Blue Trust Inc. Has $38,000 Stock Position in Garmin Ltd. $GRMN

Blue Trust Inc. reduced its position in shares of Garmin Ltd. (NYSE:GRMN) by 26.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 180 shares of the scientific and technical instruments company’s stock after selling 65 shares during the period. Blue Trust Inc.’s holdings in Garmin were worth $38,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Kestra Private Wealth Services LLC raised its position in Garmin by 18.7% during the first quarter. Kestra Private Wealth Services LLC now owns 8,559 shares of the scientific and technical instruments company’s stock valued at $1,858,000 after purchasing an additional 1,347 shares in the last quarter. Concurrent Investment Advisors LLC grew its stake in shares of Garmin by 23.4% during the first quarter. Concurrent Investment Advisors LLC now owns 2,304 shares of the scientific and technical instruments company’s stock worth $500,000 after buying an additional 437 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Garmin by 46.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 89,715 shares of the scientific and technical instruments company’s stock worth $19,480,000 after buying an additional 28,543 shares during the last quarter. First Hawaiian Bank bought a new stake in shares of Garmin during the first quarter worth $1,649,000. Finally, Acadian Asset Management LLC grew its stake in shares of Garmin by 7.2% during the first quarter. Acadian Asset Management LLC now owns 75,428 shares of the scientific and technical instruments company’s stock worth $16,368,000 after buying an additional 5,089 shares during the last quarter. 81.60% of the stock is currently owned by institutional investors and hedge funds.

Garmin Trading Up 1.0%

Shares of GRMN opened at $249.20 on Friday. The stock has a market capitalization of $47.97 billion, a P/E ratio of 30.73, a price-to-earnings-growth ratio of 2.73 and a beta of 0.98. The firm’s fifty day simple moving average is $240.92 and its two-hundred day simple moving average is $217.62. Garmin Ltd. has a 12 month low of $160.95 and a 12 month high of $261.69.

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

Analysts Set New Price Targets

A number of research firms have weighed in on GRMN. Tigress Financial boosted their target price on shares of Garmin from $285.00 to $305.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, September 30th. Barclays reaffirmed an “underweight” rating and set a $167.00 target price (up previously from $152.00) on shares of Garmin in a research note on Wednesday, July 30th. Morgan Stanley boosted their target price 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. JPMorgan Chase & Co. boosted their target price on shares of Garmin from $215.00 to $250.00 and gave the stock a “neutral” rating in a research note on Thursday, July 17th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Garmin in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $228.75.

Insider Buying and Selling

In other Garmin news, insider Cheng-Wei Wang sold 10,202 shares of the company’s stock in a transaction on 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 sale, the insider owned 36,092 shares of the company’s stock, valued at approximately $8,390,668.16. This represents a 22.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 15.38% of the company’s stock.

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.