Kera Capital Partners Inc. Purchases 722 Shares of Garmin Ltd. $GRMN

Kera Capital Partners Inc. increased its position in Garmin Ltd. (NYSE:GRMN) by 63.3% in the second quarter, Holdings Channel.com reports. The fund owned 1,862 shares of the scientific and technical instruments company’s stock after acquiring an additional 722 shares during the quarter. Kera Capital Partners Inc.’s holdings in Garmin were worth $389,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Garmin by 2.0% in the first quarter. Vanguard Group Inc. now owns 18,425,166 shares of the scientific and technical instruments company’s stock valued at $4,000,656,000 after acquiring an additional 357,458 shares during the period. Invesco Ltd. lifted its position in Garmin by 9.0% during the first quarter. Invesco Ltd. now owns 1,862,153 shares of the scientific and technical instruments company’s stock valued at $404,329,000 after purchasing an additional 153,267 shares during the last quarter. AQR Capital Management LLC lifted 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 valued at $340,574,000 after purchasing an additional 700,967 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted 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 valued at $262,907,000 after purchasing an additional 211,731 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Garmin by 15.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 999,096 shares of the scientific and technical instruments company’s stock valued at $206,074,000 after purchasing an additional 135,135 shares during the last quarter. 81.60% of the stock is currently owned by institutional investors.

Garmin Stock Performance

Shares of GRMN opened at $238.07 on Friday. The firm has a market cap of $45.83 billion, a price-to-earnings ratio of 29.36, a PEG ratio of 2.65 and a beta of 1.00. Garmin Ltd. has a fifty-two week low of $160.94 and a fifty-two week high of $246.50. The firm has a 50 day moving average price of $230.27 and a 200-day moving average price of $212.48.

Garmin (NYSE:GRMN) last posted its quarterly earnings results on Wednesday, July 30th. The scientific and technical instruments company reported $2.17 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $1.68 billion. During the same period in the prior year, the business posted $1.58 EPS. The firm’s revenue was up 20.4% compared to the same quarter last year. Garmin has set its FY 2025 guidance at 8.000-8.000 EPS. As a group, equities research analysts predict that Garmin Ltd. will post 7.8 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on GRMN shares. Barclays reiterated an “underweight” rating and set a $167.00 target price (up from $152.00) on shares of Garmin in a research report on Wednesday, July 30th. JPMorgan Chase & Co. lifted their target price on shares of Garmin from $215.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday, July 17th. Finally, Morgan Stanley lifted their target price on shares of Garmin from $172.00 to $186.00 and gave the company an “underweight” rating in a research report on Thursday, July 31st. One investment analyst has rated the stock with a Strong 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 a consensus rating of “Hold” and an average price target of $222.00.

Insider Activity at Garmin

In related news, insider Cheng-Wei Wang sold 10,202 shares of the company’s 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 directly 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 SEC, which is available through this link. Also, CEO Clifton A. Pemble sold 7,899 shares of the company’s stock in a transaction on Monday, June 16th. The shares were sold at an average price of $203.25, for a total transaction of $1,605,471.75. Following the sale, the chief executive officer owned 141,626 shares of the company’s stock, valued at $28,785,484.50. This represents a 5.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,960 shares of company stock worth $4,376,918 in the last three months. 15.38% of the stock is owned by insiders.

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.