New York Life Investment Management LLC Increases Stock Holdings in Garmin Ltd. $GRMN

New York Life Investment Management LLC lifted its position in Garmin Ltd. (NYSE:GRMN) by 2.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 21,564 shares of the scientific and technical instruments company’s stock after purchasing an additional 523 shares during the quarter. New York Life Investment Management LLC’s holdings in Garmin were worth $4,501,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Garmin by 2.0% during the first quarter. Vanguard Group Inc. now owns 18,425,166 shares of the scientific and technical instruments company’s stock worth $4,000,656,000 after buying an additional 357,458 shares during the period. Invesco Ltd. boosted its position in shares of Garmin by 9.0% during the 1st quarter. Invesco Ltd. now owns 1,862,153 shares of the scientific and technical instruments company’s stock worth $404,329,000 after purchasing an additional 153,267 shares during the period. AQR Capital Management LLC boosted its position in shares of Garmin by 79.3% during the 1st quarter. AQR Capital Management LLC now owns 1,585,170 shares of the scientific and technical instruments company’s stock worth $340,574,000 after purchasing an additional 700,967 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Garmin by 21.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,210,827 shares of the scientific and technical instruments company’s stock worth $262,907,000 after purchasing an additional 211,731 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Garmin by 0.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 892,606 shares of the scientific and technical instruments company’s stock worth $193,812,000 after purchasing an additional 2,768 shares during the period. Hedge funds and other institutional investors own 81.60% of the company’s stock.

Insider Buying and Selling at Garmin

In other news, insider Cheng-Wei Wang sold 10,202 shares of the firm’s stock in a transaction 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 sale, the insider directly owned 36,092 shares in the company, valued at approximately $8,390,668.16. This trade represents a 22.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 15.38% of the company’s stock.

Analyst Upgrades and Downgrades

GRMN has been the subject of a number of research analyst reports. Tigress Financial increased their price objective on shares of Garmin from $285.00 to $305.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, September 30th. Barclays increased their price objective on shares of Garmin from $167.00 to $208.00 and gave the stock an “underweight” rating in a research report on Thursday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Garmin in a research report on Wednesday, October 8th. JPMorgan Chase & Co. increased their price objective on shares of Garmin from $215.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, July 17th. Finally, 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 note on Thursday. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $239.50.

Garmin Stock Performance

NYSE GRMN opened at $215.23 on Friday. The firm has a 50 day simple moving average of $242.76 and a 200-day simple moving average of $221.31. Garmin Ltd. has a one year low of $169.26 and a one year high of $261.69. The firm has a market cap of $41.43 billion, a price-to-earnings ratio of 26.51, a PEG ratio of 2.41 and a beta of 0.98.

Garmin (NYSE:GRMN) last posted its quarterly earnings data on Wednesday, October 29th. The scientific and technical instruments company reported $1.99 EPS for the quarter, meeting the consensus estimate of $1.99. Garmin had a net margin of 22.63% and a return on equity of 19.42%. The business had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.78 billion. During the same quarter last year, the firm posted $1.99 earnings per share. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. Garmin has set its FY 2025 guidance at 8.150-8.150 EPS. Equities analysts predict that Garmin Ltd. will post 7.8 EPS for the current fiscal year.

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.