Signaturefd LLC Lowers Stock Position in Garmin Ltd. $GRMN

Signaturefd LLC lessened its stake in shares of Garmin Ltd. (NYSE:GRMN) by 6.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Groupe la Francaise acquired a new stake in shares of Garmin during the first quarter worth about $33,000. TFC Financial Management Inc. lifted its position in shares of Garmin by 1,633.3% during the first quarter. TFC Financial Management Inc. now owns 156 shares of the scientific and technical instruments company’s stock worth $34,000 after purchasing an additional 147 shares in the last quarter. Wayfinding Financial LLC acquired a new stake in shares of Garmin during the first quarter worth about $34,000. Zions Bancorporation National Association UT acquired a new stake in shares of Garmin during the first quarter worth about $38,000. Finally, Garde Capital Inc. acquired a new stake in shares of Garmin during the first quarter worth about $40,000. Hedge funds and other institutional investors own 81.60% of the company’s stock.

Garmin Stock Up 1.6%

Shares of NYSE:GRMN opened at $240.40 on Monday. The firm’s 50 day moving average price is $233.87 and its 200 day moving average price is $213.60. The stock has a market cap of $46.27 billion, a price-to-earnings ratio of 29.64, a price-to-earnings-growth ratio of 2.63 and a beta of 1.00. Garmin Ltd. has a fifty-two week low of $160.94 and a fifty-two week high of $246.50.

Garmin (NYSE:GRMN) last issued its 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. Garmin had a net margin of 23.21% and a return on equity of 20.00%. The firm had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.68 billion. During the same quarter last year, the company earned $1.58 earnings per share. The firm’s revenue was up 20.4% compared to the same quarter last year. Garmin has set its FY 2025 guidance at 8.000-8.000 EPS. On average, equities analysts anticipate that Garmin Ltd. will post 7.8 EPS for the current year.

Insider Buying and Selling

In other Garmin news, CFO Douglas G. Boessen sold 1,859 shares of the firm’s stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $215.00, for a total transaction of $399,685.00. Following the sale, the chief financial officer owned 29,146 shares of the company’s stock, valued at approximately $6,266,390. This trade represents a 6.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Cheng-Wei Wang sold 10,202 shares of the firm’s stock in a transaction that occurred on 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 directly owned 36,092 shares in the company, valued at approximately $8,390,668.16. The trade was a 22.04% decrease in their position. The disclosure for this sale can be found here. 19.54% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have recently issued reports on GRMN shares. Barclays reissued an “underweight” rating and set a $167.00 price target (up previously from $152.00) on shares of Garmin in a research report on Wednesday, July 30th. Morgan Stanley increased their price target on shares of Garmin from $186.00 to $193.00 and gave the stock an “underweight” rating in a research report on Friday, September 19th. Finally, JPMorgan Chase & Co. raised their target price on shares of Garmin from $215.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $223.75.

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.