Capital Fund Management S.A. Acquires 33,408 Shares of Garmin Ltd. $GRMN

Capital Fund Management S.A. lifted its stake in Garmin Ltd. (NYSE:GRMN) by 38.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 119,277 shares of the scientific and technical instruments company’s stock after acquiring an additional 33,408 shares during the period. Capital Fund Management S.A. owned approximately 0.06% of Garmin worth $24,895,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in GRMN. Quaker Wealth Management LLC increased its position in shares of Garmin by 200.0% during the second quarter. Quaker Wealth Management LLC now owns 132 shares of the scientific and technical instruments company’s stock valued at $28,000 after purchasing an additional 264 shares during the period. Groupe la Francaise acquired a new stake in Garmin during the first quarter worth $33,000. Zions Bancorporation National Association UT bought a new stake in Garmin in the 1st quarter valued at $38,000. Harbour Investments Inc. raised its stake in shares of Garmin by 31.8% in the 1st quarter. Harbour Investments Inc. now owns 265 shares of the scientific and technical instruments company’s stock valued at $58,000 after buying an additional 64 shares in the last quarter. Finally, SOA Wealth Advisors LLC. raised its stake 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 valued at $56,000 after buying an additional 58 shares in the last quarter. Institutional investors own 81.60% of the company’s stock.

Garmin Trading Up 1.0%

Shares of Garmin stock opened at $194.83 on Friday. The stock has a market capitalization of $37.47 billion, a price-to-earnings ratio of 23.99, a P/E/G ratio of 2.41 and a beta of 1.01. The firm’s 50-day moving average price is $226.92 and its two-hundred day moving average price is $222.08. Garmin Ltd. has a 1-year low of $169.26 and a 1-year high of $261.69.

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

Analyst Upgrades and Downgrades

GRMN has been the topic of several recent research reports. Tigress Financial lifted their target price on shares of Garmin from $285.00 to $305.00 and gave the company a “strong-buy” rating in a research report on Tuesday, September 30th. Barclays lifted their price objective on Garmin from $167.00 to $208.00 and gave the company an “underweight” rating in a report on Thursday, October 30th. Morgan Stanley upped their price objective on Garmin from $193.00 to $195.00 and gave the company an “underweight” rating in a research note on Thursday, October 30th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Garmin in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $239.50.

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.