Ameritas Advisory Services LLC Has $101,000 Position in Garmin Ltd. $GRMN

Ameritas Advisory Services LLC lowered its position in Garmin Ltd. (NYSE:GRMN) by 88.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 482 shares of the scientific and technical instruments company’s stock after selling 3,632 shares during the period. Ameritas Advisory Services LLC’s holdings in Garmin were worth $101,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GRMN. Fulton Bank N.A. boosted its position in shares of Garmin by 2.6% in the second quarter. Fulton Bank N.A. now owns 1,883 shares of the scientific and technical instruments company’s stock valued at $393,000 after acquiring an additional 47 shares during the period. Arrow Investment Advisors LLC lifted its position in Garmin by 3.6% in the second quarter. Arrow Investment Advisors LLC now owns 1,412 shares of the scientific and technical instruments company’s stock worth $295,000 after purchasing an additional 49 shares during the period. MassMutual Private Wealth & Trust FSB lifted its position in Garmin by 7.1% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 783 shares of the scientific and technical instruments company’s stock worth $163,000 after purchasing an additional 52 shares during the period. SOA Wealth Advisors LLC. lifted its position in Garmin by 27.5% in the second quarter. SOA Wealth Advisors LLC. now owns 269 shares of the scientific and technical instruments company’s stock worth $56,000 after purchasing an additional 58 shares during the period. Finally, Harbour Investments Inc. lifted its position in Garmin by 31.8% in the first quarter. Harbour Investments Inc. now owns 265 shares of the scientific and technical instruments company’s stock worth $58,000 after purchasing an additional 64 shares during the period. Institutional investors and hedge funds own 81.60% of the company’s stock.

Garmin Trading Down 3.2%

GRMN opened at $248.18 on Friday. Garmin Ltd. has a 1-year low of $160.95 and a 1-year high of $261.69. The stock’s fifty day simple moving average is $238.90 and its 200 day simple moving average is $216.49. The stock has a market cap of $47.77 billion, a PE ratio of 30.60, a price-to-earnings-growth ratio of 2.81 and a beta of 0.98.

Garmin (NYSE:GRMN) last posted its quarterly 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 return on equity of 20.00% and a net margin of 23.21%.The business had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.68 billion. During the same quarter in the prior year, the business earned $1.58 EPS. The firm’s revenue for the quarter was up 20.4% on a year-over-year basis. Garmin has set its FY 2025 guidance at 8.000-8.000 EPS. Equities analysts forecast that Garmin Ltd. will post 7.8 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on GRMN shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Garmin in a research report on Wednesday. Morgan Stanley increased their price objective on Garmin from $186.00 to $193.00 and gave the stock an “underweight” rating in a research note on Friday, September 19th. Barclays reaffirmed 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. Tigress Financial lifted their price target on Garmin from $285.00 to $305.00 and gave the company a “strong-buy” rating in a report on Tuesday, September 30th. Finally, JPMorgan Chase & Co. lifted their price target on Garmin from $215.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, July 17th. One investment 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 given a Sell rating to the stock. According to MarketBeat.com, Garmin has an average rating of “Hold” and a consensus price target of $228.75.

Insiders Place Their Bets

In related news, insider Cheng-Wei Wang sold 10,202 shares of the 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 sale, the insider owned 36,092 shares in the company, valued at approximately $8,390,668.16. This represents a 22.04% decrease in their position. The transaction was disclosed in a legal filing 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.