Garmin Ltd. $GRMN Shares Sold by Signaturefd LLC

Signaturefd LLC lessened its stake in Garmin Ltd. (NYSE:GRMN) by 6.8% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,950 shares of the scientific and technical instruments company’s stock after selling 364 shares during the quarter. Signaturefd LLC’s holdings in Garmin were worth $1,033,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Kestra Private Wealth Services LLC increased its holdings in Garmin by 18.7% in the 1st 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 acquiring an additional 1,347 shares in the last quarter. Concurrent Investment Advisors LLC raised 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 buying an additional 437 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Garmin by 46.7% in 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 buying an additional 28,543 shares during the last quarter. Acadian Asset Management LLC raised its position in shares of Garmin by 7.2% in the first quarter. Acadian Asset Management LLC now owns 75,428 shares of the scientific and technical instruments company’s stock valued at $16,368,000 after buying an additional 5,089 shares during the last quarter. Finally, First Hawaiian Bank acquired a new stake in shares of Garmin in the first quarter valued at about $1,649,000. Hedge funds and other institutional investors own 81.60% of the company’s stock.

Garmin Trading Up 1.6%

Shares of GRMN opened at $240.40 on Monday. Garmin Ltd. has a 12-month low of $160.94 and a 12-month high of $246.50. The firm has a 50-day moving average price of $233.87 and a 200 day moving average price of $213.60. The firm has a market capitalization of $46.27 billion, a P/E ratio of 29.64, a P/E/G ratio of 2.63 and a beta of 1.00.

Garmin (NYSE:GRMN) last announced its quarterly earnings data on Wednesday, July 30th. The scientific and technical instruments company reported $2.17 earnings per share (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 firm had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.68 billion. During the same quarter in the prior year, the firm posted $1.58 earnings per share. 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. Equities research analysts predict that Garmin Ltd. will post 7.8 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on GRMN. Barclays reiterated an “underweight” rating and issued a $167.00 target price (up from $152.00) on shares of Garmin in a research report on Wednesday, July 30th. Morgan Stanley increased their target price 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. increased their target price 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. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $223.75.

Insider Transactions at Garmin

In other Garmin news, insider Cheng-Wei Wang sold 10,202 shares of the stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $232.48, for a total transaction of $2,371,760.96. Following the completion of the transaction, the insider owned 36,092 shares of the company’s stock, valued at $8,390,668.16. This trade represents a 22.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Douglas G. Boessen sold 1,859 shares of the stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $215.00, for a total transaction of $399,685.00. Following the transaction, the chief financial officer directly owned 29,146 shares of the company’s stock, valued at approximately $6,266,390. This trade represents a 6.00% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 19.54% of the company’s stock.

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.