M&T Bank Corp Sells 6,020 Shares of Garmin Ltd. $GRMN

M&T Bank Corp reduced its position in Garmin Ltd. (NYSE:GRMN - Free Report) by 23.2% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 19,963 shares of the scientific and technical instruments company's stock after selling 6,020 shares during the period. M&T Bank Corp's holdings in Garmin were worth $4,167,000 as of its most recent SEC filing.

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Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quaker Wealth Management LLC raised its position in shares of Garmin by 200.0% in the second quarter. Quaker Wealth Management LLC now owns 132 shares of the scientific and technical instruments company's stock valued at $28,000 after purchasing an additional 264 shares during the period. Groupe la Francaise bought a new position in Garmin in the 1st quarter worth approximately $33,000. Zions Bancorporation National Association UT purchased a new position in Garmin in the 1st quarter valued at approximately $38,000. Harbour Investments Inc. raised its holdings in Garmin by 31.8% during the 1st 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 period. Finally, SOA Wealth Advisors LLC. lifted its position in shares of Garmin by 27.5% during the second quarter. SOA Wealth Advisors LLC. now owns 269 shares of the scientific and technical instruments company's stock worth $56,000 after acquiring an additional 58 shares in the last quarter. Institutional investors own 81.60% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Longbow Research upgraded Garmin from a "neutral" rating to a "buy" rating and set a $250.00 price target for the company in a research report on Wednesday. Tigress Financial raised their target price on Garmin from $285.00 to $305.00 and gave the stock a "strong-buy" rating in a research note on Tuesday, September 30th. Morgan Stanley lifted their target price on Garmin from $193.00 to $195.00 and gave the company an "underweight" rating in a report on Thursday, October 30th. Barclays upped their price target on Garmin from $167.00 to $208.00 and gave the company an "underweight" rating in a research report on Thursday, October 30th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Garmin in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Garmin currently has an average rating of "Hold" and an average price target of $241.60.

• Garmin’s Growth Signals Wearables Surge: Stocks to Watch

Check Out Our Latest Research Report on Garmin

Garmin Stock Up 1.4%

Garmin stock opened at $202.18 on Friday. The stock has a market cap of $38.89 billion, a price-to-earnings ratio of 24.90, a PEG ratio of 2.26 and a beta of 1.01. The business has a 50-day simple moving average of $223.13 and a 200 day simple moving average of $221.98. Garmin Ltd. has a 52 week low of $169.26 and a 52 week high of $261.69.

• Garmin Navigates to New Highs Driven By Wearables Trend

Garmin (NYSE:GRMN - Get Free Report) last released its quarterly earnings results on Wednesday, October 29th. The scientific and technical instruments company reported $1.99 earnings per share for the quarter, meeting the consensus estimate of $1.99. The firm had revenue of $1.77 billion for the quarter, compared to analysts' expectations of $1.78 billion. Garmin had a return on equity of 19.42% and a net margin of 22.63%.The company's revenue was up 11.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.99 EPS. Garmin has set its FY 2025 guidance at 8.150-8.150 EPS. On average, research analysts anticipate that Garmin Ltd. will post 7.8 earnings per share for the current year.

Garmin Company 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.

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