Garmin Ltd. $GRMN Shares Sold by Realta Investment Advisors

Realta Investment Advisors cut its stake in shares of Garmin Ltd. (NYSE:GRMN) by 5.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,808 shares of the scientific and technical instruments company’s stock after selling 276 shares during the quarter. Realta Investment Advisors’ holdings in Garmin were worth $1,004,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of GRMN. Groupe la Francaise acquired a new stake in shares of Garmin during the first quarter worth $33,000. TFC Financial Management Inc. lifted its holdings 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 during the period. Wayfinding Financial LLC purchased a new position in Garmin in the first quarter worth $34,000. Zions Bancorporation National Association UT purchased a new position in Garmin in the first quarter worth $38,000. Finally, Garde Capital Inc. purchased a new position in Garmin in the first quarter worth $40,000. 81.60% of the stock is owned by institutional investors and hedge funds.

Garmin Stock Down 0.3%

Shares of GRMN stock opened at $256.86 on Friday. Garmin Ltd. has a fifty-two week low of $160.94 and a fifty-two week high of $258.51. The stock has a market cap of $49.44 billion, a P/E ratio of 31.67, a P/E/G ratio of 2.82 and a beta of 0.98. The business has a fifty day simple moving average of $236.02 and a 200-day simple moving average of $215.03.

Garmin (NYSE:GRMN) last announced its quarterly earnings results on Wednesday, July 30th. The scientific and technical instruments company reported $2.17 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $0.27. Garmin had a return on equity of 20.00% and a net margin of 23.21%.The business had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.68 billion. During the same quarter last year, the business posted $1.58 earnings per share. The business’s revenue for the quarter was up 20.4% on a year-over-year basis. Garmin has set its FY 2025 guidance at 8.000-8.000 EPS. On average, sell-side analysts anticipate 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 several research analyst reports. Morgan Stanley increased their price objective on Garmin from $186.00 to $193.00 and gave the stock an “underweight” rating in a research report on Friday, September 19th. Tigress Financial increased their price objective on Garmin from $285.00 to $305.00 and gave the stock a “strong-buy” rating in a research report on Tuesday. Barclays reiterated an “underweight” rating and issued a $167.00 price objective (up previously from $152.00) on shares of Garmin in a research report on Wednesday, July 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of Garmin in a research report on Saturday, September 27th. Finally, JPMorgan Chase & Co. increased their price objective on Garmin from $215.00 to $250.00 and gave the stock 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 given a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Garmin presently has a consensus rating of “Hold” and an average target price of $228.75.

Insider Activity at Garmin

In related news, insider Cheng-Wei Wang sold 10,202 shares of the stock in a transaction 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 15.38% of the stock is currently owned by insiders.

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.