Strong Tower Advisory Services Buys 142 Shares of Garmin Ltd. $GRMN

Strong Tower Advisory Services lifted its stake in Garmin Ltd. (NYSE:GRMN) by 0.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,895 shares of the scientific and technical instruments company’s stock after purchasing an additional 142 shares during the quarter. Strong Tower Advisory Services’ holdings in Garmin were worth $3,526,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in GRMN. Brighton Jones LLC boosted its position in shares of Garmin by 31.3% in the 4th quarter. Brighton Jones LLC now owns 1,943 shares of the scientific and technical instruments company’s stock worth $401,000 after purchasing an additional 463 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in Garmin by 49.1% in the 1st quarter. Farther Finance Advisors LLC now owns 1,458 shares of the scientific and technical instruments company’s stock worth $317,000 after acquiring an additional 480 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new position in Garmin in the 1st quarter worth approximately $721,000. GAMMA Investing LLC raised its holdings in Garmin by 15.8% in the 1st quarter. GAMMA Investing LLC now owns 4,078 shares of the scientific and technical instruments company’s stock worth $885,000 after acquiring an additional 557 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in Garmin by 1.7% in the 1st quarter. Assenagon Asset Management S.A. now owns 15,294 shares of the scientific and technical instruments company’s stock worth $3,321,000 after acquiring an additional 258 shares during the last quarter. 81.60% of the stock is owned by institutional investors.

Garmin Trading Down 3.2%

Shares of GRMN opened at $248.18 on Friday. The firm has a market cap of $47.77 billion, a PE ratio of 30.60, a P/E/G ratio of 2.81 and a beta of 0.98. The firm has a fifty day simple moving average of $238.90 and a two-hundred day simple moving average of $216.49. Garmin Ltd. has a 1-year low of $160.95 and a 1-year high of $261.69.

Garmin (NYSE:GRMN) last posted its quarterly earnings data on Wednesday, July 30th. The scientific and technical instruments company reported $2.17 EPS for the quarter, topping the consensus estimate of $1.90 by $0.27. The firm had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.68 billion. Garmin had a return on equity of 20.00% and a net margin of 23.21%.Garmin’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, research analysts forecast that Garmin Ltd. will post 7.8 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Insider Activity at Garmin

In other 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 value of $2,371,760.96. Following the completion of the sale, 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 transaction was disclosed in a document filed with the SEC, which is available at this link. 15.38% of the stock is owned by company insiders.

Garmin 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.