National Pension Service Grows Stock Position in Garmin Ltd. $GRMN

National Pension Service boosted its holdings in Garmin Ltd. (NYSE:GRMN) by 0.6% during the second quarter, Holdings Channel reports. The institutional investor owned 273,864 shares of the scientific and technical instruments company’s stock after buying an additional 1,724 shares during the period. National Pension Service’s holdings in Garmin were worth $57,161,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of GRMN. Kestra Private Wealth Services LLC boosted its holdings in shares of Garmin by 18.7% in the 1st 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 purchasing an additional 1,347 shares during the last quarter. Andra AP fonden raised its position in shares of Garmin by 87.2% in the 2nd quarter. Andra AP fonden now owns 67,000 shares of the scientific and technical instruments company’s stock worth $13,984,000 after buying an additional 31,200 shares during the period. First Horizon Advisors Inc. boosted its holdings in Garmin by 4.2% in the second quarter. First Horizon Advisors Inc. now owns 121,552 shares of the scientific and technical instruments company’s stock valued at $25,370,000 after acquiring an additional 4,943 shares during the last quarter. EFG Asset Management North America Corp. grew its position in Garmin by 35.1% during the second quarter. EFG Asset Management North America Corp. now owns 13,008 shares of the scientific and technical instruments company’s stock valued at $2,714,000 after acquiring an additional 3,383 shares during the period. Finally, Atlantic Union Bankshares Corp increased its stake in Garmin by 5.5% during the second quarter. Atlantic Union Bankshares Corp now owns 45,036 shares of the scientific and technical instruments company’s stock worth $9,400,000 after acquiring an additional 2,340 shares during the last quarter. Institutional investors and hedge funds own 81.60% of the company’s stock.

Wall Street Analyst Weigh In

GRMN has been the topic of several research analyst reports. Barclays lifted their price objective on Garmin from $167.00 to $208.00 and gave the company an “underweight” rating in a research note on Thursday, October 30th. Morgan Stanley boosted their price objective on shares of Garmin from $193.00 to $195.00 and gave the stock an “underweight” rating in a research note on Thursday, October 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Garmin in a research report on Wednesday, October 8th. Tigress Financial lifted their target price on shares of Garmin from $285.00 to $305.00 and gave the company a “strong-buy” rating in a report on Tuesday, September 30th. Finally, JPMorgan Chase & Co. increased 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. 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 assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $239.50.

Garmin Stock Performance

Shares of NYSE GRMN opened at $195.18 on Friday. Garmin Ltd. has a 1 year low of $169.26 and a 1 year high of $261.69. The stock’s 50-day simple moving average is $236.07 and its 200-day simple moving average is $222.08. The firm has a market cap of $37.54 billion, a price-to-earnings ratio of 24.04, a PEG ratio of 2.41 and a beta of 1.01.

Garmin (NYSE:GRMN) last issued its quarterly earnings data on Wednesday, October 29th. The scientific and technical instruments company reported $1.99 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.99. Garmin had a return on equity of 19.42% and a net margin of 22.63%.The firm had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.78 billion. During the same quarter last year, the firm earned $1.99 EPS. Garmin’s quarterly revenue was up 11.7% on a year-over-year basis. Garmin has set its FY 2025 guidance at 8.150-8.150 EPS. As a group, research analysts predict that Garmin Ltd. will post 7.8 EPS for the current year.

Insider Transactions at Garmin

In related 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 value of $2,371,760.96. Following the sale, the insider directly owned 36,092 shares of the company’s stock, valued at $8,390,668.16. This represents a 22.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 19.54% of the stock is owned by corporate insiders.

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.