Edmond DE Rothschild Holding S.A. Acquires New Position in Garmin Ltd. $GRMN

Edmond DE Rothschild Holding S.A. acquired a new stake in Garmin Ltd. (NYSE:GRMN) during the second quarter, Holdings Channel.com reports. The institutional investor acquired 352 shares of the scientific and technical instruments company’s stock, valued at approximately $73,000.

A number of other large investors have also modified their holdings of GRMN. Fulton Bank N.A. lifted its holdings in shares of Garmin by 2.6% in the 2nd quarter. Fulton Bank N.A. now owns 1,883 shares of the scientific and technical instruments company’s stock valued at $393,000 after buying an additional 47 shares during the period. Arrow Investment Advisors LLC raised its position in Garmin by 3.6% in the second quarter. Arrow Investment Advisors LLC now owns 1,412 shares of the scientific and technical instruments company’s stock worth $295,000 after acquiring an additional 49 shares in the last quarter. Curbstone Financial Management Corp lifted its holdings in Garmin by 1.3% in the second quarter. Curbstone Financial Management Corp now owns 3,936 shares of the scientific and technical instruments company’s stock valued at $822,000 after acquiring an additional 50 shares during the period. MassMutual Private Wealth & Trust FSB boosted its position in shares of Garmin by 7.1% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 783 shares of the scientific and technical instruments company’s stock worth $163,000 after purchasing an additional 52 shares in the last quarter. Finally, SOA Wealth Advisors LLC. boosted its position in shares of Garmin by 27.5% during the 2nd quarter. SOA Wealth Advisors LLC. now owns 269 shares of the scientific and technical instruments company’s stock worth $56,000 after purchasing an additional 58 shares in the last quarter. 81.60% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on GRMN. Barclays increased their price target on shares of Garmin from $167.00 to $208.00 and gave the company an “underweight” rating in a report on Thursday, October 30th. Weiss Ratings restated a “buy (b)” rating on shares of Garmin in a research report on Wednesday, October 8th. Morgan Stanley lifted their price target on shares of Garmin from $193.00 to $195.00 and gave the company an “underweight” rating in a research report on Thursday, October 30th. Finally, Tigress Financial boosted their price target on Garmin from $285.00 to $305.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, September 30th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Garmin currently has a consensus rating of “Hold” and a consensus price target of $239.50.

Garmin Price Performance

GRMN stock opened at $194.83 on Friday. The company’s 50 day simple moving average is $226.92 and its 200-day simple moving average is $222.08. Garmin Ltd. has a 12 month low of $169.26 and a 12 month high of $261.69. The firm has a market capitalization of $37.47 billion, a PE ratio of 23.99, a P/E/G ratio of 2.41 and a beta of 1.01.

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

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.