BankPlus Trust Department Buys 544 Shares of Garmin Ltd. $GRMN

BankPlus Trust Department lifted its holdings in Garmin Ltd. (NYSE:GRMN) by 7.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,391 shares of the scientific and technical instruments company’s stock after purchasing an additional 544 shares during the quarter. BankPlus Trust Department’s holdings in Garmin were worth $1,543,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Independent Solutions Wealth Management LLC lifted its position in shares of Garmin by 7.6% in the second quarter. Independent Solutions Wealth Management LLC now owns 1,622 shares of the scientific and technical instruments company’s stock worth $339,000 after purchasing an additional 115 shares in the last quarter. Joel Isaacson & Co. LLC bought a new stake in shares of Garmin in the second quarter worth $250,000. Petros Family Wealth LLC lifted its position in shares of Garmin by 10.8% in the second quarter. Petros Family Wealth LLC now owns 1,872 shares of the scientific and technical instruments company’s stock worth $391,000 after purchasing an additional 183 shares in the last quarter. Wealthcare Advisory Partners LLC lifted its position in shares of Garmin by 1.6% in the second quarter. Wealthcare Advisory Partners LLC now owns 7,671 shares of the scientific and technical instruments company’s stock worth $1,601,000 after purchasing an additional 121 shares in the last quarter. Finally, AMF Tjanstepension AB bought a new stake in shares of Garmin in the second quarter worth $8,089,000. Institutional investors own 81.60% of the company’s stock.

Garmin Stock Performance

NYSE GRMN opened at $256.08 on Wednesday. The stock has a market cap of $49.29 billion, a PE ratio of 31.58, a P/E/G ratio of 2.82 and a beta of 0.98. The firm has a 50-day moving average of $236.78 and a 200-day moving average of $215.69. Garmin Ltd. has a 52-week low of $160.95 and a 52-week high of $259.87.

Garmin (NYSE:GRMN) last announced its quarterly earnings results on Wednesday, July 30th. The scientific and technical instruments company reported $2.17 EPS for the quarter, beating 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 business had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same quarter in the prior year, the business earned $1.58 EPS. Garmin’s quarterly revenue was up 20.4% on a year-over-year basis. Garmin has set its FY 2025 guidance at 8.000-8.000 EPS. As a group, analysts predict that Garmin Ltd. will post 7.8 EPS for the current fiscal year.

Insider Buying and Selling

In related news, 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 transaction, the insider owned 36,092 shares in the company, valued at approximately $8,390,668.16. This represents a 22.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 19.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on GRMN shares. Barclays reissued an “underweight” rating and issued a $167.00 price objective (up previously from $152.00) on shares of Garmin in a research report on Wednesday, July 30th. JPMorgan Chase & Co. boosted their target price on shares of Garmin from $215.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday, July 17th. Morgan Stanley boosted their target price on shares of Garmin from $186.00 to $193.00 and gave the stock an “underweight” rating in a report on Friday, September 19th. Tigress Financial boosted their target price on shares of Garmin from $285.00 to $305.00 and gave the stock a “strong-buy” rating in a report on Tuesday, September 30th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Garmin in a report on Saturday, September 27th. 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 given a Sell rating to the company. Based on data from MarketBeat.com, Garmin presently has a consensus rating of “Hold” and a consensus price target of $228.75.

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.