Garmin Ltd. $GRMN Shares Bought by Acadian Asset Management LLC

Key Points

• Acadian Asset Management LLC increased its stake in Garmin Ltd. by 7.2%, holding 75,428 shares valued at approximately $16.37 million.
• Garmin's latest earnings report showed a 20.4% year-over-year revenue increase to $1.81 billion, with an EPS of $2.17, exceeding analysts' estimates.
• Institutional investors now own 81.60% of Garmin's stock, highlighting strong interest from large funds and investors.

Acadian Asset Management LLC boosted its holdings in shares of Garmin Ltd. (NYSE:GRMN - Free Report) by 7.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 75,428 shares of the scientific and technical instruments company's stock after acquiring an additional 5,089 shares during the period. Acadian Asset Management LLC's holdings in Garmin were worth $16,368,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Geneos Wealth Management Inc. raised its holdings in shares of Garmin by 10.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 3,176 shares of the scientific and technical instruments company's stock worth $690,000 after acquiring an additional 313 shares during the period. Focus Partners Wealth increased its position in shares of Garmin by 51.1% during the 1st quarter. Focus Partners Wealth now owns 6,811 shares of the scientific and technical instruments company's stock worth $1,479,000 after purchasing an additional 2,304 shares during the last quarter. Integrity Alliance LLC. lifted its holdings in shares of Garmin by 58.0% in the 1st quarter. Integrity Alliance LLC. now owns 1,758 shares of the scientific and technical instruments company's stock worth $382,000 after acquiring an additional 645 shares during the last quarter. Plato Investment Management Ltd acquired a new position in Garmin during the first quarter worth $78,000. Finally, Advisory Alpha LLC lifted its stake in Garmin by 7.1% during the first quarter. Advisory Alpha LLC now owns 1,575 shares of the scientific and technical instruments company's stock worth $342,000 after purchasing an additional 105 shares in the last quarter. Hedge funds and other institutional investors own 81.60% of the company's stock.

Insider Buying and Selling at Garmin

In other Garmin news, insider Cheng-Wei Wang sold 10,202 shares of the firm's stock in a transaction on 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 transaction, the insider directly owned 36,092 shares of the company's stock, valued at approximately $8,390,668.16. This trade represents a 22.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Douglas G. Boessen sold 1,859 shares of the firm's stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $215.00, for a total transaction of $399,685.00. Following the transaction, the chief financial officer directly owned 29,146 shares in the company, valued at $6,266,390. The trade was a 6.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 19.54% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. increased their target price on shares of Garmin from $215.00 to $250.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Morgan Stanley increased their target price on shares of Garmin from $172.00 to $186.00 and gave the stock an "underweight" rating in a report on Thursday, July 31st. Finally, Barclays reiterated an "underweight" rating and set a $167.00 target price (up from $152.00) on shares of Garmin in a report on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $222.00.

Garmin Trading Up 0.3%

Shares of NYSE GRMN traded up $0.77 during mid-day trading on Tuesday, reaching $236.60. The company had a trading volume of 317,231 shares, compared to its average volume of 926,721. The firm has a 50 day simple moving average of $230.70 and a two-hundred day simple moving average of $212.45. The stock has a market cap of $45.54 billion, a P/E ratio of 29.16, a PEG ratio of 2.62 and a beta of 1.00. Garmin Ltd. has a 52-week low of $160.94 and a 52-week high of $246.50.

Garmin (NYSE:GRMN - Get Free Report) last issued 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 net margin of 23.21% and a return on equity of 20.00%. The company had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same period last year, the firm posted $1.58 EPS. Garmin's revenue for the quarter was up 20.4% on a year-over-year basis. Garmin has set its FY 2025 guidance at 8.000-8.000 EPS. On average, equities analysts expect that Garmin Ltd. will post 7.8 EPS for the current 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.