Asset Management One Co. Ltd. Increases Stock Position in Garmin Ltd. $GRMN

Asset Management One Co. Ltd. boosted its stake in Garmin Ltd. (NYSE:GRMN) by 0.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 69,145 shares of the scientific and technical instruments company’s stock after acquiring an additional 499 shares during the period. Asset Management One Co. Ltd.’s holdings in Garmin were worth $14,432,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GRMN. Brighton Jones LLC lifted its position in Garmin by 31.3% in the fourth quarter. Brighton Jones LLC now owns 1,943 shares of the scientific and technical instruments company’s stock valued at $401,000 after acquiring an additional 463 shares during the last quarter. GAMMA Investing LLC lifted its position in Garmin by 15.8% in the first quarter. GAMMA Investing LLC now owns 4,078 shares of the scientific and technical instruments company’s stock valued at $885,000 after acquiring an additional 557 shares during the last quarter. Golden State Wealth Management LLC raised its holdings in shares of Garmin by 255.2% in the first quarter. Golden State Wealth Management LLC now owns 444 shares of the scientific and technical instruments company’s stock valued at $96,000 after buying an additional 319 shares during the last quarter. Perigon Wealth Management LLC raised its holdings in shares of Garmin by 25.2% in the first quarter. Perigon Wealth Management LLC now owns 2,323 shares of the scientific and technical instruments company’s stock valued at $504,000 after buying an additional 467 shares during the last quarter. Finally, Diversified Trust Co raised its holdings in shares of Garmin by 58.5% in the first quarter. Diversified Trust Co now owns 5,643 shares of the scientific and technical instruments company’s stock valued at $1,225,000 after buying an additional 2,082 shares during the last quarter. 81.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GRMN has been the subject of a number of research reports. Morgan Stanley upped their target price on shares of Garmin from $186.00 to $193.00 and gave the company an “underweight” rating in a report on Friday, September 19th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Garmin in a report on Saturday. JPMorgan Chase & Co. upped their target price on shares of Garmin from $215.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, July 17th. Tigress Financial upped their target price 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, Barclays reaffirmed an “underweight” rating and issued a $167.00 target price (up from $152.00) on shares of Garmin in a report on Wednesday, July 30th. One research 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 given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $228.75.

Garmin Trading Up 0.0%

Shares of Garmin stock opened at $250.28 on Monday. Garmin Ltd. has a 12-month low of $161.97 and a 12-month high of $261.69. The company has a 50-day moving average of $242.57 and a two-hundred day moving average of $220.30. The stock has a market cap of $48.18 billion, a PE ratio of 30.86, a price-to-earnings-growth ratio of 2.74 and a beta of 0.98.

Garmin (NYSE:GRMN) last released its earnings results on Wednesday, July 30th. The scientific and technical instruments company reported $2.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.90 by $0.27. The firm had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.68 billion. Garmin had a net margin of 23.21% and a return on equity of 20.00%. Garmin’s revenue was up 20.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.58 earnings per share. Garmin has set its FY 2025 guidance at 8.000-8.000 EPS. On average, sell-side analysts forecast that Garmin Ltd. will post 7.8 EPS for the current fiscal year.

Insider Activity at Garmin

In other news, insider Cheng-Wei Wang sold 10,202 shares of the company’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 transaction, the insider owned 36,092 shares of the company’s stock, valued at approximately $8,390,668.16. This represents a 22.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 19.54% of the company’s stock.

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.