Legacy Wealth Asset Management LLC Has $322,000 Stock Holdings in Garmin Ltd. $GRMN

Legacy Wealth Asset Management LLC increased its holdings in shares of Garmin Ltd. (NYSE:GRMN) by 16.1% during the second quarter, Holdings Channel.com reports. The fund owned 1,542 shares of the scientific and technical instruments company’s stock after purchasing an additional 214 shares during the quarter. Legacy Wealth Asset Management LLC’s holdings in Garmin were worth $322,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Groupe la Francaise bought a new position in Garmin during the first quarter worth about $33,000. TFC Financial Management Inc. increased its position in Garmin by 1,633.3% during the first quarter. TFC Financial Management Inc. now owns 156 shares of the scientific and technical instruments company’s stock worth $34,000 after acquiring an additional 147 shares during the period. Wayfinding Financial LLC bought a new position in Garmin during the first quarter worth about $34,000. Zions Bancorporation National Association UT bought a new position in Garmin during the first quarter worth about $38,000. Finally, Olde Wealth Management LLC bought a new position in Garmin during the first quarter worth about $43,000. 81.60% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Barclays reaffirmed an “underweight” rating and set a $167.00 price target (up from $152.00) on shares of Garmin in a research report on Wednesday, July 30th. Tigress Financial raised their price target on shares of Garmin from $285.00 to $305.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, September 30th. JPMorgan Chase & Co. raised their target price on shares of Garmin from $215.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, July 17th. Weiss Ratings reissued a “buy (b)” rating on shares of Garmin in a report on Wednesday, October 8th. Finally, Morgan Stanley raised their target price on shares of Garmin from $186.00 to $193.00 and gave the company an “underweight” rating in a report on Friday, September 19th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $228.75.

Garmin Stock Up 0.9%

GRMN stock opened at $251.49 on Wednesday. Garmin Ltd. has a 12 month low of $160.95 and a 12 month high of $261.69. The firm has a market cap of $48.41 billion, a P/E ratio of 31.01, a P/E/G ratio of 2.73 and a beta of 0.98. The company’s 50-day moving average price is $241.69 and its two-hundred day moving average price is $218.57.

Garmin (NYSE:GRMN) last announced its quarterly earnings results on Wednesday, July 30th. The scientific and technical instruments company reported $2.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.27. The company had revenue of $1.81 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the firm posted $1.58 EPS. Garmin has set its FY 2025 guidance at 8.000-8.000 EPS. Equities analysts predict that Garmin Ltd. will post 7.8 EPS for the current year.

Insider Activity

In related news, insider Cheng-Wei Wang sold 10,202 shares of Garmin 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 sale, the insider directly owned 36,092 shares of the company’s stock, valued at approximately $8,390,668.16. The trade was a 22.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 19.54% of the company’s stock.

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.