Andrew Hill Investment Advisors Inc. Grows Position in Garmin Ltd. $GRMN

Key Points

• Andrew Hill Investment Advisors Inc. raised its stake in Garmin Ltd. by 29.6% in Q2, acquiring an additional 5,347 shares and now holds 23,427 shares, accounting for 3.9% of its portfolio.
• Several institutional investors, including TFC Financial Management Inc. and Zions Bancorporation, have recently modified their positions on Garmin, reflecting a strong interest in the stock, which is owned by 81.60% of institutional investors.
• Garmin reported a 20.4% year-over-year revenue increase for the latest quarter, with an EPS of $2.17 surpassing analyst expectations, and has set its FY 2025 guidance at 8.000 EPS.

Andrew Hill Investment Advisors Inc. lifted its position in Garmin Ltd. (NYSE:GRMN - Free Report) by 29.6% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 23,427 shares of the scientific and technical instruments company's stock after buying an additional 5,347 shares during the quarter. Garmin comprises 3.9% of Andrew Hill Investment Advisors Inc.'s investment portfolio, making the stock its 9th largest holding. Andrew Hill Investment Advisors Inc.'s holdings in Garmin were worth $4,890,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Groupe la Francaise acquired a new position in shares of Garmin during the 1st quarter valued at about $33,000. TFC Financial Management Inc. lifted its position in shares of Garmin by 1,633.3% in the 1st quarter. TFC Financial Management Inc. now owns 156 shares of the scientific and technical instruments company's stock worth $34,000 after acquiring an additional 147 shares during the period. Wayfinding Financial LLC bought a new stake in shares of Garmin in the 1st quarter worth approximately $34,000. Zions Bancorporation National Association UT bought a new stake in shares of Garmin in the 1st quarter worth approximately $38,000. Finally, Garde Capital Inc. bought a new position in shares of Garmin during the 1st quarter worth approximately $40,000. Institutional investors own 81.60% of the company's stock.

Insider Activity at Garmin

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

Garmin Stock Up 0.3%

Shares of Garmin stock traded up $0.73 during trading on Monday, reaching $235.85. 261,241 shares of the company were exchanged, compared to its average volume of 934,744. Garmin Ltd. has a twelve month low of $160.94 and a twelve month high of $246.50. The firm has a market capitalization of $45.40 billion, a price-to-earnings ratio of 29.08, a P/E/G ratio of 2.58 and a beta of 1.00. The business has a 50-day moving average price of $232.28 and a 200-day moving average price of $212.80.

Garmin (NYSE:GRMN - Get Free Report) last posted its earnings results on Wednesday, July 30th. The scientific and technical instruments company reported $2.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.90 by $0.27. The firm had revenue of $1.81 billion during the quarter, compared to analysts' expectations of $1.68 billion. Garmin had a return on equity of 20.00% and a net margin of 23.21%.The company's revenue was up 20.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.58 earnings per share. Garmin has set its FY 2025 guidance at 8.000-8.000 EPS. On average, equities research analysts forecast that Garmin Ltd. will post 7.8 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on GRMN. Morgan Stanley raised their target price on Garmin from $186.00 to $193.00 and gave the stock an "underweight" rating in a research report on Friday. Barclays restated an "underweight" rating and set a $167.00 target price (up previously from $152.00) on shares of Garmin in a research report on Wednesday, July 30th. Finally, JPMorgan Chase & Co. lifted their price objective on Garmin from $215.00 to $250.00 and gave the company a "neutral" rating in a research report on Thursday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $223.75.

About Garmin

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.