Los Angeles Capital Management LLC Sells 5,062 Shares of Garmin Ltd. $GRMN

Los Angeles Capital Management LLC lowered its holdings in shares of Garmin Ltd. (NYSE:GRMN) by 2.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 208,307 shares of the scientific and technical instruments company’s stock after selling 5,062 shares during the period. Los Angeles Capital Management LLC owned about 0.11% of Garmin worth $43,478,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GRMN. Quaker Wealth Management LLC grew its stake in shares of Garmin by 200.0% in the 2nd quarter. Quaker Wealth Management LLC now owns 132 shares of the scientific and technical instruments company’s stock valued at $28,000 after purchasing an additional 264 shares during the period. Groupe la Francaise bought a new stake in Garmin during the 1st quarter worth approximately $33,000. Zions Bancorporation National Association UT acquired a new stake in Garmin during the 1st quarter valued at $38,000. SOA Wealth Advisors LLC. boosted its stake in Garmin by 27.5% in the second quarter. SOA Wealth Advisors LLC. now owns 269 shares of the scientific and technical instruments company’s stock worth $56,000 after purchasing an additional 58 shares in the last quarter. Finally, Park Square Financial Group LLC acquired a new position in Garmin during the 1st quarter worth about $58,000. 81.60% of the stock is owned by institutional investors.

Garmin Price Performance

Shares of Garmin stock opened at $200.91 on Friday. The company has a market capitalization of $38.64 billion, a P/E ratio of 24.74, a price-to-earnings-growth ratio of 2.41 and a beta of 1.01. The business has a 50-day moving average of $239.16 and a two-hundred day moving average of $221.99. Garmin Ltd. has a 1 year low of $169.26 and a 1 year high of $261.69.

Garmin (NYSE:GRMN) last posted its earnings results on Wednesday, October 29th. The scientific and technical instruments company reported $1.99 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.99. The business had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.78 billion. Garmin had a return on equity of 19.42% and a net margin of 22.63%.Garmin’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.99 EPS. Garmin has set its FY 2025 guidance at 8.150-8.150 EPS. On average, equities analysts anticipate that Garmin Ltd. will post 7.8 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently commented on GRMN. Barclays increased their price target on shares of Garmin from $167.00 to $208.00 and gave the company an “underweight” rating in a research note on Thursday, October 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Garmin in a research note on Wednesday, October 8th. Morgan Stanley boosted their price target on shares of Garmin from $193.00 to $195.00 and gave the stock an “underweight” rating in a research note on Thursday, October 30th. Tigress Financial increased their price objective on shares of Garmin from $285.00 to $305.00 and gave the company a “strong-buy” rating in a report on Tuesday, September 30th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Garmin from $215.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday, July 17th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $239.50.

Insider Buying and Selling

In related news, insider Cheng-Wei Wang sold 10,202 shares of the company’s stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $232.48, for a total transaction of $2,371,760.96. Following the sale, the insider owned 36,092 shares in the company, 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 legal filing with the SEC, which is accessible through this hyperlink. Insiders own 15.38% 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.