Garmin Ltd. $GRMN Shares Sold by MGO One Seven LLC

MGO One Seven LLC lowered its stake in Garmin Ltd. (NYSE:GRMN) by 9.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,459 shares of the scientific and technical instruments company’s stock after selling 152 shares during the period. MGO One Seven LLC’s holdings in Garmin were worth $304,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of GRMN. Groupe la Francaise acquired a new stake in Garmin in the 1st quarter valued at about $33,000. TFC Financial Management Inc. increased its holdings in shares of Garmin by 1,633.3% in the 1st quarter. TFC Financial Management Inc. now owns 156 shares of the scientific and technical instruments company’s stock valued at $34,000 after acquiring an additional 147 shares during the last quarter. Wayfinding Financial LLC purchased a new position in shares of Garmin in the 1st quarter valued at about $34,000. Zions Bancorporation National Association UT purchased a new position in shares of Garmin in the 1st quarter valued at about $38,000. Finally, Garde Capital Inc. purchased a new position in shares of Garmin in the 1st quarter valued at about $40,000. Institutional investors and hedge funds own 81.60% of the company’s stock.

Insider Buying and Selling at Garmin

In other Garmin news, insider Cheng-Wei Wang sold 10,202 shares of Garmin stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $232.48, for a total value of $2,371,760.96. Following the transaction, the insider directly owned 36,092 shares in the company, valued at approximately $8,390,668.16. This trade represents a 22.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 19.54% of the company’s stock.

Wall Street Analyst Weigh In

GRMN has been the topic of a number of recent analyst reports. Morgan Stanley increased their price objective on Garmin from $186.00 to $193.00 and gave the company an “underweight” rating in a report on Friday, September 19th. Barclays reiterated an “underweight” rating and issued a $167.00 price objective (up previously from $152.00) on shares of Garmin in a report on Wednesday, July 30th. Tigress Financial increased their price objective on Garmin from $285.00 to $305.00 and gave the company a “strong-buy” rating in a report on Tuesday, September 30th. Weiss Ratings restated a “buy (b)” rating on shares of Garmin in a research note on Wednesday, October 8th. Finally, JPMorgan Chase & Co. raised their price target on Garmin from $215.00 to $250.00 and gave the stock a “neutral” rating in a research note on Thursday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $228.75.

Garmin Stock Up 1.0%

NYSE:GRMN opened at $249.20 on Monday. The stock’s 50 day moving average price is $240.92 and its 200 day moving average price is $217.84. The company has a market capitalization of $47.97 billion, a PE ratio of 30.73, a P/E/G ratio of 2.73 and a beta of 0.98. Garmin Ltd. has a 52-week low of $160.95 and a 52-week high of $261.69.

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