1,956 Shares in Garmin Ltd. $GRMN Purchased by West Family Investments Inc.

West Family Investments Inc. purchased a new stake in shares of Garmin Ltd. (NYSE:GRMN) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,956 shares of the scientific and technical instruments company’s stock, valued at approximately $408,000.

Several other large investors have also recently added to or reduced their stakes in GRMN. Norges Bank bought a new stake in shares of Garmin during the second quarter valued at approximately $410,304,000. Vanguard Group Inc. boosted its stake in Garmin by 6.9% during the second quarter. Vanguard Group Inc. now owns 19,698,329 shares of the scientific and technical instruments company’s stock worth $4,111,435,000 after buying an additional 1,273,163 shares in the last quarter. AQR Capital Management LLC increased its holdings in Garmin by 79.3% in the 1st quarter. AQR Capital Management LLC now owns 1,585,170 shares of the scientific and technical instruments company’s stock valued at $340,574,000 after buying an additional 700,967 shares during the period. Nuveen LLC bought a new stake in Garmin in the 1st quarter valued at $78,900,000. Finally, Artisan Partners Limited Partnership raised its stake in shares of Garmin by 6.4% in the 2nd quarter. Artisan Partners Limited Partnership now owns 5,892,150 shares of the scientific and technical instruments company’s stock valued at $1,229,810,000 after buying an additional 356,161 shares in the last quarter. Institutional investors and hedge funds own 81.60% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on GRMN shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Garmin in a research report on Wednesday, October 8th. Barclays lifted their price objective on Garmin from $167.00 to $208.00 and gave the company an “underweight” rating in a report on Thursday, October 30th. Tigress Financial upped their price objective on Garmin from $285.00 to $305.00 and gave the company a “strong-buy” rating in a research note on Tuesday, September 30th. Finally, Morgan Stanley raised their target price on Garmin from $193.00 to $195.00 and gave the stock an “underweight” rating in a research report on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $239.50.

Garmin Price Performance

Shares of GRMN opened at $195.72 on Friday. The company has a market capitalization of $37.64 billion, a P/E ratio of 24.10, a PEG ratio of 2.41 and a beta of 1.01. Garmin Ltd. has a one year low of $169.26 and a one year high of $261.69. The business’s 50 day simple moving average is $226.13 and its 200-day simple moving average is $222.21.

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 for the quarter, meeting analysts’ consensus estimates of $1.99. Garmin had a return on equity of 19.42% and a net margin of 22.63%.The firm had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.78 billion. During the same period last year, the firm posted $1.99 EPS. The business’s revenue was up 11.7% on a year-over-year basis. Garmin has set its FY 2025 guidance at 8.150-8.150 EPS. On average, sell-side analysts anticipate that Garmin Ltd. will post 7.8 EPS for the current fiscal year.

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.