Universal Beteiligungs und Servicegesellschaft mbH Decreases Stock Holdings in Garmin Ltd. $GRMN

Universal Beteiligungs und Servicegesellschaft mbH decreased its stake in shares of Garmin Ltd. (NYSE:GRMN) by 18.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 132,051 shares of the scientific and technical instruments company’s stock after selling 30,558 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH’s holdings in Garmin were worth $27,562,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. AQR Capital Management LLC raised its stake in Garmin by 79.3% during the 1st quarter. AQR Capital Management LLC now owns 1,585,170 shares of the scientific and technical instruments company’s stock valued at $340,574,000 after buying an additional 700,967 shares during the last quarter. Nuveen LLC bought a new stake in shares of Garmin in the first quarter worth $78,900,000. Vanguard Group Inc. increased its position in Garmin by 2.0% during the first quarter. Vanguard Group Inc. now owns 18,425,166 shares of the scientific and technical instruments company’s stock valued at $4,000,656,000 after acquiring an additional 357,458 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Garmin by 21.2% in 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 valued at $262,907,000 after acquiring an additional 211,731 shares during the period. Finally, Clark Capital Management Group Inc. bought a new position in Garmin in the first quarter valued at about $40,322,000. Hedge funds and other institutional investors own 81.60% of the company’s stock.

Garmin Price Performance

GRMN opened at $189.73 on Tuesday. The company has a 50 day simple moving average of $234.20 and a two-hundred day simple moving average of $222.43. The firm has a market cap of $36.49 billion, a P/E ratio of 23.37, a PEG ratio of 2.41 and a beta of 1.01. Garmin Ltd. has a 1-year low of $169.26 and a 1-year high of $261.69.

Garmin (NYSE:GRMN) last issued its earnings results on Wednesday, October 29th. The scientific and technical instruments company reported $1.99 earnings per share for the quarter, hitting the consensus estimate of $1.99. Garmin had a net margin of 22.63% and a return on equity of 19.42%. The company had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.78 billion. During the same quarter in the prior year, the firm posted $1.99 EPS. Garmin’s quarterly 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. Equities analysts anticipate 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 stock in a transaction that occurred on 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 sale, the insider directly owned 36,092 shares of the company’s stock, valued at $8,390,668.16. This trade represents a 22.04% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 15.38% of the stock is owned by insiders.

Wall Street Analyst Weigh In

GRMN has been the subject of a number of recent research reports. Barclays boosted their price target on Garmin from $167.00 to $208.00 and gave the company an “underweight” rating in a research note on Thursday, October 30th. Weiss Ratings restated a “buy (b)” rating on shares of Garmin in a research report on Wednesday, October 8th. Morgan Stanley lifted 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. Finally, Tigress Financial upped their price objective on Garmin from $285.00 to $305.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, September 30th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $239.50.

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.