Drucker Wealth 3.0 LLC Takes Position in Garmin Ltd. $GRMN

Key Points

• Drucker Wealth 3.0 LLC has acquired 4,453 shares of Garmin Ltd., valued at approximately $967,000, indicating a strong interest in the scientific and technical instruments company during the 2nd quarter.
• Garmin's recent quarterly earnings surpassed analysts' expectations, reporting $2.17 EPS on revenue of $1.81 billion, which was a 20.4% increase year-over-year.
• Analysts have mixed ratings on Garmin, with price targets varying from $167.00 to $305.00, reflecting differing opinions on the company's growth potential.

Drucker Wealth 3.0 LLC acquired a new stake in shares of Garmin Ltd. (NYSE:GRMN - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 4,453 shares of the scientific and technical instruments company's stock, valued at approximately $967,000.

A number of other large investors also recently made changes to their positions in the company. Aberdeen Group plc lifted its position in shares of Garmin by 7.5% during the second quarter. Aberdeen Group plc now owns 108,025 shares of the scientific and technical instruments company's stock valued at $22,547,000 after purchasing an additional 7,505 shares in the last quarter. Strong Tower Advisory Services boosted its stake in shares of Garmin by 0.8% in the 2nd quarter. Strong Tower Advisory Services now owns 16,895 shares of the scientific and technical instruments company's stock worth $3,526,000 after buying an additional 142 shares during the last quarter. Baskin Financial Services Inc. boosted its stake in shares of Garmin by 0.8% in the 2nd quarter. Baskin Financial Services Inc. now owns 151,155 shares of the scientific and technical instruments company's stock worth $31,549,000 after buying an additional 1,264 shares during the last quarter. IFP Advisors Inc boosted its stake in shares of Garmin by 14.6% in the 2nd quarter. IFP Advisors Inc now owns 3,295 shares of the scientific and technical instruments company's stock worth $688,000 after buying an additional 419 shares during the last quarter. Finally, Callan Family Office LLC purchased a new position in Garmin in the second quarter worth $360,000. 81.60% of the stock is owned by institutional investors.

Garmin Price Performance

NYSE:GRMN opened at $248.18 on Friday. The stock's fifty day moving average price is $238.90 and its two-hundred day moving average price is $216.49. The company has a market cap of $47.77 billion, a P/E ratio of 30.60, a P/E/G ratio of 2.81 and a beta of 0.98. Garmin Ltd. has a 1 year low of $160.95 and a 1 year high of $261.69.

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 analysts' consensus estimates of $1.90 by $0.27. Garmin had a return on equity of 20.00% and a net margin of 23.21%.The business had revenue of $1.81 billion for the quarter, compared to analysts' expectations of $1.68 billion. During the same quarter in the prior year, the firm posted $1.58 EPS. The firm's quarterly revenue 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, analysts expect that Garmin Ltd. will post 7.8 earnings per share for the current fiscal year.

Insider Transactions at Garmin

In other Garmin news, insider Cheng-Wei Wang sold 10,202 shares of the stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $232.48, for a total value of $2,371,760.96. Following the sale, the insider directly owned 36,092 shares in the company, valued at $8,390,668.16. This represents a 22.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 15.38% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on GRMN shares. JPMorgan Chase & Co. boosted their price target on shares of Garmin from $215.00 to $250.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Weiss Ratings reiterated a "buy (b)" rating on shares of Garmin in a research note on Wednesday. Barclays reiterated an "underweight" rating and issued a $167.00 price objective (up previously from $152.00) on shares of Garmin in a research note on Wednesday, July 30th. Morgan Stanley upped their price objective on Garmin from $186.00 to $193.00 and gave the company an "underweight" rating in a research note on Friday, September 19th. Finally, Tigress Financial upped their price target on Garmin from $285.00 to $305.00 and gave the company a "strong-buy" rating in a research report on Tuesday, September 30th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Garmin presently has a consensus rating of "Hold" and a consensus target price of $228.75.

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.

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