Hantz Financial Services Inc. Sells 1,712 Shares of Garmin Ltd. $GRMN

Hantz Financial Services Inc. decreased its position in Garmin Ltd. (NYSE:GRMN) by 4.8% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 34,059 shares of the scientific and technical instruments company’s stock after selling 1,712 shares during the quarter. Hantz Financial Services Inc.’s holdings in Garmin were worth $7,109,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in Garmin by 2.0% during the first quarter. Vanguard Group Inc. now owns 18,425,166 shares of the scientific and technical instruments company’s stock valued at $4,000,656,000 after buying an additional 357,458 shares during the period. Invesco Ltd. lifted its holdings in Garmin by 9.0% during the first 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 lifted its holdings in Garmin by 79.3% during the first 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 lifted its holdings in Garmin by 21.2% during the first 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. lifted its holdings in Garmin by 0.3% during the first 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. Institutional investors own 81.60% of the company’s stock.

Garmin Trading Down 2.0%

GRMN stock opened at $215.23 on Friday. The company’s 50 day moving average is $242.76 and its 200 day moving average is $221.31. The stock has a market cap of $41.43 billion, a price-to-earnings ratio of 26.51, a price-to-earnings-growth ratio of 2.41 and a beta of 0.98. Garmin Ltd. has a 1-year low of $169.26 and a 1-year high of $261.69.

Garmin (NYSE:GRMN) last posted its quarterly earnings data on Wednesday, October 29th. The scientific and technical instruments company reported $1.99 earnings per share for the quarter, hitting the consensus estimate of $1.99. The company had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.78 billion. Garmin had a net margin of 22.63% and a return on equity of 19.42%. Garmin’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.99 earnings per share. Garmin has set its FY 2025 guidance at 8.150-8.150 EPS. As a group, sell-side analysts forecast that Garmin Ltd. will post 7.8 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have commented on GRMN. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Garmin in a report on Wednesday, October 8th. JPMorgan Chase & Co. increased their price target on shares of Garmin from $215.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday, July 17th. Tigress Financial increased their price target on shares of Garmin from $285.00 to $305.00 and gave the stock a “strong-buy” rating in a report on Tuesday, September 30th. Morgan Stanley increased their price target on shares of Garmin from $193.00 to $195.00 and gave the stock an “underweight” rating in a report on Thursday. Finally, Barclays increased their price target on shares of Garmin from $167.00 to $208.00 and gave the stock an “underweight” rating in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $239.50.

Insider Buying and Selling at Garmin

In related news, insider Cheng-Wei Wang sold 10,202 shares of the company’s stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $232.48, for a total value of $2,371,760.96. Following the transaction, the insider directly owned 36,092 shares in the company, valued at approximately $8,390,668.16. This represents a 22.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 15.38% of the company’s stock.

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.