Garmin Ltd. $GRMN Position Boosted by Cresset Asset Management LLC

Cresset Asset Management LLC lifted its holdings in Garmin Ltd. (NYSE:GRMN) by 415.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,494 shares of the scientific and technical instruments company’s stock after purchasing an additional 4,429 shares during the period. Cresset Asset Management LLC’s holdings in Garmin were worth $1,147,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Brown Advisory Inc. increased its holdings in shares of Garmin by 1.4% in the second quarter. Brown Advisory Inc. now owns 13,305 shares of the scientific and technical instruments company’s stock valued at $2,777,000 after buying an additional 187 shares in the last quarter. Amundi raised its position in shares of Garmin by 138.0% during the second quarter. Amundi now owns 1,158,702 shares of the scientific and technical instruments company’s stock worth $247,255,000 after purchasing an additional 671,859 shares during the period. Marshall Wace LLP lifted its holdings in shares of Garmin by 292.1% during the second quarter. Marshall Wace LLP now owns 135,636 shares of the scientific and technical instruments company’s stock valued at $28,310,000 after purchasing an additional 101,043 shares during the last quarter. Great Diamond Partners LLC boosted its position in shares of Garmin by 9.4% in the 2nd quarter. Great Diamond Partners LLC now owns 10,587 shares of the scientific and technical instruments company’s stock valued at $2,210,000 after purchasing an additional 911 shares during the period. Finally, EverSource Wealth Advisors LLC increased its stake in Garmin by 107.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,733 shares of the scientific and technical instruments company’s stock worth $570,000 after purchasing an additional 1,414 shares in the last quarter. 81.60% of the stock is owned by institutional investors and hedge funds.

Garmin Stock Up 3.9%

Garmin stock opened at $210.06 on Thursday. Garmin Ltd. has a 12 month low of $169.26 and a 12 month high of $261.69. The stock has a market cap of $40.40 billion, a P/E ratio of 25.87, a P/E/G ratio of 2.29 and a beta of 1.01. The company’s fifty day simple moving average is $219.72 and its 200-day simple moving average is $222.17.

Garmin (NYSE:GRMN) last released its quarterly earnings data 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. Garmin had a return on equity of 19.42% and a net margin of 22.63%.The firm had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.78 billion. During the same quarter last year, the firm earned $1.99 earnings per share. The business’s revenue for the quarter was up 11.7% on a year-over-year basis. Garmin has set its FY 2025 guidance at 8.150-8.150 EPS. On average, equities research analysts expect that Garmin Ltd. will post 7.8 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have commented on GRMN shares. Barclays upped their price objective on shares of Garmin from $167.00 to $208.00 and gave the company an “underweight” rating in a research note on Thursday, October 30th. Longbow Research upgraded shares of Garmin from a “neutral” rating to a “buy” rating and set a $250.00 price target for the company in a research report on Wednesday, December 3rd. Tigress Financial raised their price objective 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. Weiss Ratings reissued a “buy (b)” rating on shares of Garmin in a research note on Wednesday, October 8th. Finally, Morgan Stanley raised their target price on Garmin from $193.00 to $195.00 and gave the stock an “underweight” rating in a research report on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Garmin presently has an average rating of “Hold” and an average price target of $241.60.

Garmin 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.