Oregon Public Employees Retirement Fund Raises Holdings in Garmin Ltd. $GRMN

Oregon Public Employees Retirement Fund increased its position in Garmin Ltd. (NYSE:GRMN) by 40.1% during the third quarter, Holdings Channel.com reports. The institutional investor owned 18,624 shares of the scientific and technical instruments company’s stock after purchasing an additional 5,329 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Garmin were worth $4,586,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Andra AP fonden raised its position in Garmin by 87.2% in the 2nd quarter. Andra AP fonden now owns 67,000 shares of the scientific and technical instruments company’s stock worth $13,984,000 after purchasing an additional 31,200 shares during the period. First Horizon Advisors Inc. raised its holdings in shares of Garmin by 4.2% in the second quarter. First Horizon Advisors Inc. now owns 121,552 shares of the scientific and technical instruments company’s stock worth $25,370,000 after buying an additional 4,943 shares during the period. EFG Asset Management Americas Corp. raised its holdings in shares of Garmin by 34.1% in the second quarter. EFG Asset Management Americas Corp. now owns 10,455 shares of the scientific and technical instruments company’s stock worth $2,182,000 after buying an additional 2,659 shares during the period. Vanguard Group Inc. lifted its stake in shares of Garmin by 6.9% during the 2nd quarter. Vanguard Group Inc. now owns 19,698,329 shares of the scientific and technical instruments company’s stock worth $4,111,435,000 after acquiring an additional 1,273,163 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. boosted its holdings in Garmin by 4.9% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 50,681 shares of the scientific and technical instruments company’s stock valued at $10,578,000 after acquiring an additional 2,375 shares during the period. 81.60% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on GRMN shares. Tigress Financial reiterated a “strong-buy” rating on shares of Garmin in a research note on Friday, December 19th. Longbow Research raised shares of Garmin from a “neutral” rating to a “buy” rating and set a $250.00 price target on the stock in a research note on Wednesday, December 3rd. Morgan Stanley lifted their price objective on shares of Garmin from $193.00 to $195.00 and gave the company an “underweight” rating in a report on Thursday, October 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Garmin in a research report on Wednesday, October 8th. Finally, Barclays raised their target price on shares of Garmin from $167.00 to $208.00 and gave the stock an “underweight” rating in a research report on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $242.60.

Garmin Price Performance

Shares of Garmin stock opened at $212.33 on Friday. Garmin Ltd. has a 1 year low of $169.26 and a 1 year high of $261.69. The stock has a market cap of $40.84 billion, a price-to-earnings ratio of 26.15, a PEG ratio of 2.24 and a beta of 1.00. The firm’s 50-day moving average is $201.61 and its two-hundred day moving average is $222.53.

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

Insider Transactions at Garmin

In related news, COO Patrick Desbois sold 3,678 shares of the firm’s stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $210.40, for a total transaction of $773,851.20. Following the sale, the chief operating officer owned 61,798 shares of the company’s stock, valued at $13,002,299.20. This trade represents a 5.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Clifton A. Pemble sold 10,431 shares of the stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $206.23, for a total transaction of $2,151,185.13. Following the sale, the chief executive officer directly owned 135,180 shares of the company’s stock, valued at approximately $27,878,171.40. The trade was a 7.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 16,594 shares of company stock valued at $3,437,592. Corporate insiders own 15.38% of the company’s stock.

About Garmin

Garmin Ltd. is a technology company best known for designing and manufacturing navigation, communication and information devices that leverage global positioning system (GPS) technology. The company serves a diverse set of markets including consumer fitness and wearables, automotive navigation, aviation avionics, marine electronics and outdoor handheld devices. Garmin’s products combine hardware, mapping and software services to deliver location-aware solutions for personal, recreational and professional uses.

Garmin’s product lineup includes wearable fitness and multisport watches (Forerunner, Fenix, Venu), cycling computers and accessories (Edge, Varia), handheld and handheld-mounted GPS devices for outdoor activities, automotive and portable navigation units, marine chartplotters and fishfinders, and certified avionics for fixed- and rotary-wing aircraft.