William Allan Corp Sells 102 Shares of Garmin Ltd. $GRMN

William Allan Corp trimmed its stake in Garmin Ltd. (NYSE:GRMN) by 1.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,480 shares of the scientific and technical instruments company’s stock after selling 102 shares during the quarter. William Allan Corp’s holdings in Garmin were worth $1,979,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Kestra Private Wealth Services LLC boosted its stake in shares of Garmin by 18.7% during the 1st quarter. Kestra Private Wealth Services LLC now owns 8,559 shares of the scientific and technical instruments company’s stock worth $1,858,000 after acquiring an additional 1,347 shares during the period. Concurrent Investment Advisors LLC boosted its stake in shares of Garmin by 23.4% during the 1st quarter. Concurrent Investment Advisors LLC now owns 2,304 shares of the scientific and technical instruments company’s stock worth $500,000 after acquiring an additional 437 shares during the period. Nordea Investment Management AB boosted its stake in shares of Garmin by 47.8% during the 2nd quarter. Nordea Investment Management AB now owns 78,525 shares of the scientific and technical instruments company’s stock worth $16,266,000 after acquiring an additional 25,410 shares during the period. First Hawaiian Bank bought a new position in shares of Garmin during the 1st quarter worth approximately $1,649,000. Finally, Acadian Asset Management LLC boosted its stake in shares of Garmin by 7.2% during the 1st quarter. Acadian Asset Management LLC now owns 75,428 shares of the scientific and technical instruments company’s stock worth $16,368,000 after acquiring an additional 5,089 shares during the period. 81.60% of the stock is currently owned by institutional investors.

Garmin Price Performance

Shares of NYSE GRMN opened at $251.57 on Tuesday. The stock has a market capitalization of $48.43 billion, a PE ratio of 31.02, a P/E/G ratio of 2.74 and a beta of 0.98. The business has a fifty day moving average price of $242.95 and a two-hundred day moving average price of $220.71. Garmin Ltd. has a fifty-two week low of $163.11 and a fifty-two week high of $261.69.

Garmin (NYSE:GRMN) last announced its quarterly earnings data 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. The firm had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.68 billion. Garmin had a return on equity of 20.00% and a net margin of 23.21%.The company’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.58 EPS. Garmin has set its FY 2025 guidance at 8.000-8.000 EPS. On average, equities analysts expect that Garmin Ltd. will post 7.8 EPS for the current year.

Insiders Place Their Bets

In other Garmin news, insider Cheng-Wei Wang sold 10,202 shares of Garmin stock in a transaction 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 completion of the transaction, the insider directly owned 36,092 shares of the company’s stock, valued at $8,390,668.16. The trade was a 22.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 15.38% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on GRMN. Morgan Stanley lifted their target price on Garmin from $186.00 to $193.00 and gave the stock an “underweight” rating in a research note on Friday, September 19th. Tigress Financial lifted their target price on Garmin from $285.00 to $305.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, September 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Garmin in a report on Wednesday, October 8th. JPMorgan Chase & Co. lifted their price target on Garmin from $215.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday, July 17th. Finally, Barclays reissued an “underweight” rating and set a $167.00 price target (up from $152.00) on shares of Garmin in a report on Wednesday, July 30th. One investment 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $228.75.

About Garmin

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.