Garmin Ltd. $GRMN Shares Sold by D.A. Davidson & CO.

D.A. Davidson & CO. lowered its stake in shares of Garmin Ltd. (NYSE:GRMN) by 1.3% during the second quarter, Holdings Channel reports. The firm owned 29,237 shares of the scientific and technical instruments company’s stock after selling 371 shares during the period. D.A. Davidson & CO.’s holdings in Garmin were worth $6,102,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Groupe la Francaise acquired a new stake in Garmin during the first quarter worth approximately $33,000. TFC Financial Management Inc. raised its holdings in 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 Garmin during the first quarter worth approximately $34,000. Zions Bancorporation National Association UT acquired a new stake in Garmin during the first quarter worth approximately $38,000. Finally, Olde Wealth Management LLC purchased a new position in shares of Garmin during the first quarter worth approximately $43,000. Institutional investors and hedge funds own 81.60% of the company’s stock.

Insider Buying and Selling

In other Garmin news, insider Cheng-Wei Wang sold 10,202 shares of the firm’s stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $232.48, for a total value of $2,371,760.96. Following the completion of the sale, the insider owned 36,092 shares of the company’s stock, valued at approximately $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 can be accessed through the SEC website. Company insiders own 15.38% of the company’s stock.

Garmin Price Performance

NYSE:GRMN opened at $250.31 on Friday. The firm’s fifty day moving average price is $242.21 and its 200 day moving average price is $219.25. Garmin Ltd. has a 1-year low of $161.28 and a 1-year high of $261.69. The firm has a market cap of $48.18 billion, a price-to-earnings ratio of 30.86, a price-to-earnings-growth ratio of 2.71 and a beta of 0.98.

Garmin (NYSE:GRMN) last posted its quarterly earnings data 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 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 analyst estimates of $1.68 billion. During the same period last year, the firm posted $1.58 EPS. Garmin’s quarterly revenue was up 20.4% on a year-over-year basis. Garmin has set its FY 2025 guidance at 8.000-8.000 EPS. As a group, analysts expect that Garmin Ltd. will post 7.8 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on GRMN. JPMorgan Chase & Co. raised their target price on shares of Garmin from $215.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, July 17th. Weiss Ratings restated a “buy (b)” rating on shares of Garmin in a research report on Wednesday, October 8th. Barclays restated an “underweight” rating and set a $167.00 target price (up from $152.00) on shares of Garmin in a research report on Wednesday, July 30th. Tigress Financial raised their target price on shares of Garmin from $285.00 to $305.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, September 30th. Finally, Morgan Stanley raised their target price 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. One 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 stock. According to MarketBeat.com, Garmin presently has an average rating of “Hold” and an average target price of $228.75.

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.