Schroder Investment Management Group Lowers Stake in Garmin Ltd. $GRMN

Schroder Investment Management Group cut its stake in Garmin Ltd. (NYSE:GRMN) by 20.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 134,148 shares of the scientific and technical instruments company’s stock after selling 33,621 shares during the period. Schroder Investment Management Group’s holdings in Garmin were worth $27,999,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Quaker Wealth Management LLC boosted its holdings in shares of Garmin by 200.0% in the 2nd quarter. Quaker Wealth Management LLC now owns 132 shares of the scientific and technical instruments company’s stock worth $28,000 after purchasing an additional 264 shares in the last quarter. Groupe la Francaise purchased a new position in shares of Garmin during the 1st quarter valued at about $33,000. Zions Bancorporation National Association UT bought a new stake in Garmin in the 1st quarter worth approximately $38,000. SOA Wealth Advisors LLC. boosted its stake in Garmin by 27.5% in the second quarter. SOA Wealth Advisors LLC. now owns 269 shares of the scientific and technical instruments company’s stock worth $56,000 after buying an additional 58 shares in the last quarter. Finally, Harbour Investments Inc. grew its position in Garmin by 31.8% during the first quarter. Harbour Investments Inc. now owns 265 shares of the scientific and technical instruments company’s stock valued at $58,000 after acquiring an additional 64 shares during the last quarter. Hedge funds and other institutional investors own 81.60% of the company’s stock.

Garmin Stock Up 0.2%

Shares of Garmin stock opened at $197.32 on Wednesday. The company’s fifty day simple moving average is $224.55 and its two-hundred day simple moving average is $222.28. Garmin Ltd. has a 12-month low of $169.26 and a 12-month high of $261.69. The firm has a market cap of $37.95 billion, a PE ratio of 24.30, a price-to-earnings-growth ratio of 2.23 and a beta of 1.01.

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

Analyst Ratings Changes

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

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.