180 Wealth Advisors LLC Cuts Holdings in Garmin Ltd. $GRMN

180 Wealth Advisors LLC decreased its holdings in Garmin Ltd. (NYSE:GRMN) by 11.9% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,163 shares of the scientific and technical instruments company’s stock after selling 561 shares during the period. 180 Wealth Advisors LLC’s holdings in Garmin were worth $869,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Garmin by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 18,425,166 shares of the scientific and technical instruments company’s stock worth $4,000,656,000 after buying an additional 357,458 shares during the period. Invesco Ltd. grew its position in Garmin by 9.0% during the 1st quarter. Invesco Ltd. now owns 1,862,153 shares of the scientific and technical instruments company’s stock valued at $404,329,000 after purchasing an additional 153,267 shares during the last quarter. AQR Capital Management LLC grew its position in Garmin by 79.3% during the 1st quarter. AQR Capital Management LLC now owns 1,585,170 shares of the scientific and technical instruments company’s stock valued at $340,574,000 after purchasing an additional 700,967 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Garmin by 21.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,210,827 shares of the scientific and technical instruments company’s stock valued at $262,907,000 after purchasing an additional 211,731 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Garmin by 0.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 892,606 shares of the scientific and technical instruments company’s stock valued at $193,812,000 after purchasing an additional 2,768 shares during the last quarter. Hedge funds and other institutional investors own 81.60% of the company’s stock.

Garmin Price Performance

Garmin stock opened at $250.28 on Friday. The firm’s 50 day moving average price is $242.57 and its 200-day moving average price is $219.78. Garmin Ltd. has a 1 year low of $161.97 and a 1 year high of $261.69. The stock has a market cap of $48.18 billion, a P/E ratio of 30.86, a PEG ratio of 2.74 and a beta of 0.98.

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

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on GRMN. Barclays reiterated an “underweight” rating and issued a $167.00 price objective (up previously from $152.00) on shares of Garmin in a research note on Wednesday, July 30th. JPMorgan Chase & Co. increased their price objective on shares of Garmin from $215.00 to $250.00 and gave the stock a “neutral” rating in a research note on Thursday, July 17th. 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 note on Friday, September 19th. Weiss Ratings restated a “buy (b)” rating on shares of Garmin in a research note on Wednesday, October 8th. Finally, 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 note on Tuesday, September 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $228.75.

Insider Buying and Selling

In other Garmin news, insider Cheng-Wei Wang sold 10,202 shares of Garmin stock in a transaction on Wednesday, August 27th. The shares were 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 directly owned 36,092 shares of the company’s stock, valued at $8,390,668.16. The trade was a 22.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 15.38% of the stock is owned by insiders.

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.