MassMutual Private Wealth & Trust FSB Grows Position in Garmin Ltd. $GRMN

MassMutual Private Wealth & Trust FSB boosted its stake in Garmin Ltd. (NYSE:GRMN) by 7.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 783 shares of the scientific and technical instruments company’s stock after purchasing an additional 52 shares during the quarter. MassMutual Private Wealth & Trust FSB’s holdings in Garmin were worth $163,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of GRMN. Kestra Private Wealth Services LLC grew its stake in Garmin by 18.7% during the first quarter. Kestra Private Wealth Services LLC now owns 8,559 shares of the scientific and technical instruments company’s stock worth $1,858,000 after buying an additional 1,347 shares during the period. Concurrent Investment Advisors LLC grew its stake in shares of Garmin by 23.4% during the first quarter. Concurrent Investment Advisors LLC now owns 2,304 shares of the scientific and technical instruments company’s stock valued at $500,000 after acquiring an additional 437 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Garmin by 46.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 89,715 shares of the scientific and technical instruments company’s stock valued at $19,480,000 after acquiring an additional 28,543 shares in the last quarter. Acadian Asset Management LLC grew its stake in shares of Garmin by 7.2% during the first quarter. Acadian Asset Management LLC now owns 75,428 shares of the scientific and technical instruments company’s stock valued at $16,368,000 after acquiring an additional 5,089 shares in the last quarter. Finally, First Hawaiian Bank acquired a new stake in shares of Garmin during the first quarter valued at about $1,649,000. 81.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. JPMorgan Chase & Co. lifted their price objective on Garmin from $215.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday, July 17th. Morgan Stanley lifted their price objective on Garmin from $186.00 to $193.00 and gave the stock an “underweight” rating in a report on Friday. Finally, Barclays reaffirmed an “underweight” rating and issued a $167.00 price target (up from $152.00) on shares of Garmin in a report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $223.75.

Garmin Stock Down 0.9%

GRMN stock opened at $235.10 on Friday. Garmin Ltd. has a fifty-two week low of $160.94 and a fifty-two week high of $246.50. The firm’s 50-day simple moving average is $232.28 and its 200 day simple moving average is $212.95. The stock has a market cap of $45.25 billion, a PE ratio of 28.99, a price-to-earnings-growth ratio of 2.61 and a beta of 1.00.

Garmin (NYSE:GRMN) last released its quarterly earnings data on Wednesday, July 30th. The scientific and technical instruments company reported $2.17 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.27. Garmin had a net margin of 23.21% and a return on equity of 20.00%. The business had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.68 billion. During the same quarter last year, the company earned $1.58 EPS. The company’s revenue for the quarter was up 20.4% compared to the same quarter last year. Garmin has set its FY 2025 guidance at 8.000-8.000 EPS. Equities analysts forecast that Garmin Ltd. will post 7.8 EPS for the current fiscal year.

Insider Activity

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 shares were sold at an average price of $232.48, for a total value of $2,371,760.96. Following the completion of the transaction, the insider directly owned 36,092 shares in the company, valued at $8,390,668.16. This trade represents a 22.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Douglas G. Boessen sold 1,859 shares of the company’s stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $215.00, for a total transaction of $399,685.00. Following the completion of the transaction, the chief financial officer owned 29,146 shares in the company, valued at approximately $6,266,390. This represents a 6.00% decrease in their position. The disclosure for this sale can be found here. 15.38% of the stock is currently owned by company insiders.

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.