57,500 Shares in Garmin Ltd. $GRMN Purchased by Mn Services Vermogensbeheer B.V.

Key Points

• Mn Services Vermogensbeheer B.V. acquired a new stake in Garmin Ltd., purchasing 57,500 shares valued at approximately $12 million in the second quarter.
• Several institutional investors have recently increased or established their holdings in Garmin, with 81.60% of the stock now owned by these investors.
• Barclays maintained an "underweight" rating for Garmin while JPMorgan Chase & Co. raised its price target from $215.00 to $250.00, indicating mixed analyst sentiments.

Mn Services Vermogensbeheer B.V. purchased a new stake in Garmin Ltd. (NYSE:GRMN - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 57,500 shares of the scientific and technical instruments company's stock, valued at approximately $12,001,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in GRMN. MassMutual Private Wealth & Trust FSB increased its position in Garmin by 7.1% in the 2nd 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 in the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of Garmin by 2.7% during the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,251 shares of the scientific and technical instruments company's stock valued at $489,000 after acquiring an additional 59 shares in the last quarter. Harbour Investments Inc. lifted its holdings in shares of Garmin by 31.8% in the 1st quarter. Harbour Investments Inc. now owns 265 shares of the scientific and technical instruments company's stock worth $58,000 after purchasing an additional 64 shares in the last quarter. Moody National Bank Trust Division grew its position in Garmin by 2.4% in the 1st quarter. Moody National Bank Trust Division now owns 3,015 shares of the scientific and technical instruments company's stock valued at $655,000 after purchasing an additional 72 shares during the period. Finally, FSM Wealth Advisors LLC boosted its stake in Garmin by 5.1% during the 1st quarter. FSM Wealth Advisors LLC now owns 1,497 shares of the scientific and technical instruments company's stock valued at $325,000 after purchasing an additional 72 shares during the last quarter. Institutional investors own 81.60% of the company's stock.

Insider Buying and Selling

In related news, 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 completion of the sale, the chief financial officer directly owned 29,146 shares of the company's stock, valued at approximately $6,266,390. This represents a 6.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 sale, the insider owned 36,092 shares in the company, valued at $8,390,668.16. The trade was a 22.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 19.54% of the company's stock.

Garmin Trading Up 0.9%

NYSE:GRMN traded up $2.10 during trading hours on Tuesday, reaching $238.48. The company had a trading volume of 89,812 shares, compared to its average volume of 933,359. The firm has a market cap of $45.90 billion, a price-to-earnings ratio of 29.41, a PEG ratio of 2.58 and a beta of 1.00. The firm's 50 day moving average price is $232.66 and its 200-day moving average price is $212.92. 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 released its quarterly earnings results on Wednesday, July 30th. The scientific and technical instruments company reported $2.17 EPS for the quarter, beating 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 firm had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.68 billion. During the same quarter in the prior year, the firm earned $1.58 EPS. The business's revenue for the quarter was up 20.4% compared to the same quarter last year. Garmin has set its FY 2025 guidance at 8.000-8.000 EPS. On average, analysts forecast that Garmin Ltd. will post 7.8 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Barclays restated 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 increased their price objective on Garmin from $186.00 to $193.00 and gave the company an "underweight" rating in a research report on Friday. Finally, JPMorgan Chase & Co. lifted their target price on shares of Garmin from $215.00 to $250.00 and gave the stock a "neutral" rating in a research note on Thursday, July 17th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Garmin has a consensus 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.