Machina Capital S.A.S. Acquires Shares of 4,446 Garmin Ltd. $GRMN

Machina Capital S.A.S. bought a new position in shares of Garmin Ltd. (NYSE:GRMN) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 4,446 shares of the scientific and technical instruments company’s stock, valued at approximately $928,000.

Other hedge funds have also recently modified their holdings of the company. Kestra Private Wealth Services LLC increased its holdings in shares of 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 valued at $1,858,000 after purchasing an additional 1,347 shares during the last quarter. Concurrent Investment Advisors LLC grew its holdings in Garmin by 23.4% in the 1st quarter. Concurrent Investment Advisors LLC now owns 2,304 shares of the scientific and technical instruments company’s stock valued at $500,000 after buying an additional 437 shares in the last quarter. Nordea Investment Management AB increased its stake in shares of Garmin by 47.8% in the 2nd quarter. Nordea Investment Management AB now owns 78,525 shares of the scientific and technical instruments company’s stock worth $16,266,000 after acquiring an additional 25,410 shares during the last quarter. First Hawaiian Bank acquired a new stake in shares of Garmin in the 1st quarter worth $1,649,000. Finally, Acadian Asset Management LLC raised its holdings in shares of Garmin by 7.2% during 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 period. Institutional investors and hedge funds own 81.60% of the company’s stock.

Garmin Stock Performance

NYSE:GRMN opened at $210.44 on Tuesday. Garmin Ltd. has a fifty-two week low of $169.26 and a fifty-two week high of $261.69. The company has a 50 day moving average price of $241.87 and a 200 day moving average price of $222.03. The stock has a market capitalization of $40.48 billion, a P/E ratio of 25.92, a PEG ratio of 2.41 and a beta of 0.98.

Garmin (NYSE:GRMN) last released its quarterly 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. Garmin had a return on equity of 19.42% and a net margin of 22.63%.The business had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.78 billion. During the same period last year, the business posted $1.99 earnings per share. The company’s quarterly revenue was up 11.7% on a year-over-year basis. Garmin has set its FY 2025 guidance at 8.150-8.150 EPS. Research analysts forecast that Garmin Ltd. will post 7.8 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other Garmin news, insider Cheng-Wei Wang sold 10,202 shares of Garmin stock in a transaction dated Wednesday, August 27th. The stock was 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 directly owned 36,092 shares of the company’s stock, valued at $8,390,668.16. The trade was a 22.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 15.38% of the stock is currently 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.