current year.

Insider Buying and Selling

In other Garmin news, insider Cheng-Wei Wang sold 10,202 shares of Garmin stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $232.48, for a total value of $2,371,760.96. Following the completion of the transaction, the insider 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 15.38% of the company’s stock.

Analyst Ratings Changes

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