Mather Group LLC. Has $773,000 Stock Holdings in Garmin Ltd. $GRMN

Mather Group LLC. increased its holdings in Garmin Ltd. (NYSE:GRMN) by 4.1% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 3,705 shares of the scientific and technical instruments company’s stock after buying an additional 145 shares during the period. Mather Group LLC.’s holdings in Garmin were worth $773,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Groupe la Francaise purchased a new stake in shares of Garmin in the 1st quarter valued at $33,000. TFC Financial Management Inc. increased its stake in shares of Garmin by 1,633.3% in the first quarter. TFC Financial Management Inc. now owns 156 shares of the scientific and technical instruments company’s stock worth $34,000 after purchasing an additional 147 shares in the last quarter. Wayfinding Financial LLC bought a new stake in shares of Garmin in the first quarter worth about $34,000. Zions Bancorporation National Association UT purchased a new position in shares of Garmin in the 1st quarter worth approximately $38,000. Finally, Garde Capital Inc. bought a new position in shares of Garmin in the first quarter worth about $40,000. 81.60% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

GRMN has been the subject of a number of research analyst reports. JPMorgan Chase & Co. raised their price target on shares of Garmin from $215.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday, July 17th. Morgan Stanley upped their price objective on shares of Garmin from $186.00 to $193.00 and gave the company an “underweight” rating in a report on Friday, September 19th. Finally, Barclays restated an “underweight” rating and set a $167.00 target price (up from $152.00) on shares of Garmin in a report on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $223.75.

Garmin Price Performance

Shares of NYSE:GRMN opened at $236.49 on Friday. Garmin Ltd. has a 12 month low of $160.94 and a 12 month high of $246.50. The business has a 50-day moving average of $233.62 and a two-hundred day moving average of $213.40. The firm has a market capitalization of $45.52 billion, a PE ratio of 29.16, a P/E/G ratio of 2.59 and a beta of 1.00.

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. Garmin had a net margin of 23.21% and a return on equity of 20.00%. The company had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter in the previous year, the firm earned $1.58 EPS. The company’s revenue was up 20.4% on a year-over-year basis. 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 year.

Insiders Place Their Bets

In other Garmin news, insider Cheng-Wei Wang sold 10,202 shares of the stock in a transaction that occurred on 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 completion of the sale, the insider owned 36,092 shares in the company, valued at $8,390,668.16. This represents a 22.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Douglas G. Boessen sold 1,859 shares of the stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $215.00, for a total transaction of $399,685.00. Following the transaction, the chief financial officer owned 29,146 shares in the company, valued at approximately $6,266,390. This trade represents a 6.00% decrease in their position. The disclosure for this sale can be found here. Company insiders own 15.38% of the company’s stock.

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.