S Bank Fund Management Ltd acquired a new stake in Garmin Ltd. (NYSE:GRMN - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 3,811 shares of the scientific and technical instruments company's stock, valued at approximately $795,000.
A number of other large investors also recently modified their holdings of the company. Barlow Wealth Partners Inc. boosted its position in shares of Garmin by 1.2% in the second quarter. Barlow Wealth Partners Inc. now owns 73,408 shares of the scientific and technical instruments company's stock valued at $15,665,000 after acquiring an additional 896 shares during the period. Turtle Creek Wealth Advisors LLC lifted its position in Garmin by 10.5% during the second quarter. Turtle Creek Wealth Advisors LLC now owns 27,188 shares of the scientific and technical instruments company's stock valued at $5,675,000 after purchasing an additional 2,580 shares during the last quarter. Sagespring Wealth Partners LLC lifted its position in Garmin by 7.5% during the second quarter. Sagespring Wealth Partners LLC now owns 1,198 shares of the scientific and technical instruments company's stock valued at $250,000 after purchasing an additional 84 shares during the last quarter. Moran Wealth Management LLC lifted its position in Garmin by 35.8% during the second quarter. Moran Wealth Management LLC now owns 178,135 shares of the scientific and technical instruments company's stock valued at $37,180,000 after purchasing an additional 47,002 shares during the last quarter. Finally, Sequoia Financial Advisors LLC lifted its position in Garmin by 75.5% during the second quarter. Sequoia Financial Advisors LLC now owns 6,020 shares of the scientific and technical instruments company's stock valued at $1,256,000 after purchasing an additional 2,589 shares during the last quarter. 81.60% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
GRMN has been the topic of several research reports. Morgan Stanley lifted their price target on shares of Garmin from $186.00 to $193.00 and gave the stock an "underweight" rating in a research note on Friday, September 19th. Tigress Financial lifted their price target on shares of Garmin from $285.00 to $305.00 and gave the stock a "strong-buy" rating in a research note on Tuesday, September 30th. Barclays reaffirmed an "underweight" rating and issued a $167.00 target price (up from $152.00) on shares of Garmin in a research note on Wednesday, July 30th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Garmin in a research note on Wednesday, October 8th. 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 given a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $228.75.
Read Our Latest Stock Analysis on GRMN
Insider Transactions at Garmin
In related news, insider Cheng-Wei Wang sold 10,202 shares of the company's stock in a transaction dated 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 transaction, the insider owned 36,092 shares in the company, valued at $8,390,668.16. The trade was a 22.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 15.38% of the stock is currently owned by insiders.
Garmin Trading Up 0.1%
Shares of GRMN stock opened at $249.51 on Thursday. Garmin Ltd. has a 12 month low of $160.95 and a 12 month high of $261.69. The stock has a market cap of $48.03 billion, a PE ratio of 30.77, a price-to-earnings-growth ratio of 2.73 and a beta of 0.98. The company's fifty day moving average price is $240.23 and its 200-day moving average price is $217.20.
Garmin (NYSE:GRMN - Get Free Report) last announced its earnings results on Wednesday, July 30th. The scientific and technical instruments company reported $2.17 EPS for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $1.68 billion. During the same quarter in the previous year, the business posted $1.58 EPS. The company'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, sell-side analysts forecast that Garmin Ltd. will post 7.8 earnings per share for the current fiscal year.
Garmin Profile
(
Free Report)
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.
See Also
Want to see what other hedge funds are holding GRMN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Garmin Ltd. (NYSE:GRMN - Free Report).
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.
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