Brighton Jones LLC Has $1.31 Million Position in Garmin Ltd. $GRMN

Brighton Jones LLC grew its holdings in Garmin Ltd. (NYSE:GRMN) by 187.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,269 shares of the scientific and technical instruments company’s stock after purchasing an additional 4,085 shares during the quarter. Brighton Jones LLC’s holdings in Garmin were worth $1,308,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in GRMN. Groupe la Francaise acquired a new stake in Garmin during the first quarter worth about $33,000. Wayfinding Financial LLC acquired a new position in shares of Garmin in the 1st quarter worth approximately $34,000. Zions Bancorporation National Association UT acquired a new position in shares of Garmin in the 1st quarter worth approximately $38,000. Olde Wealth Management LLC acquired a new position in shares of Garmin in the 1st quarter worth approximately $43,000. Finally, SOA Wealth Advisors LLC. boosted its holdings in shares of Garmin by 27.5% in the 2nd quarter. SOA Wealth Advisors LLC. now owns 269 shares of the scientific and technical instruments company’s stock worth $56,000 after acquiring an additional 58 shares in the last quarter. 81.60% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Garmin

In other news, insider Cheng-Wei Wang sold 10,202 shares of the firm’s stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $232.48, for a total transaction of $2,371,760.96. Following the transaction, the insider directly owned 36,092 shares of the company’s stock, valued at approximately $8,390,668.16. This trade represents a 22.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 15.38% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on GRMN. 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 research report on Thursday, July 17th. Weiss Ratings reissued a “buy (b)” rating on shares of Garmin in a report on Wednesday, October 8th. Morgan Stanley boosted their price target on shares of Garmin from $186.00 to $193.00 and gave the company an “underweight” rating in a report on Friday, September 19th. Tigress Financial upped their target price on shares of Garmin from $285.00 to $305.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, September 30th. Finally, Barclays restated an “underweight” rating and set a $167.00 price objective (up from $152.00) on shares of Garmin in a research note on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $228.75.

Garmin Stock Up 0.4%

Garmin stock opened at $251.57 on Tuesday. The stock has a market cap of $48.43 billion, a P/E ratio of 31.02, a P/E/G ratio of 2.74 and a beta of 0.98. Garmin Ltd. has a twelve month low of $163.11 and a twelve month high of $261.69. The company’s 50-day moving average price is $242.95 and its two-hundred day moving average price is $220.71.

Garmin (NYSE:GRMN) last released its quarterly earnings results on Wednesday, July 30th. The scientific and technical instruments company reported $2.17 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.27. The firm 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 business’s revenue was up 20.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.58 EPS. Garmin has set its FY 2025 guidance at 8.000-8.000 EPS. Equities analysts anticipate that Garmin Ltd. will post 7.8 earnings per share for the current fiscal year.

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.