Rathbones Group PLC Takes Position in Garmin Ltd. $GRMN

Rathbones Group PLC bought a new position in shares of Garmin Ltd. (NYSE:GRMN) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,508 shares of the scientific and technical instruments company’s stock, valued at approximately $315,000.

A number of other large investors have also recently added to or reduced their stakes in GRMN. Fulton Bank N.A. increased its stake in shares of Garmin by 2.6% during the 2nd quarter. Fulton Bank N.A. now owns 1,883 shares of the scientific and technical instruments company’s stock worth $393,000 after purchasing an additional 47 shares during the last quarter. Arrow Investment Advisors LLC increased its position in 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 buying an additional 49 shares during the last quarter. Curbstone Financial Management Corp raised its stake in Garmin by 1.3% in the second quarter. Curbstone Financial Management Corp now owns 3,936 shares of the scientific and technical instruments company’s stock valued at $822,000 after buying an additional 50 shares during the period. MassMutual Private Wealth & Trust FSB lifted its position in shares of Garmin by 7.1% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 783 shares of the scientific and technical instruments company’s stock valued at $163,000 after buying an additional 52 shares during the last quarter. Finally, SOA Wealth Advisors LLC. boosted its stake in shares of Garmin by 27.5% during the 2nd 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 during the period. Institutional investors and hedge funds own 81.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on GRMN. Barclays raised their price target on Garmin from $167.00 to $208.00 and gave the company an “underweight” rating in a report on Thursday, October 30th. Weiss Ratings restated a “buy (b)” rating on shares of Garmin in a research note on Wednesday, October 8th. Morgan Stanley lifted 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. 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. Finally, JPMorgan Chase & Co. boosted 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 investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Garmin has a consensus rating of “Hold” and an average price target of $239.50.

Garmin Stock Down 1.4%

Shares of Garmin stock opened at $199.85 on Wednesday. The stock has a market capitalization of $38.44 billion, a price-to-earnings ratio of 24.61, a price-to-earnings-growth 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 company has a 50-day simple moving average of $237.69 and a two-hundred day simple moving average of $222.44.

Garmin (NYSE:GRMN) last announced its earnings results on Wednesday, October 29th. The scientific and technical instruments company reported $1.99 EPS for the quarter, hitting the consensus estimate of $1.99. The company had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.78 billion. Garmin had a net margin of 22.63% and a return on equity of 19.42%. The business’s revenue for the quarter 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, sell-side analysts anticipate that Garmin Ltd. will post 7.8 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Cheng-Wei Wang sold 10,202 shares of the company’s stock in a transaction on 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 completion of the sale, the insider directly owned 36,092 shares in the company, valued at approximately $8,390,668.16. This represents a 22.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 19.54% of the stock is owned by corporate insiders.

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.