Garmin Ltd. $GRMN Shares Sold by American Century Companies Inc.

American Century Companies Inc. lessened its stake in Garmin Ltd. (NYSE:GRMN) by 13.2% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 52,926 shares of the scientific and technical instruments company’s stock after selling 8,051 shares during the period. American Century Companies Inc.’s holdings in Garmin were worth $11,047,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the company. Quaker Wealth Management LLC boosted its holdings in shares of Garmin by 200.0% in the second quarter. Quaker Wealth Management LLC now owns 132 shares of the scientific and technical instruments company’s stock valued at $28,000 after acquiring an additional 264 shares in the last quarter. Groupe la Francaise acquired a new position in Garmin during the first quarter worth $33,000. Zions Bancorporation National Association UT purchased a new position in Garmin in the first quarter worth $38,000. Harbour Investments Inc. lifted its holdings 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 valued at $58,000 after acquiring an additional 64 shares during the period. Finally, SOA Wealth Advisors LLC. boosted its position in shares of 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 purchasing an additional 58 shares in the last quarter. Hedge funds and other institutional investors own 81.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on GRMN shares. Longbow Research upgraded shares of Garmin from a “neutral” rating to a “buy” rating and set a $250.00 price target for the company in a report on Wednesday. Barclays lifted their price target on Garmin from $167.00 to $208.00 and gave the stock an “underweight” rating in a research note on Thursday, October 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Garmin in a research note on Wednesday, October 8th. Morgan Stanley lifted their target price on shares of Garmin from $193.00 to $195.00 and gave the stock an “underweight” rating in a research report on Thursday, October 30th. Finally, Tigress Financial upped their price target on shares of Garmin from $285.00 to $305.00 and gave the company a “strong-buy” rating in a report on Tuesday, September 30th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $241.60.

Garmin Trading Up 1.4%

Shares of GRMN opened at $202.18 on Friday. The stock’s fifty day simple moving average is $223.13 and its 200 day simple moving average is $221.98. The firm has a market capitalization of $38.89 billion, a P/E ratio of 24.90, a price-to-earnings-growth ratio of 2.26 and a beta of 1.01. Garmin Ltd. has a twelve month low of $169.26 and a twelve month high of $261.69.

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

Garmin Company 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.