Robeco Institutional Asset Management B.V. Purchases 6,529 Shares of Garmin Ltd. $GRMN

Key Points

• Robeco Institutional Asset Management B.V. increased its stake in Garmin Ltd. by 1.7% during the second quarter, now holding approximately 392,310 shares valued at $81.88 million.
• Analysts have differing opinions on Garmin's stock, with price targets ranging from $167 to $305 and a consensus rating of "Hold" with an average target of $228.75.
• Garmin reported a strong quarterly earnings performance, posting $2.17 earnings per share, exceeding estimates by $0.27, and a revenue increase of 20.4% year over year.

Robeco Institutional Asset Management B.V. raised its position in shares of Garmin Ltd. (NYSE:GRMN - Free Report) by 1.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 392,310 shares of the scientific and technical instruments company's stock after acquiring an additional 6,529 shares during the period. Robeco Institutional Asset Management B.V. owned approximately 0.20% of Garmin worth $81,883,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Kestra Private Wealth Services LLC raised its position in shares of Garmin by 18.7% in the first quarter. Kestra Private Wealth Services LLC now owns 8,559 shares of the scientific and technical instruments company's stock valued at $1,858,000 after buying an additional 1,347 shares in the last quarter. Concurrent Investment Advisors LLC raised its position in shares of Garmin by 23.4% in the first quarter. Concurrent Investment Advisors LLC now owns 2,304 shares of the scientific and technical instruments company's stock valued at $500,000 after buying an additional 437 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Garmin by 46.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 89,715 shares of the scientific and technical instruments company's stock valued at $19,480,000 after buying an additional 28,543 shares in the last quarter. Acadian Asset Management LLC raised its position in shares of Garmin by 7.2% in the first quarter. Acadian Asset Management LLC now owns 75,428 shares of the scientific and technical instruments company's stock valued at $16,368,000 after buying an additional 5,089 shares in the last quarter. Finally, First Hawaiian Bank acquired a new stake in shares of Garmin in the first quarter valued at approximately $1,649,000. 81.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Garmin Price Performance

Shares of GRMN opened at $257.61 on Friday. The firm has a 50 day simple moving average of $235.59 and a two-hundred day simple moving average of $214.64. The company has a market cap of $49.59 billion, a P/E ratio of 31.76, a P/E/G ratio of 2.80 and a beta of 0.98. Garmin Ltd. has a one year low of $160.94 and a one year high of $258.42.

Garmin (NYSE:GRMN - Get Free Report) last announced its quarterly earnings results 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. The company had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.68 billion. Garmin had a net margin of 23.21% and a return on equity of 20.00%. The company's revenue for the quarter was up 20.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.58 earnings per share. 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 Activity

In other news, insider Cheng-Wei Wang sold 10,202 shares of the company'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 completion of the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 15.38% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.