City Holding Co. Purchases 934 Shares of Garmin Ltd. $GRMN

City Holding Co. increased its holdings in shares of Garmin Ltd. (NYSE:GRMN) by 12.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,665 shares of the scientific and technical instruments company’s stock after buying an additional 934 shares during the quarter. City Holding Co.’s holdings in Garmin were worth $1,809,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Kestra Private Wealth Services LLC increased its holdings in Garmin by 18.7% in the first quarter. Kestra Private Wealth Services LLC now owns 8,559 shares of the scientific and technical instruments company’s stock worth $1,858,000 after purchasing an additional 1,347 shares in the last quarter. Concurrent Investment Advisors LLC boosted its position in shares of Garmin by 23.4% in the first quarter. Concurrent Investment Advisors LLC now owns 2,304 shares of the scientific and technical instruments company’s stock valued at $500,000 after acquiring an additional 437 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in Garmin by 46.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 89,715 shares of the scientific and technical instruments company’s stock valued at $19,480,000 after purchasing an additional 28,543 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in shares of Garmin by 7.2% in the 1st quarter. Acadian Asset Management LLC now owns 75,428 shares of the scientific and technical instruments company’s stock worth $16,368,000 after acquiring an additional 5,089 shares during the last quarter. Finally, First Hawaiian Bank bought a new position in shares of Garmin during the first quarter valued at about $1,649,000. 81.60% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

GRMN has been the subject of a number of research reports. Barclays reiterated an “underweight” rating and set a $167.00 target price (up from $152.00) on shares of Garmin in a research note on Wednesday, July 30th. Morgan Stanley increased their price target on shares of Garmin from $186.00 to $193.00 and gave the company an “underweight” rating in a research report on Friday, September 19th. Finally, JPMorgan Chase & Co. lifted their price target on Garmin from $215.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday, July 17th. One research analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $223.75.

Insider Buying and Selling

In other Garmin news, CFO Douglas G. Boessen sold 1,859 shares of the company’s stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $215.00, for a total value of $399,685.00. Following the transaction, the chief financial officer owned 29,146 shares of the company’s stock, valued at approximately $6,266,390. This represents a 6.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Cheng-Wei Wang sold 10,202 shares of the company’s stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $232.48, for a total value of $2,371,760.96. Following the completion of the transaction, the insider owned 36,092 shares in the company, valued at $8,390,668.16. This represents a 22.04% decrease in their position. The disclosure for this sale can be found here. 15.38% of the stock is owned by insiders.

Garmin Stock Performance

Garmin stock opened at $240.40 on Friday. The firm has a 50 day moving average price of $233.87 and a 200 day moving average price of $213.57. Garmin Ltd. has a 1 year low of $160.94 and a 1 year high of $246.50. The company has a market cap of $46.27 billion, a price-to-earnings ratio of 29.64, a PEG ratio of 2.63 and a beta of 1.00.

Garmin (NYSE:GRMN) last released its earnings results on Wednesday, July 30th. The scientific and technical instruments company reported $2.17 EPS for the quarter, beating the consensus estimate of $1.90 by $0.27. Garmin had a return on equity of 20.00% and a net margin of 23.21%.The company had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.68 billion. During the same period in the prior year, the business posted $1.58 EPS. The business’s revenue was up 20.4% on a year-over-year basis. Garmin has set its FY 2025 guidance at 8.000-8.000 EPS. Sell-side analysts predict that Garmin Ltd. will post 7.8 EPS for the current year.

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.