Joel Isaacson & Co. LLC Makes New Investment in Garmin Ltd. $GRMN

Joel Isaacson & Co. LLC acquired a new position in shares of Garmin Ltd. (NYSE:GRMN) during the 2nd quarter, Holdings Channel reports. The firm acquired 1,200 shares of the scientific and technical instruments company’s stock, valued at approximately $250,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Garmin by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 18,425,166 shares of the scientific and technical instruments company’s stock worth $4,000,656,000 after purchasing an additional 357,458 shares during the last quarter. Invesco Ltd. increased its holdings 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 during the last quarter. AQR Capital Management LLC increased its holdings 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 during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings 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 during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings 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 during the last quarter. 81.60% of the stock is currently owned by hedge funds and other institutional investors.

Garmin Price Performance

Shares of GRMN opened at $259.91 on Thursday. The company has a market cap of $50.03 billion, a P/E ratio of 32.05, a PEG ratio of 2.81 and a beta of 0.98. The stock has a fifty day moving average price of $237.56 and a 200 day moving average price of $216.00. Garmin Ltd. has a 12 month low of $160.95 and a 12 month high of $260.58.

Garmin (NYSE:GRMN) last issued its quarterly earnings data on Wednesday, July 30th. The scientific and technical instruments company reported $2.17 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.27. The firm had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.68 billion. Garmin had a return on equity of 20.00% and a net margin of 23.21%.The firm’s revenue was up 20.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.58 EPS. Garmin has set its FY 2025 guidance at 8.000-8.000 EPS. As a group, research analysts anticipate that Garmin Ltd. will post 7.8 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Cheng-Wei Wang sold 10,202 shares of the company’s stock in a transaction 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 $8,390,668.16. This represents a 22.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 15.38% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on GRMN. Weiss Ratings reiterated a “buy (b)” rating on shares of Garmin in a report on Wednesday. JPMorgan Chase & Co. boosted their price target on Garmin from $215.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, July 17th. Tigress Financial boosted their price target on Garmin from $285.00 to $305.00 and gave the company a “strong-buy” rating in a report on Tuesday, September 30th. Morgan Stanley boosted their price target on Garmin from $186.00 to $193.00 and gave the company an “underweight” rating in a report on Friday, September 19th. Finally, Barclays reiterated an “underweight” rating and issued a $167.00 price target (up from $152.00) on shares of Garmin in a report on Wednesday, July 30th. 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. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $228.75.

Garmin Company Profile

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.