Farmers & Merchants Investments Inc. Sells 251 Shares of Garmin Ltd. $GRMN

Farmers & Merchants Investments Inc. lowered its stake in shares of Garmin Ltd. (NYSE:GRMN) by 7.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,960 shares of the scientific and technical instruments company’s stock after selling 251 shares during the period. Farmers & Merchants Investments Inc.’s holdings in Garmin were worth $618,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in Garmin by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 18,425,166 shares of the scientific and technical instruments company’s stock worth $4,000,656,000 after acquiring an additional 357,458 shares during the last quarter. Invesco Ltd. raised its holdings in Garmin by 9.0% in the first quarter. Invesco Ltd. now owns 1,862,153 shares of the scientific and technical instruments company’s stock worth $404,329,000 after purchasing an additional 153,267 shares during the period. AQR Capital Management LLC raised its holdings in Garmin by 79.3% in the first quarter. AQR Capital Management LLC now owns 1,585,170 shares of the scientific and technical instruments company’s stock worth $340,574,000 after purchasing an additional 700,967 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Garmin by 21.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,210,827 shares of the scientific and technical instruments company’s stock worth $262,907,000 after purchasing an additional 211,731 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Garmin by 0.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 892,606 shares of the scientific and technical instruments company’s stock valued at $193,812,000 after buying an additional 2,768 shares during the period. 81.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on GRMN shares. Barclays reaffirmed 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. Morgan Stanley raised their price target on Garmin from $186.00 to $193.00 and gave the stock an “underweight” rating in a research report on Friday. Finally, JPMorgan Chase & Co. lifted their price objective on Garmin from $215.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, July 17th. One research analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Garmin currently has an average rating of “Hold” and a consensus price target of $223.75.

Garmin Price Performance

Shares of GRMN opened at $236.27 on Tuesday. The company has a market cap of $45.48 billion, a PE ratio of 29.13, a price-to-earnings-growth ratio of 2.58 and a beta of 1.00. The firm has a 50-day moving average of $232.66 and a 200-day moving average of $212.92. Garmin Ltd. has a one year low of $160.94 and a one year high of $246.50.

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

Insider Transactions at Garmin

In other news, CFO Douglas G. Boessen sold 1,859 shares of the firm’s stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $215.00, for a total transaction of $399,685.00. Following the completion of the sale, the chief financial officer owned 29,146 shares in the company, valued at approximately $6,266,390. This trade represents a 6.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Cheng-Wei Wang sold 10,202 shares of the company’s stock in a transaction dated 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 transaction, the insider 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 disclosure for this sale can be found here. Company insiders own 19.54% of the company’s stock.

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.