Vanguard Group Inc. Purchases 1,273,163 Shares of Garmin Ltd. $GRMN

Vanguard Group Inc. grew its holdings in Garmin Ltd. (NYSE:GRMN) by 6.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 19,698,329 shares of the scientific and technical instruments company’s stock after purchasing an additional 1,273,163 shares during the quarter. Vanguard Group Inc. owned about 10.23% of Garmin worth $4,111,435,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Geode Capital Management LLC lifted its holdings in shares of Garmin by 1.3% during the second quarter. Geode Capital Management LLC now owns 4,606,511 shares of the scientific and technical instruments company’s stock worth $958,405,000 after buying an additional 59,321 shares during the last quarter. Invesco Ltd. grew its stake in shares of Garmin by 9.0% in the first quarter. Invesco Ltd. now owns 1,862,153 shares of the scientific and technical instruments company’s stock worth $404,329,000 after acquiring an additional 153,267 shares during the last quarter. AQR Capital Management LLC increased its position in Garmin by 79.3% during the first 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 acquiring an additional 700,967 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Garmin by 21.2% during the first 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 acquiring an additional 211,731 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in 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 valued at $193,812,000 after purchasing an additional 2,768 shares during the last quarter. Institutional investors and hedge funds own 81.60% of the company’s stock.

Garmin Stock Down 0.1%

NYSE:GRMN opened at $189.71 on Thursday. The firm has a market capitalization of $36.49 billion, a PE ratio of 23.36, a price-to-earnings-growth ratio of 2.41 and a beta of 1.01. Garmin Ltd. has a 12-month low of $169.26 and a 12-month high of $261.69. The firm has a 50-day moving average price of $232.30 and a 200 day moving average price of $222.18.

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

Insider Buying and Selling at Garmin

In other news, insider Cheng-Wei Wang sold 10,202 shares of the business’s stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $232.48, for a total value of $2,371,760.96. Following the transaction, the insider directly owned 36,092 shares of the company’s stock, valued at $8,390,668.16. The trade was a 22.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 15.38% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on GRMN shares. Weiss Ratings restated a “buy (b)” rating on shares of Garmin in a report on Wednesday, October 8th. Tigress Financial increased their target price on shares of Garmin from $285.00 to $305.00 and gave the company a “strong-buy” rating in a research note on Tuesday, September 30th. Barclays lifted 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. Finally, Morgan Stanley upped their price target on Garmin from $193.00 to $195.00 and gave the company an “underweight” rating in a report on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $239.50.

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.