Brighton Jones LLC Grows Position in Garmin Ltd. $GRMN

Brighton Jones LLC grew its stake in shares of Garmin Ltd. (NYSE:GRMN) by 187.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,269 shares of the scientific and technical instruments company’s stock after buying an additional 4,085 shares during the period. Brighton Jones LLC’s holdings in Garmin were worth $1,308,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Fulton Bank N.A. grew its position in shares of Garmin by 2.6% in the second quarter. Fulton Bank N.A. now owns 1,883 shares of the scientific and technical instruments company’s stock valued at $393,000 after purchasing an additional 47 shares during the period. Arrow Investment Advisors LLC lifted its stake in shares of Garmin by 3.6% during the second quarter. Arrow Investment Advisors LLC now owns 1,412 shares of the scientific and technical instruments company’s stock worth $295,000 after purchasing an additional 49 shares in the last quarter. Curbstone Financial Management Corp lifted its stake in shares of Garmin by 1.3% during the second quarter. Curbstone Financial Management Corp now owns 3,936 shares of the scientific and technical instruments company’s stock worth $822,000 after purchasing an additional 50 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Garmin by 7.1% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 783 shares of the scientific and technical instruments company’s stock worth $163,000 after purchasing an additional 52 shares in the last quarter. Finally, SOA Wealth Advisors LLC. lifted its stake in shares of Garmin by 27.5% in the second quarter. SOA Wealth Advisors LLC. now owns 269 shares of the scientific and technical instruments company’s stock worth $56,000 after acquiring an additional 58 shares in the last quarter. Hedge funds and other institutional investors own 81.60% of the company’s stock.

Insiders Place Their Bets

In other Garmin 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 transaction, the insider directly owned 36,092 shares in the company, valued at $8,390,668.16. This trade represents a 22.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 15.38% of the stock is currently owned by company insiders.

Garmin Trading Up 0.4%

Shares of NYSE:GRMN opened at $251.57 on Tuesday. Garmin Ltd. has a 1 year low of $163.11 and a 1 year high of $261.69. The business has a fifty day simple moving average of $242.95 and a 200 day simple moving average of $220.71. The firm has a market cap of $48.43 billion, a price-to-earnings ratio of 31.02, a P/E/G ratio of 2.74 and a beta of 0.98.

Garmin (NYSE:GRMN) last announced its quarterly earnings data on Wednesday, July 30th. The scientific and technical instruments company reported $2.17 earnings per share (EPS) for the quarter, topping 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 business had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.68 billion. During the same period last year, the company earned $1.58 earnings per share. Garmin’s quarterly 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. On average, sell-side analysts forecast that Garmin Ltd. will post 7.8 EPS for the current year.

Analyst Ratings Changes

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