Garmin Ltd. $GRMN Shares Sold by Baldwin Wealth Partners LLC MA

Baldwin Wealth Partners LLC MA trimmed its holdings in shares of Garmin Ltd. (NYSE:GRMN) by 3.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,634 shares of the scientific and technical instruments company’s stock after selling 3,202 shares during the period. Garmin comprises approximately 1.3% of Baldwin Wealth Partners LLC MA’s holdings, making the stock its 21st biggest holding. Baldwin Wealth Partners LLC MA’s holdings in Garmin were worth $19,854,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Fulton Bank N.A. increased its position in Garmin by 2.6% during the second quarter. Fulton Bank N.A. now owns 1,883 shares of the scientific and technical instruments company’s stock worth $393,000 after buying an additional 47 shares in the last quarter. Smith Moore & CO. increased its position in Garmin by 4.3% during the 2nd quarter. Smith Moore & CO. now owns 1,151 shares of the scientific and technical instruments company’s stock worth $240,000 after purchasing an additional 47 shares in the last quarter. Arrow Investment Advisors LLC raised its stake in Garmin by 3.6% in the 2nd quarter. Arrow Investment Advisors LLC now owns 1,412 shares of the scientific and technical instruments company’s stock valued at $295,000 after purchasing an additional 49 shares during the last quarter. Curbstone Financial Management Corp lifted its holdings in Garmin by 1.3% in the 2nd quarter. Curbstone Financial Management Corp now owns 3,936 shares of the scientific and technical instruments company’s stock valued at $822,000 after purchasing an additional 50 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted 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 valued at $163,000 after purchasing an additional 52 shares in the last quarter. Hedge funds and other institutional investors own 81.60% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Clifton A. Pemble sold 10,431 shares of Garmin stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $206.23, for a total transaction of $2,151,185.13. Following the transaction, the chief executive officer owned 135,180 shares in the company, valued at approximately $27,878,171.40. The trade was a 7.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Douglas G. Boessen sold 2,485 shares of the company’s stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $206.26, for a total transaction of $512,556.10. Following the sale, the chief financial officer directly owned 28,916 shares of the company’s stock, valued at approximately $5,964,214.16. This trade represents a 7.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 19.54% of the company’s stock.

Wall Street Analysts Forecast Growth

GRMN has been the subject of a number of recent research reports. Barclays lifted 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, October 30th. Tigress Financial reaffirmed a “strong-buy” rating on shares of Garmin in a research report on Friday. Longbow Research upgraded Garmin from a “neutral” rating to a “buy” rating and set a $250.00 target price for the company in a research note on Wednesday, December 3rd. Morgan Stanley raised their price target on Garmin from $193.00 to $195.00 and gave the stock an “underweight” rating in a research note on Thursday, October 30th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Garmin in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $242.60.

Garmin Price Performance

NYSE GRMN opened at $201.41 on Monday. Garmin Ltd. has a 1-year low of $169.26 and a 1-year high of $261.69. The firm has a market capitalization of $38.74 billion, a P/E ratio of 24.80, a P/E/G ratio of 2.28 and a beta of 1.01. The business’s 50-day simple moving average is $212.64 and its 200-day simple moving average is $222.42.

Garmin (NYSE:GRMN) last posted its quarterly earnings results on Wednesday, October 29th. The scientific and technical instruments company reported $1.99 EPS for the quarter, meeting the consensus estimate of $1.99. The firm had revenue of $1.77 billion for the quarter, compared to analyst estimates 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 quarter last year, the firm posted $1.99 earnings per share. Garmin has set its FY 2025 guidance at 8.150-8.150 EPS. On average, equities research analysts expect that Garmin Ltd. will post 7.8 EPS for the current fiscal year.

About Garmin

Garmin Ltd. is a technology company best known for designing and manufacturing navigation, communication and information devices that leverage global positioning system (GPS) technology. The company serves a diverse set of markets including consumer fitness and wearables, automotive navigation, aviation avionics, marine electronics and outdoor handheld devices. Garmin’s products combine hardware, mapping and software services to deliver location-aware solutions for personal, recreational and professional uses.

Garmin’s product lineup includes wearable fitness and multisport watches (Forerunner, Fenix, Venu), cycling computers and accessories (Edge, Varia), handheld and handheld-mounted GPS devices for outdoor activities, automotive and portable navigation units, marine chartplotters and fishfinders, and certified avionics for fixed- and rotary-wing aircraft.