William Allan Corp Has $1.98 Million Stock Position in Garmin Ltd. $GRMN

William Allan Corp lowered its holdings in shares of Garmin Ltd. (NYSE:GRMN) by 1.1% in the second quarter, Holdings Channel.com reports. The institutional investor owned 9,480 shares of the scientific and technical instruments company’s stock after selling 102 shares during the period. William Allan Corp’s holdings in Garmin were worth $1,979,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of GRMN. Brighton Jones LLC raised its holdings in shares of Garmin by 31.3% during the 4th quarter. Brighton Jones LLC now owns 1,943 shares of the scientific and technical instruments company’s stock worth $401,000 after buying an additional 463 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Garmin by 15.8% during the 1st quarter. GAMMA Investing LLC now owns 4,078 shares of the scientific and technical instruments company’s stock worth $885,000 after buying an additional 557 shares in the last quarter. Golden State Wealth Management LLC raised its holdings in shares of Garmin by 255.2% during the 1st quarter. Golden State Wealth Management LLC now owns 444 shares of the scientific and technical instruments company’s stock worth $96,000 after buying an additional 319 shares in the last quarter. Perigon Wealth Management LLC increased its holdings in Garmin by 25.2% in the 1st quarter. Perigon Wealth Management LLC now owns 2,323 shares of the scientific and technical instruments company’s stock worth $504,000 after purchasing an additional 467 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in Garmin by 19.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,085 shares of the scientific and technical instruments company’s stock worth $3,437,000 after purchasing an additional 2,611 shares in the last quarter. Institutional investors and hedge funds own 81.60% of the company’s stock.

Insider Activity at Garmin

In related news, insider Cheng-Wei Wang sold 10,202 shares of the company’s stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $232.48, for a total transaction of $2,371,760.96. Following the sale, the insider owned 36,092 shares in the company, valued at $8,390,668.16. This represents a 22.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 15.38% of the stock is currently owned by insiders.

Garmin Trading Up 0.4%

Shares of GRMN stock opened at $251.57 on Tuesday. The stock has a market cap of $48.43 billion, a price-to-earnings ratio of 31.02, a PEG ratio of 2.74 and a beta of 0.98. The stock has a 50-day moving average of $242.95 and a 200-day moving average of $220.71. Garmin Ltd. has a 1-year low of $163.11 and a 1-year high of $261.69.

Garmin (NYSE:GRMN) last issued its quarterly earnings results on Wednesday, July 30th. The scientific and technical instruments company reported $2.17 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.27. The company had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.68 billion. Garmin had a return on equity of 20.00% and a net margin of 23.21%.The business’s quarterly revenue was up 20.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.58 earnings per share. Garmin has set its FY 2025 guidance at 8.000-8.000 EPS. Sell-side analysts forecast that Garmin Ltd. will post 7.8 earnings per share for the current year.

Wall Street Analysts Forecast Growth

GRMN has been the subject of a number of recent research reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Garmin in a report on Wednesday, October 8th. JPMorgan Chase & Co. upped their target price on Garmin from $215.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday, July 17th. Morgan Stanley upped their target price on Garmin from $186.00 to $193.00 and gave the stock an “underweight” rating in a report on Friday, September 19th. Barclays reaffirmed an “underweight” rating and issued a $167.00 target price (up previously from $152.00) on shares of Garmin in a report on Wednesday, July 30th. Finally, Tigress Financial upped their target price on Garmin from $285.00 to $305.00 and gave the stock a “strong-buy” rating in a report on Tuesday, September 30th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $228.75.

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.