US Bancorp DE decreased its holdings in Garmin Ltd. (NYSE:GRMN - Free Report) by 17.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,535 shares of the scientific and technical instruments company's stock after selling 2,016 shares during the quarter. US Bancorp DE's holdings in Garmin were worth $1,990,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Garmin by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 18,425,166 shares of the scientific and technical instruments company's stock valued at $4,000,656,000 after buying an additional 357,458 shares during the period. Invesco Ltd. increased its position in Garmin by 9.0% during the 1st quarter. Invesco Ltd. now owns 1,862,153 shares of the scientific and technical instruments company's stock worth $404,329,000 after purchasing an additional 153,267 shares in the last quarter. AQR Capital Management LLC increased its position in Garmin by 79.3% during the 1st quarter. AQR Capital Management LLC now owns 1,585,170 shares of the scientific and technical instruments company's stock worth $340,574,000 after purchasing an additional 700,967 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Garmin by 21.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,210,827 shares of the scientific and technical instruments company's stock worth $262,907,000 after purchasing an additional 211,731 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Garmin by 0.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 892,606 shares of the scientific and technical instruments company's stock worth $193,812,000 after purchasing an additional 2,768 shares in the last quarter. Hedge funds and other institutional investors own 81.60% of the company's stock.
Garmin Trading Up 0.1%
Garmin stock opened at $249.51 on Thursday. The stock has a market cap of $48.03 billion, a P/E ratio of 30.77, a price-to-earnings-growth ratio of 2.73 and a beta of 0.98. The stock has a 50 day moving average of $240.23 and a 200-day moving average of $217.20. Garmin Ltd. has a 52 week low of $160.95 and a 52 week high of $261.69.
Garmin (NYSE:GRMN - Get Free Report) last released its 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. The company 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 business's revenue was up 20.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.58 EPS. Garmin has set its FY 2025 guidance at 8.000-8.000 EPS. As a group, equities analysts predict that Garmin Ltd. will post 7.8 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
GRMN has been the subject of a number of research analyst reports. Tigress Financial increased their target price on shares of Garmin from $285.00 to $305.00 and gave the stock a "strong-buy" rating in a research report on Tuesday, September 30th. Barclays reissued 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. JPMorgan Chase & Co. increased their target price on shares of Garmin from $215.00 to $250.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. Morgan Stanley increased their target price on shares of Garmin from $186.00 to $193.00 and gave the stock an "underweight" rating in a research report on Friday, September 19th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Garmin in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Garmin presently has a consensus rating of "Hold" and an average price target of $228.75.
Check Out Our Latest Report on GRMN
Insider Activity at Garmin
In other 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 in the company, valued at approximately $8,390,668.16. This represents a 22.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 15.38% of the company's stock.
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.
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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).
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