Garmin Ltd. $GRMN Shares Acquired by Unison Advisors LLC

Unison Advisors LLC grew its stake in Garmin Ltd. (NYSE:GRMN) by 0.4% during the second quarter, HoldingsChannel.com reports. The firm owned 28,123 shares of the scientific and technical instruments company’s stock after purchasing an additional 115 shares during the period. Garmin makes up approximately 0.7% of Unison Advisors LLC’s holdings, making the stock its 20th biggest holding. Unison Advisors LLC’s holdings in Garmin were worth $5,870,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Groupe la Francaise acquired a new stake in Garmin during the first quarter worth about $33,000. TFC Financial Management Inc. raised its stake in Garmin by 1,633.3% during the first quarter. TFC Financial Management Inc. now owns 156 shares of the scientific and technical instruments company’s stock worth $34,000 after acquiring an additional 147 shares during the period. Wayfinding Financial LLC acquired a new stake in Garmin during the first quarter worth about $34,000. Zions Bancorporation National Association UT acquired a new stake in Garmin during the first quarter worth about $38,000. Finally, Garde Capital Inc. acquired a new stake in Garmin during the first quarter worth about $40,000. Institutional investors and hedge funds own 81.60% of the company’s stock.

Insider Buying and Selling

In related news, insider Cheng-Wei Wang sold 10,202 shares of the stock in a transaction that occurred 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 completion of the sale, the insider directly owned 36,092 shares of the company’s stock, valued at $8,390,668.16. This represents a 22.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 19.54% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Barclays reiterated an “underweight” rating and set a $167.00 price objective (up previously from $152.00) on shares of Garmin in a research note on Wednesday, July 30th. JPMorgan Chase & Co. upped their target price on shares of Garmin from $215.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, July 17th. Weiss Ratings restated a “buy (b)” rating on shares of Garmin in a research report on Wednesday, October 8th. Tigress Financial upped their target price on shares of Garmin from $285.00 to $305.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, September 30th. Finally, Morgan Stanley upped their target price on shares of Garmin from $186.00 to $193.00 and gave the stock an “underweight” rating in a research report on Friday, September 19th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $228.75.

Garmin Price Performance

Garmin stock opened at $249.20 on Monday. The firm has a 50 day simple moving average of $240.92 and a 200-day simple moving average of $217.84. The stock has a market capitalization of $47.97 billion, a PE ratio of 30.73, a price-to-earnings-growth ratio of 2.73 and a beta of 0.98. Garmin Ltd. has a 12-month low of $160.95 and a 12-month high of $261.69.

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

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.