Garmin Ltd. $GRMN Shares Bought by National Pension Service

National Pension Service lifted its position in shares of Garmin Ltd. (NYSE:GRMN) by 0.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 273,864 shares of the scientific and technical instruments company’s stock after acquiring an additional 1,724 shares during the quarter. National Pension Service owned 0.14% of Garmin worth $57,161,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Advyzon Investment Management LLC increased its position in Garmin by 21.3% during the 2nd quarter. Advyzon Investment Management LLC now owns 2,506 shares of the scientific and technical instruments company’s stock worth $523,000 after purchasing an additional 440 shares during the period. Vise Technologies Inc. purchased a new position in Garmin in the second quarter worth $731,000. Allworth Financial LP raised its position in Garmin by 27.2% in the second quarter. Allworth Financial LP now owns 1,682 shares of the scientific and technical instruments company’s stock worth $351,000 after acquiring an additional 360 shares in the last quarter. ProShare Advisors LLC lifted its holdings in Garmin by 2.5% in the second quarter. ProShare Advisors LLC now owns 26,313 shares of the scientific and technical instruments company’s stock valued at $5,492,000 after acquiring an additional 654 shares during the period. Finally, Midwest Trust Co purchased a new stake in shares of Garmin during the 2nd quarter worth $789,000. Institutional investors and hedge funds own 81.60% of the company’s stock.

Insider Activity

In other news, insider Cheng-Wei Wang sold 10,202 shares of Garmin 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 directly owned 36,092 shares in the company, valued at $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 SEC, which is available through the SEC website. 19.54% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on GRMN. Tigress Financial increased their price target 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. Morgan Stanley upped their target price on shares of Garmin from $193.00 to $195.00 and gave the stock an “underweight” rating in a research report on Thursday, October 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of Garmin in a research report on Wednesday, October 8th. Barclays upped their price target on Garmin from $167.00 to $208.00 and gave the stock an “underweight” rating in a report on Thursday, October 30th. Finally, JPMorgan Chase & Co. lifted their price objective on Garmin from $215.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $239.50.

Garmin Stock Performance

GRMN stock opened at $195.18 on Friday. The stock’s 50 day moving average price is $236.07 and its 200 day moving average price is $222.08. The firm has a market cap of $37.54 billion, a P/E ratio of 24.04, a PEG ratio of 2.41 and a beta of 1.01. Garmin Ltd. has a 1 year low of $169.26 and a 1 year high of $261.69.

Garmin (NYSE:GRMN) last released its quarterly earnings results on Wednesday, October 29th. The scientific and technical instruments company reported $1.99 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.99. The company had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.78 billion. Garmin had a return on equity of 19.42% and a net margin of 22.63%.The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.99 earnings per share. Garmin has set its FY 2025 guidance at 8.150-8.150 EPS. On average, research analysts predict that Garmin Ltd. will post 7.8 earnings per share for the current year.

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.