Fjarde AP Fonden Fourth Swedish National Pension Fund Has $8.68 Million Stock Position in Garmin Ltd. $GRMN

Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in shares of Garmin Ltd. (NYSE:GRMN) by 8.6% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 41,601 shares of the scientific and technical instruments company’s stock after buying an additional 3,300 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Garmin were worth $8,683,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Groupe la Francaise bought a new stake in shares of Garmin during the first quarter worth approximately $33,000. Wayfinding Financial LLC bought a new position in Garmin in the first quarter valued at approximately $34,000. Zions Bancorporation National Association UT bought a new position in Garmin in the first quarter valued at approximately $38,000. Olde Wealth Management LLC acquired a new stake in Garmin during the 1st quarter worth $43,000. Finally, SOA Wealth Advisors LLC. raised its position in shares of Garmin by 27.5% during the 2nd quarter. SOA Wealth Advisors LLC. now owns 269 shares of the scientific and technical instruments company’s stock valued at $56,000 after acquiring an additional 58 shares during the last quarter. Institutional investors own 81.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Weiss Ratings restated a “buy (b)” rating on shares of Garmin in a research report on Wednesday, October 8th. Barclays restated an “underweight” rating and set a $167.00 target price (up previously from $152.00) on shares of Garmin in a report on Wednesday, July 30th. Morgan Stanley boosted their target price on Garmin from $186.00 to $193.00 and gave the stock an “underweight” rating in a research report on Friday, September 19th. Tigress Financial increased their price target on shares of Garmin from $285.00 to $305.00 and gave the company a “strong-buy” rating in a research report on Tuesday, September 30th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Garmin from $215.00 to $250.00 and gave the stock 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 issued a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Garmin presently has an average rating of “Hold” and a consensus target price of $228.75.

Insider Buying and Selling at Garmin

In other news, insider Cheng-Wei Wang sold 10,202 shares of the stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $232.48, for a total transaction of $2,371,760.96. Following the completion of the sale, the insider owned 36,092 shares of the company’s stock, valued at $8,390,668.16. This represents a 22.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 15.38% of the stock is owned by company insiders.

Garmin Price Performance

NYSE GRMN opened at $220.10 on Thursday. The firm has a market cap of $42.37 billion, a P/E ratio of 27.14, a P/E/G ratio of 2.72 and a beta of 0.98. The stock’s 50-day moving average is $243.05 and its 200-day moving average is $221.35. Garmin Ltd. has a one year low of $169.26 and a one year high of $261.69.

Garmin (NYSE:GRMN) last issued its quarterly earnings data on Wednesday, October 29th. The scientific and technical instruments company reported $1.99 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.99. Garmin had a return on equity of 20.00% and a net margin of 23.21%.The business had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.78 billion. During the same period in the previous year, the firm earned $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. Equities analysts anticipate that Garmin Ltd. will post 7.8 EPS for the current 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.