Unison Advisors LLC Raises Holdings in Garmin Ltd. $GRMN

Unison Advisors LLC lifted its holdings in shares of Garmin Ltd. (NYSE:GRMN) by 0.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,123 shares of the scientific and technical instruments company’s stock after purchasing an additional 115 shares during the period. Garmin comprises approximately 0.7% of Unison Advisors LLC’s holdings, making the stock its 20th biggest holding. Unison Advisors LLC’s holdings in Garmin were worth $5,870,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of Garmin by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 18,425,166 shares of the scientific and technical instruments company’s stock worth $4,000,656,000 after purchasing an additional 357,458 shares in the last quarter. Invesco Ltd. grew its stake in Garmin by 9.0% in the 1st quarter. Invesco Ltd. now owns 1,862,153 shares of the scientific and technical instruments company’s stock worth $404,329,000 after acquiring an additional 153,267 shares during the period. AQR Capital Management LLC grew its stake in Garmin by 79.3% in the 1st 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 acquiring an additional 700,967 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Garmin by 21.2% in the 1st 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 worth $262,907,000 after acquiring an additional 211,731 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in Garmin by 0.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 892,606 shares of the scientific and technical instruments company’s stock worth $193,812,000 after acquiring an additional 2,768 shares during the period. 81.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GRMN has been the subject of several recent analyst reports. Barclays reaffirmed an “underweight” rating and issued a $167.00 target price (up from $152.00) on shares of Garmin in a research note on Wednesday, July 30th. JPMorgan Chase & Co. lifted their target price 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. Tigress Financial boosted their price objective 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. Morgan Stanley boosted their price objective on shares of Garmin from $186.00 to $193.00 and gave the company an “underweight” rating in a research note on Friday, September 19th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Garmin in a research note on Wednesday, October 8th. One equities research 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’s stock. According to data from MarketBeat.com, Garmin has an average rating of “Hold” and an average price target of $228.75.

Garmin Trading Up 1.0%

Shares of Garmin stock opened at $249.20 on Monday. The company has a fifty day moving average price of $240.92 and a 200 day moving average price of $217.84. Garmin Ltd. has a twelve month low of $160.95 and a twelve month high of $261.69. The stock has a market cap of $47.97 billion, a price-to-earnings ratio of 30.73, a price-to-earnings-growth ratio of 2.73 and a beta of 0.98.

Garmin (NYSE:GRMN) last issued its quarterly earnings data on Wednesday, July 30th. The scientific and technical instruments company reported $2.17 EPS for the quarter, topping 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 firm had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same quarter in the previous 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. Analysts forecast that Garmin Ltd. will post 7.8 earnings per share for the current year.

Insider Buying and Selling

In other Garmin news, insider Cheng-Wei Wang sold 10,202 shares of the business’s stock in a transaction on 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 transaction, the insider owned 36,092 shares in the company, valued at $8,390,668.16. The trade was a 22.04% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 19.54% of the stock is owned by corporate insiders.

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.