Farther Finance Advisors LLC Trims Holdings in Garmin Ltd. $GRMN

Farther Finance Advisors LLC decreased its holdings in Garmin Ltd. (NYSE:GRMN) by 16.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,217 shares of the scientific and technical instruments company’s stock after selling 241 shares during the quarter. Farther Finance Advisors LLC’s holdings in Garmin were worth $254,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Groupe la Francaise acquired a new position in Garmin in the 1st quarter valued at $33,000. TFC Financial Management Inc. increased its stake in Garmin by 1,633.3% in 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 buying an additional 147 shares during the period. Wayfinding Financial LLC acquired a new position in Garmin in the 1st quarter valued at $34,000. Zions Bancorporation National Association UT acquired a new position in Garmin in the 1st quarter valued at $38,000. Finally, Garde Capital Inc. acquired a new position in Garmin in the 1st quarter valued at $40,000. 81.60% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

GRMN has been the topic of several recent research reports. JPMorgan Chase & Co. boosted their price objective on shares of Garmin from $215.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, July 17th. Tigress Financial boosted their price objective on shares of Garmin from $285.00 to $305.00 and gave the company a “strong-buy” rating in a research note on Tuesday. Morgan Stanley upped their price target 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. Finally, Barclays reaffirmed an “underweight” rating and set a $167.00 price target (up from $152.00) on shares of Garmin in a research note on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $228.75.

Insider Activity

In other news, insider Cheng-Wei Wang sold 10,202 shares of the stock in a transaction dated 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 transaction, the insider directly owned 36,092 shares in the company, valued at $8,390,668.16. This represents a 22.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Douglas G. Boessen sold 1,859 shares of the stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $215.00, for a total transaction of $399,685.00. Following the transaction, the chief financial officer owned 29,146 shares in the company, valued at approximately $6,266,390. The trade was a 6.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 19.54% of the company’s stock.

Garmin Trading Up 0.3%

NYSE:GRMN opened at $246.21 on Wednesday. The firm has a market cap of $47.39 billion, a price-to-earnings ratio of 30.36, a price-to-earnings-growth ratio of 2.69 and a beta of 1.00. The company’s 50-day moving average is $234.62 and its two-hundred day moving average is $214.05. Garmin Ltd. has a 12-month low of $160.94 and a 12-month high of $246.65.

Garmin (NYSE:GRMN) last released its earnings results on Wednesday, July 30th. The scientific and technical instruments company reported $2.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.90 by $0.27. The company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.68 billion. Garmin had a net margin of 23.21% and a return on equity of 20.00%. The firm’s quarterly revenue was up 20.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.58 EPS. Garmin has set its FY 2025 guidance at 8.000-8.000 EPS. On average, equities research analysts forecast that Garmin Ltd. will post 7.8 earnings per share for the current fiscal year.

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.