Garmin Ltd. $GRMN Shares Purchased by Sagespring Wealth Partners LLC

Sagespring Wealth Partners LLC lifted its position in Garmin Ltd. (NYSE:GRMNFree Report) by 7.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,198 shares of the scientific and technical instruments company’s stock after purchasing an additional 84 shares during the quarter. Sagespring Wealth Partners LLC’s holdings in Garmin were worth $250,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Groupe la Francaise purchased a new stake in Garmin during the 1st quarter valued at approximately $33,000. TFC Financial Management Inc. raised its stake in Garmin by 1,633.3% during the 1st quarter. TFC Financial Management Inc. now owns 156 shares of the scientific and technical instruments company’s stock valued at $34,000 after acquiring an additional 147 shares during the last quarter. Wayfinding Financial LLC purchased a new stake in Garmin during the 1st quarter valued at approximately $34,000. Zions Bancorporation National Association UT purchased a new stake in Garmin during the 1st quarter valued at approximately $38,000. Finally, Garde Capital Inc. purchased a new stake in Garmin during the 1st quarter valued at approximately $40,000. 81.60% of the stock is owned by institutional investors and hedge funds.

Garmin Price Performance

GRMN opened at $249.20 on Friday. The business has a 50 day simple moving average of $240.92 and a 200-day simple moving average of $217.62. The stock has a market capitalization of $47.97 billion, a P/E ratio of 30.73, a P/E/G ratio of 2.73 and a beta of 0.98. Garmin Ltd. has a 12 month low of $160.95 and a 12 month high of $261.69.

Garmin (NYSE:GRMNGet Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The scientific and technical instruments company reported $2.17 EPS for the quarter, beating the consensus estimate of $1.90 by $0.27. The business 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 company’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same period last year, the firm earned $1.58 EPS. Garmin has set its FY 2025 guidance at 8.000-8.000 EPS. Research analysts anticipate that Garmin Ltd. will post 7.8 EPS for the current year.

Analysts Set New Price Targets

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

Read Our Latest Stock Analysis on GRMN

Insider Activity

In other news, insider Cheng-Wei Wang sold 10,202 shares of Garmin 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 completion of the transaction, the insider owned 36,092 shares of the company’s stock, valued at $8,390,668.16. The trade was a 22.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 15.38% of the stock is owned by company insiders.

About Garmin

(Free Report)

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.

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Institutional Ownership by Quarter for Garmin (NYSE:GRMN)

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