Garmin Ltd. $GRMN Shares Sold by AGF Management Ltd.

AGF Management Ltd. cut its stake in shares of Garmin Ltd. (NYSE:GRMN) by 43.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,136 shares of the scientific and technical instruments company’s stock after selling 25,098 shares during the quarter. AGF Management Ltd.’s holdings in Garmin were worth $6,707,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GRMN. Fulton Bank N.A. grew its stake in Garmin by 2.6% during the 2nd quarter. Fulton Bank N.A. now owns 1,883 shares of the scientific and technical instruments company’s stock valued at $393,000 after purchasing an additional 47 shares during the last quarter. Arrow Investment Advisors LLC lifted its holdings in shares of Garmin by 3.6% during 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. Curbstone Financial Management Corp boosted its position in Garmin by 1.3% in the second quarter. Curbstone Financial Management Corp now owns 3,936 shares of the scientific and technical instruments company’s stock valued at $822,000 after buying an additional 50 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings in Garmin by 7.1% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 783 shares of the scientific and technical instruments company’s stock worth $163,000 after buying an additional 52 shares during the period. Finally, SOA Wealth Advisors LLC. raised its position in Garmin by 27.5% during the 2nd quarter. SOA Wealth Advisors LLC. now owns 269 shares of the scientific and technical instruments company’s stock worth $56,000 after buying an additional 58 shares during the last quarter. Hedge funds and other institutional investors own 81.60% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on GRMN. JPMorgan Chase & Co. upped their price objective on shares of Garmin from $215.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, July 17th. Tigress Financial increased their price target on Garmin from $285.00 to $305.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, September 30th. Barclays lifted their price objective on Garmin from $167.00 to $208.00 and gave the company an “underweight” rating in a research note on Thursday, October 30th. Weiss Ratings restated a “buy (b)” rating on shares of Garmin in a research note on Wednesday, October 8th. Finally, Morgan Stanley lifted their price target on Garmin from $193.00 to $195.00 and gave the company an “underweight” rating in a research report on Thursday, October 30th. 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 company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $239.50.

Garmin Trading Down 1.5%

Shares of Garmin stock opened at $200.91 on Monday. Garmin Ltd. has a twelve month low of $169.26 and a twelve month high of $261.69. The firm has a market capitalization of $38.64 billion, a PE ratio of 24.74, a P/E/G ratio of 2.41 and a beta of 1.01. The firm’s 50-day moving average price is $239.16 and its 200 day moving average price is $222.41.

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

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 transaction, the insider owned 36,092 shares in the company, valued at approximately $8,390,668.16. This trade represents a 22.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate 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.