Asset Management One Co. Ltd. Raises Holdings in Garmin Ltd. $GRMN

Asset Management One Co. Ltd. grew its holdings in Garmin Ltd. (NYSE:GRMN) by 6.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 73,914 shares of the scientific and technical instruments company’s stock after buying an additional 4,769 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Garmin were worth $18,199,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Mather Group LLC. lifted its holdings in Garmin by 1.2% in the third quarter. Mather Group LLC. now owns 3,749 shares of the scientific and technical instruments company’s stock valued at $923,000 after acquiring an additional 44 shares during the period. Fulton Bank N.A. increased its holdings in shares of Garmin by 2.6% in the 2nd quarter. Fulton Bank N.A. now owns 1,883 shares of the scientific and technical instruments company’s stock valued at $393,000 after purchasing an additional 47 shares in the last quarter. Smith Moore & CO. lifted its stake in shares of Garmin by 4.3% in the second quarter. Smith Moore & CO. now owns 1,151 shares of the scientific and technical instruments company’s stock valued at $240,000 after purchasing an additional 47 shares during the period. BSW Wealth Partners boosted its holdings in Garmin by 2.9% during the third quarter. BSW Wealth Partners now owns 1,724 shares of the scientific and technical instruments company’s stock worth $425,000 after buying an additional 48 shares in the last quarter. Finally, Arrow Investment Advisors LLC grew its position in Garmin by 3.6% during the second quarter. Arrow Investment Advisors LLC now owns 1,412 shares of the scientific and technical instruments company’s stock worth $295,000 after buying an additional 49 shares during the period. 81.60% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Garmin news, CFO Douglas G. Boessen sold 2,485 shares of the firm’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $206.26, for a total value of $512,556.10. Following the sale, the chief financial officer directly owned 28,916 shares of the company’s stock, valued at approximately $5,964,214.16. This trade represents a 7.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Clifton A. Pemble sold 10,431 shares of the firm’s stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $206.23, for a total transaction of $2,151,185.13. Following the completion of the sale, the chief executive officer directly owned 135,180 shares in the company, valued at $27,878,171.40. This represents a 7.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 19.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on GRMN. Tigress Financial reiterated a “strong-buy” rating on shares of Garmin in a research report on Friday, December 19th. Longbow Research raised Garmin from a “neutral” rating to a “buy” rating and set a $250.00 price objective for the company in a research note on Wednesday, December 3rd. Barclays boosted their target price on Garmin from $167.00 to $208.00 and gave the stock an “underweight” rating in a research report on Thursday, October 30th. Weiss Ratings restated a “buy (b)” rating on shares of Garmin in a research report on Wednesday, October 8th. Finally, Morgan Stanley lifted their price target on Garmin from $193.00 to $195.00 and gave the stock an “underweight” rating in a research note on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Garmin presently has a consensus rating of “Hold” and a consensus price target of $242.60.

Garmin Trading Up 0.7%

Garmin stock opened at $203.87 on Tuesday. The stock has a 50-day moving average price of $202.65 and a 200 day moving average price of $222.42. Garmin Ltd. has a 52 week low of $169.26 and a 52 week high of $261.69. The stock has a market cap of $39.21 billion, a PE ratio of 25.11, a P/E/G ratio of 2.14 and a beta of 1.00.

Garmin (NYSE:GRMN) last released its quarterly earnings results on Wednesday, October 29th. The scientific and technical instruments company reported $1.99 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.99. The company had revenue of $1.77 billion for 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 firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period last year, the company earned $1.99 EPS. Garmin has set its FY 2025 guidance at 8.150-8.150 EPS. On average, equities analysts predict that Garmin Ltd. will post 7.8 EPS for the current year.

Garmin Profile

Garmin Ltd. is a technology company best known for designing and manufacturing navigation, communication and information devices that leverage global positioning system (GPS) technology. The company serves a diverse set of markets including consumer fitness and wearables, automotive navigation, aviation avionics, marine electronics and outdoor handheld devices. Garmin’s products combine hardware, mapping and software services to deliver location-aware solutions for personal, recreational and professional uses.

Garmin’s product lineup includes wearable fitness and multisport watches (Forerunner, Fenix, Venu), cycling computers and accessories (Edge, Varia), handheld and handheld-mounted GPS devices for outdoor activities, automotive and portable navigation units, marine chartplotters and fishfinders, and certified avionics for fixed- and rotary-wing aircraft.