Woodley Farra Manion Portfolio Management Inc. Has $5.39 Million Stock Position in Garmin Ltd. $GRMN

Woodley Farra Manion Portfolio Management Inc. lowered its position in shares of Garmin Ltd. (NYSE:GRMN) by 3.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 25,807 shares of the scientific and technical instruments company’s stock after selling 979 shares during the quarter. Woodley Farra Manion Portfolio Management Inc.’s holdings in Garmin were worth $5,386,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Intech Investment Management LLC boosted its stake in shares of Garmin by 2.5% in the 2nd quarter. Intech Investment Management LLC now owns 7,988 shares of the scientific and technical instruments company’s stock valued at $1,667,000 after purchasing an additional 192 shares during the last quarter. Cetera Investment Advisers grew its holdings in Garmin by 2.3% during the 2nd quarter. Cetera Investment Advisers now owns 32,743 shares of the scientific and technical instruments company’s stock worth $6,834,000 after acquiring an additional 743 shares during the period. Meridian Wealth Management LLC raised its position in shares of Garmin by 39.3% during the 2nd quarter. Meridian Wealth Management LLC now owns 2,103 shares of the scientific and technical instruments company’s stock valued at $439,000 after acquiring an additional 593 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of Garmin by 7.5% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 37,777 shares of the scientific and technical instruments company’s stock valued at $7,885,000 after purchasing an additional 2,646 shares during the period. Finally, Olympiad Research LP grew its stake in shares of Garmin by 9.5% during the second quarter. Olympiad Research LP now owns 1,210 shares of the scientific and technical instruments company’s stock worth $253,000 after purchasing an additional 105 shares during the period. 81.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GRMN has been the topic of a number of recent analyst reports. Barclays raised their target price on Garmin from $167.00 to $208.00 and gave the stock an “underweight” rating in a report on Thursday, October 30th. 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. Morgan Stanley increased their target price on shares of Garmin from $193.00 to $195.00 and gave the stock an “underweight” rating in a report on Thursday, October 30th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Garmin in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Garmin presently has an average rating of “Hold” and an average price target of $239.50.

Insider Transactions at Garmin

In other Garmin news, insider Cheng-Wei Wang sold 10,202 shares of the business’s stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $232.48, for a total value of $2,371,760.96. Following the sale, the insider owned 36,092 shares in the company, valued at approximately $8,390,668.16. The trade was a 22.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 15.38% of the company’s stock.

Garmin Stock Performance

Shares of GRMN opened at $193.86 on Friday. The firm has a market cap of $37.29 billion, a P/E ratio of 23.87, a PEG ratio of 2.41 and a beta of 1.01. Garmin Ltd. has a twelve month low of $169.26 and a twelve month high of $261.69. The firm’s 50 day moving average price is $235.20 and its two-hundred day moving average price is $222.04.

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

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.