Garmin Ltd. $GRMN Shares Sold by Kestra Investment Management LLC

Kestra Investment Management LLC cut its holdings in shares of Garmin Ltd. (NYSE:GRMN) by 59.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,234 shares of the scientific and technical instruments company’s stock after selling 6,085 shares during the quarter. Kestra Investment Management LLC’s holdings in Garmin were worth $884,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Brighton Jones LLC boosted its holdings in shares of Garmin by 31.3% during the 4th quarter. Brighton Jones LLC now owns 1,943 shares of the scientific and technical instruments company’s stock worth $401,000 after purchasing an additional 463 shares during the last quarter. Public Sector Pension Investment Board lifted its position in Garmin by 8.8% during the first quarter. Public Sector Pension Investment Board now owns 20,885 shares of the scientific and technical instruments company’s stock worth $4,535,000 after buying an additional 1,696 shares in the last quarter. HighTower Advisors LLC boosted its stake in Garmin by 5.7% during the first quarter. HighTower Advisors LLC now owns 54,808 shares of the scientific and technical instruments company’s stock worth $11,900,000 after buying an additional 2,966 shares during the last quarter. Kovitz Investment Group Partners LLC grew its holdings in Garmin by 12.2% in the 1st quarter. Kovitz Investment Group Partners LLC now owns 3,382 shares of the scientific and technical instruments company’s stock valued at $734,000 after buying an additional 369 shares in the last quarter. Finally, Horizon Investments LLC increased its stake in shares of Garmin by 3.8% in the 1st quarter. Horizon Investments LLC now owns 3,540 shares of the scientific and technical instruments company’s stock worth $769,000 after acquiring an additional 131 shares during the last quarter. Hedge funds and other institutional investors own 81.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on GRMN shares. Weiss Ratings reissued a “buy (b)” rating on shares of Garmin in a research report on Wednesday, October 8th. Longbow Research upgraded shares of Garmin from a “neutral” rating to a “buy” rating and set a $250.00 target price on the stock in a report on Wednesday, December 3rd. Barclays raised 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 lifted their price target on shares of Garmin from $285.00 to $305.00 and gave the company a “strong-buy” rating in a research report on Tuesday, September 30th. Finally, Morgan Stanley increased their price objective on Garmin from $193.00 to $195.00 and gave the stock an “underweight” rating in a research report on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Garmin has an average rating of “Hold” and a consensus target price of $241.60.

Garmin Stock Performance

NYSE:GRMN opened at $208.34 on Monday. Garmin Ltd. has a fifty-two week low of $169.26 and a fifty-two week high of $261.69. The company has a 50 day moving average price of $217.81 and a 200 day moving average price of $222.41. The stock has a market capitalization of $40.07 billion, a P/E ratio of 25.66, a PEG ratio of 2.36 and a beta of 1.01.

Garmin (NYSE:GRMN) last released its quarterly earnings results on Wednesday, October 29th. The scientific and technical instruments company reported $1.99 EPS for the quarter, hitting analysts’ consensus estimates of $1.99. Garmin had a return on equity of 19.42% and a net margin of 22.63%.The company had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.78 billion. During the same period in the prior year, the firm earned $1.99 earnings per share. The firm’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. Research 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.