Los Angeles Capital Management LLC Sells 5,062 Shares of Garmin Ltd. $GRMN

Los Angeles Capital Management LLC trimmed its stake in shares of Garmin Ltd. (NYSE:GRMN) by 2.4% in the 2nd quarter, Holdings Channel reports. The firm owned 208,307 shares of the scientific and technical instruments company’s stock after selling 5,062 shares during the period. Los Angeles Capital Management LLC’s holdings in Garmin were worth $43,478,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Quaker Wealth Management LLC raised its position in shares of Garmin by 200.0% during the 2nd 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 purchased a new stake in shares of Garmin in the 1st quarter worth approximately $33,000. Zions Bancorporation National Association UT purchased a new stake in shares of Garmin during the first quarter worth about $38,000. SOA Wealth Advisors LLC. raised its position in 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 during the period. Finally, Park Square Financial Group LLC purchased a new stake in shares of Garmin in the 1st quarter valued at approximately $58,000. 81.60% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Garmin

In related news, insider Cheng-Wei Wang sold 10,202 shares of the company’s stock in a transaction that occurred on 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 directly owned 36,092 shares in the company, valued at approximately $8,390,668.16. This represents a 22.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 15.38% of the stock is owned by company insiders.

Garmin Price Performance

GRMN stock opened at $200.91 on Friday. Garmin Ltd. has a 1 year low of $169.26 and a 1 year high of $261.69. The stock has a market cap of $38.64 billion, a price-to-earnings ratio of 24.74, a P/E/G ratio of 2.41 and a beta of 1.01. The company has a 50 day simple moving average of $239.16 and a 200 day simple moving average of $221.99.

Garmin (NYSE:GRMN) last announced its quarterly earnings data 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. 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 in the prior year, the company earned $1.99 earnings per share. Garmin’s revenue was up 11.7% compared to the same quarter last year. Garmin has set its FY 2025 guidance at 8.150-8.150 EPS. On average, equities research analysts anticipate that Garmin Ltd. will post 7.8 EPS for the current fiscal year.

Analyst Ratings Changes

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

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.