BLI Banque de Luxembourg Investments Takes $3.08 Million Position in Garmin Ltd. $GRMN

BLI Banque de Luxembourg Investments purchased a new position in Garmin Ltd. (NYSE:GRMN) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 14,800 shares of the scientific and technical instruments company’s stock, valued at approximately $3,083,000.

Several other institutional investors have also bought and sold shares of GRMN. Andra AP fonden grew its stake in Garmin by 87.2% in the 2nd quarter. Andra AP fonden now owns 67,000 shares of the scientific and technical instruments company’s stock valued at $13,984,000 after buying an additional 31,200 shares in the last quarter. First Horizon Advisors Inc. boosted its holdings in shares of Garmin by 4.2% in the second quarter. First Horizon Advisors Inc. now owns 121,552 shares of the scientific and technical instruments company’s stock worth $25,370,000 after acquiring an additional 4,943 shares during the period. EFG Asset Management Americas Corp. boosted its holdings in shares of Garmin by 34.1% in the second quarter. EFG Asset Management Americas Corp. now owns 10,455 shares of the scientific and technical instruments company’s stock worth $2,182,000 after acquiring an additional 2,659 shares during the period. Vanguard Group Inc. grew its position in shares of Garmin by 6.9% in the second quarter. Vanguard Group Inc. now owns 19,698,329 shares of the scientific and technical instruments company’s stock valued at $4,111,435,000 after purchasing an additional 1,273,163 shares in the last quarter. Finally, Jefferies Financial Group Inc. raised its stake in shares of Garmin by 121.2% during the 2nd quarter. Jefferies Financial Group Inc. now owns 37,699 shares of the scientific and technical instruments company’s stock valued at $7,869,000 after purchasing an additional 20,659 shares during the period. Hedge funds and other institutional investors own 81.60% of the company’s stock.

Garmin Trading Up 0.5%

GRMN stock opened at $195.72 on Monday. The company’s 50 day moving average is $226.13 and its 200 day moving average is $222.37. The stock has a market cap of $37.64 billion, a price-to-earnings ratio of 24.10, a price-to-earnings-growth ratio of 2.41 and a beta of 1.01. Garmin Ltd. has a 1-year low of $169.26 and a 1-year high of $261.69.

Garmin (NYSE:GRMN) last released its quarterly earnings results on Wednesday, October 29th. The scientific and technical instruments company reported $1.99 EPS for the quarter, hitting analysts’ consensus estimates of $1.99. The business 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%. The business’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.99 EPS. Garmin has set its FY 2025 guidance at 8.150-8.150 EPS. As a group, sell-side analysts forecast that Garmin Ltd. will post 7.8 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have commented on GRMN shares. Barclays raised their target price on Garmin from $167.00 to $208.00 and gave the stock an “underweight” rating in a research note on Thursday, October 30th. Morgan Stanley raised their price objective on shares of Garmin from $193.00 to $195.00 and gave the company an “underweight” rating in a research report on Thursday, October 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Garmin in a research note on Wednesday, October 8th. Finally, Tigress Financial increased 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. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target 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.