Korea Investment CORP Has $18.75 Million Stock Holdings in Garmin Ltd. $GRMN

Korea Investment CORP trimmed its holdings in shares of Garmin Ltd. (NYSE:GRMN) by 10.5% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 89,854 shares of the scientific and technical instruments company’s stock after selling 10,541 shares during the quarter. Korea Investment CORP’s holdings in Garmin were worth $18,754,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of GRMN. Vanguard Group Inc. raised its holdings in shares of 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 acquiring an additional 1,273,163 shares during the period. 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 purchasing an additional 356,161 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Garmin by 1.3% in the second quarter. Geode Capital Management LLC now owns 4,606,511 shares of the scientific and technical instruments company’s stock valued at $958,405,000 after purchasing an additional 59,321 shares in the last quarter. Invesco Ltd. boosted its position in shares of 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 worth $404,329,000 after buying an additional 153,267 shares during the period. Finally, AQR Capital Management LLC boosted its position in shares of 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 buying an additional 700,967 shares during the period. Institutional investors own 81.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on GRMN shares. Barclays boosted their target price on Garmin from $167.00 to $208.00 and gave the company an “underweight” rating in a research note on Thursday, October 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Garmin in a research report on Wednesday, October 8th. Morgan Stanley raised their target price on shares of Garmin from $193.00 to $195.00 and gave the company an “underweight” rating in a research report on Thursday, October 30th. Finally, Tigress Financial lifted their price target 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. One equities research 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 company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $239.50.

Garmin Stock Up 0.5%

Shares of NYSE GRMN opened at $195.72 on Friday. The business’s 50 day moving average price is $226.13 and its two-hundred day moving average price is $222.21. The company has a market cap of $37.64 billion, a PE ratio of 24.10, a price-to-earnings-growth ratio of 2.41 and a beta of 1.01. Garmin Ltd. has a twelve month low of $169.26 and a twelve month high of $261.69.

Garmin (NYSE:GRMN) last issued its earnings results on Wednesday, October 29th. The scientific and technical instruments company reported $1.99 EPS for the quarter, hitting the consensus estimate of $1.99. The company had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.78 billion. Garmin had a return on equity of 19.42% and a net margin of 22.63%.The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.99 EPS. Garmin has set its FY 2025 guidance at 8.150-8.150 EPS. As a group, research analysts anticipate 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.