Kwmg LLC Acquires 184 Shares of Garmin Ltd. $GRMN

Kwmg LLC grew its holdings in Garmin Ltd. (NYSE:GRMN) by 14.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,492 shares of the scientific and technical instruments company’s stock after purchasing an additional 184 shares during the period. Kwmg LLC’s holdings in Garmin were worth $311,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in GRMN. Kestra Private Wealth Services LLC increased its stake in Garmin by 18.7% in the 1st 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 Garmin by 23.4% in the 1st quarter. Concurrent Investment Advisors LLC now owns 2,304 shares of the scientific and technical instruments company’s stock worth $500,000 after acquiring an additional 437 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position 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 worth $19,480,000 after acquiring an additional 28,543 shares during the period. Acadian Asset Management LLC raised 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 bought a new stake in shares of Garmin during the first quarter valued at approximately $1,649,000. 81.60% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Garmin news, CFO Douglas G. Boessen sold 1,859 shares of Garmin stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $215.00, for a total transaction of $399,685.00. Following the completion of the sale, the chief financial officer owned 29,146 shares of the company’s stock, valued at approximately $6,266,390. The trade was a 6.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Cheng-Wei Wang sold 10,202 shares of the business’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 sale, the insider owned 36,092 shares in the company, valued at approximately $8,390,668.16. The trade was a 22.04% decrease in their position. The disclosure for this sale can be found here. Company insiders own 19.54% of the company’s stock.

Garmin Stock Up 0.5%

Shares of Garmin stock opened at $236.27 on Tuesday. The company has a 50 day moving average price of $232.66 and a 200 day moving average price of $212.92. The firm has a market capitalization of $45.48 billion, a P/E ratio of 29.13, a PEG ratio of 2.58 and a beta of 1.00. Garmin Ltd. has a 52 week low of $160.94 and a 52 week high of $246.50.

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

Analyst Ratings Changes

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

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.