Rathbones Group PLC Acquires Shares of 1,508 Garmin Ltd. $GRMN

Rathbones Group PLC bought a new position in shares of Garmin Ltd. (NYSE:GRMN) in the 2nd quarter, Holdings Channel reports. The institutional investor bought 1,508 shares of the scientific and technical instruments company’s stock, valued at approximately $315,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Quaker Wealth Management LLC lifted its position in shares of Garmin by 200.0% during the 2nd quarter. Quaker Wealth Management LLC now owns 132 shares of the scientific and technical instruments company’s stock worth $28,000 after buying an additional 264 shares during the last quarter. Groupe la Francaise acquired a new position in Garmin during the first quarter worth about $33,000. Zions Bancorporation National Association UT acquired a new stake in shares of Garmin in the 1st quarter valued at approximately $38,000. SOA Wealth Advisors LLC. boosted its holdings 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 valued at $56,000 after acquiring an additional 58 shares in the last quarter. Finally, Harbour Investments Inc. grew its position in Garmin by 31.8% during the 1st quarter. Harbour Investments Inc. now owns 265 shares of the scientific and technical instruments company’s stock worth $58,000 after acquiring an additional 64 shares during the last quarter. Institutional investors own 81.60% of the company’s stock.

Garmin Stock Down 1.4%

Garmin stock opened at $199.85 on Wednesday. The company has a market capitalization of $38.44 billion, a PE ratio of 24.61, a PEG ratio of 2.41 and a beta of 1.01. Garmin Ltd. has a 12-month low of $169.26 and a 12-month high of $261.69. The firm’s fifty day moving average is $237.69 and its 200 day moving average is $222.44.

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

Insiders Place Their Bets

In other Garmin news, insider Cheng-Wei Wang sold 10,202 shares of the stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $232.48, for a total value of $2,371,760.96. Following the transaction, the insider owned 36,092 shares in the company, valued at approximately $8,390,668.16. This represents a 22.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 19.54% of the company’s stock.

Analyst Upgrades and Downgrades

GRMN has been the subject of several recent research reports. JPMorgan Chase & Co. upped their price objective on Garmin from $215.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, July 17th. Morgan Stanley raised their price target on shares of Garmin from $193.00 to $195.00 and gave the company an “underweight” rating in a research note on Thursday, October 30th. Barclays lifted their price target on shares of Garmin from $167.00 to $208.00 and gave the stock an “underweight” rating in a report on Thursday, October 30th. Tigress Financial increased their price objective on Garmin from $285.00 to $305.00 and gave the company a “strong-buy” rating in a report on Tuesday, September 30th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Garmin in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $239.50.

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.