2,710 Shares in Garmin Ltd. $GRMN Acquired by R Squared Ltd

R Squared Ltd bought a new stake in shares of Garmin Ltd. (NYSE:GRMN) during the 2nd quarter, HoldingsChannel reports. The firm bought 2,710 shares of the scientific and technical instruments company’s stock, valued at approximately $566,000.

Several other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of Garmin by 2.0% during the first 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 last quarter. Invesco Ltd. boosted its holdings in shares of 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 valued at $404,329,000 after acquiring an additional 153,267 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of Garmin by 79.3% in the first 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 acquiring an additional 700,967 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Garmin by 21.2% during the first 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 valued at $262,907,000 after purchasing an additional 211,731 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Garmin by 0.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 892,606 shares of the scientific and technical instruments company’s stock valued at $193,812,000 after purchasing an additional 2,768 shares during the period. Hedge funds and other institutional investors own 81.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on GRMN shares. 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. Barclays reiterated an “underweight” rating and set a $167.00 price objective (up previously from $152.00) on shares of Garmin in a research report on Wednesday, July 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Garmin in a report on Wednesday, October 8th. JPMorgan Chase & Co. upped their price target on shares of Garmin from $215.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday, July 17th. Finally, Morgan Stanley boosted their target price on shares of Garmin from $186.00 to $193.00 and gave the company an “underweight” rating in a research report on Friday, September 19th. One investment 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 currently has a consensus rating of “Hold” and a consensus price target of $228.75.

Garmin Trading Up 1.1%

Shares of NYSE:GRMN opened at $250.31 on Friday. The stock has a 50 day moving average of $242.21 and a 200 day moving average of $219.25. The company has a market cap of $48.18 billion, a PE ratio of 30.86, a price-to-earnings-growth ratio of 2.71 and a beta of 0.98. Garmin Ltd. has a 12-month low of $161.28 and a 12-month high of $261.69.

Garmin (NYSE:GRMN) last released its earnings results 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 company had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.68 billion. Garmin had a net margin of 23.21% and a return on equity of 20.00%. The firm’s revenue was up 20.4% compared to the same quarter last year. During the same quarter last year, the business earned $1.58 EPS. Garmin has set its FY 2025 guidance at 8.000-8.000 EPS. Equities research analysts predict that Garmin Ltd. will post 7.8 earnings per share for the current fiscal year.

Insider Transactions at Garmin

In other Garmin news, insider Cheng-Wei Wang sold 10,202 shares of the firm’s stock in a transaction dated 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 sale, the insider directly owned 36,092 shares of the company’s stock, valued at $8,390,668.16. This trade represents a 22.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 15.38% of the company’s stock.

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.