Argentarii LLC Sells 85 Shares of Garmin Ltd. $GRMN

Argentarii LLC cut its holdings in Garmin Ltd. (NYSE:GRMN) by 7.1% in the second quarter, Holdings Channel reports. The fund owned 1,111 shares of the scientific and technical instruments company’s stock after selling 85 shares during the quarter. Argentarii LLC’s holdings in Garmin were worth $232,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC raised its holdings in shares of Garmin by 5.7% in the 2nd quarter. GAMMA Investing LLC now owns 4,309 shares of the scientific and technical instruments company’s stock valued at $899,000 after purchasing an additional 231 shares in the last quarter. ABLE Financial Group LLC boosted its stake in shares of Garmin by 7.8% during the second quarter. ABLE Financial Group LLC now owns 2,858 shares of the scientific and technical instruments company’s stock valued at $597,000 after purchasing an additional 208 shares in the last quarter. U.S. Capital Wealth Advisors LLC increased its holdings in Garmin by 1.1% during the second quarter. U.S. Capital Wealth Advisors LLC now owns 35,806 shares of the scientific and technical instruments company’s stock valued at $7,473,000 after buying an additional 377 shares during the period. Arrow Investment Advisors LLC raised its stake in Garmin by 3.6% in the second quarter. Arrow Investment Advisors LLC now owns 1,412 shares of the scientific and technical instruments company’s stock worth $295,000 after buying an additional 49 shares in the last quarter. Finally, Financiere des Professionnels Fonds d investissement inc. bought a new position in Garmin in the second quarter worth approximately $152,000. Hedge funds and other institutional investors own 81.60% of the company’s stock.

Garmin Stock Up 0.5%

Shares of NYSE GRMN opened at $236.27 on Tuesday. Garmin Ltd. has a 52 week low of $160.94 and a 52 week high of $246.50. The business’s 50 day moving average price is $232.66 and its 200 day moving average price is $212.92. The firm has a market cap of $45.48 billion, a P/E ratio of 29.13, a P/E/G ratio of 2.58 and a beta of 1.00.

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

Insiders Place Their Bets

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 value of $2,371,760.96. Following the sale, the insider directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Douglas G. Boessen sold 1,859 shares of the stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $215.00, for a total value of $399,685.00. Following the sale, the chief financial officer directly owned 29,146 shares in the company, valued at $6,266,390. This represents a 6.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 19.54% of the company’s stock.

Wall Street Analyst Weigh In

GRMN has been the topic of several recent research reports. JPMorgan Chase & Co. increased their target price on Garmin from $215.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday, July 17th. Barclays restated an “underweight” rating and set a $167.00 price objective (up from $152.00) on shares of Garmin in a research note on Wednesday, July 30th. Finally, Morgan Stanley lifted their target price on Garmin from $186.00 to $193.00 and gave the company an “underweight” rating in a research note on Friday. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Garmin has an average rating of “Hold” and a consensus target price of $223.75.

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.