First Pacific Financial Sells 567 Shares of Garmin Ltd. $GRMN

First Pacific Financial cut its stake in Garmin Ltd. (NYSE:GRMN) by 8.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,961 shares of the scientific and technical instruments company’s stock after selling 567 shares during the period. First Pacific Financial’s holdings in Garmin were worth $1,244,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Kestra Private Wealth Services LLC boosted its position in Garmin by 18.7% in the 1st quarter. Kestra Private Wealth Services LLC now owns 8,559 shares of the scientific and technical instruments company’s stock valued at $1,858,000 after buying an additional 1,347 shares during the last quarter. Concurrent Investment Advisors LLC raised its holdings in 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 purchasing an additional 437 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Garmin by 46.7% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 89,715 shares of the scientific and technical instruments company’s stock worth $19,480,000 after purchasing an additional 28,543 shares during the last quarter. Acadian Asset Management LLC raised its holdings in 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 purchasing an additional 5,089 shares during the last quarter. Finally, First Hawaiian Bank bought a new stake in Garmin during the 1st quarter worth about $1,649,000. 81.60% of the stock is currently owned by institutional investors.

Garmin Stock Up 0.3%

Shares of GRMN stock opened at $246.21 on Wednesday. The firm has a fifty day moving average of $234.62 and a 200-day moving average of $214.05. Garmin Ltd. has a 12-month low of $160.94 and a 12-month high of $246.65. The company has a market capitalization of $47.39 billion, a price-to-earnings ratio of 30.36, a P/E/G ratio of 2.69 and a beta of 1.00.

Garmin (NYSE:GRMN) last issued its quarterly earnings results on Wednesday, July 30th. The scientific and technical instruments company reported $2.17 EPS for the quarter, beating analysts’ consensus estimates of $1.90 by $0.27. The company had revenue of $1.81 billion for the quarter, compared to analyst estimates 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 company posted $1.58 earnings per share. 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.

Insider Activity at Garmin

In related news, insider Cheng-Wei Wang sold 10,202 shares of the business’s stock in a transaction on 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 $8,390,668.16. The trade was a 22.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Douglas G. Boessen sold 1,859 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief financial officer owned 29,146 shares of the company’s stock, valued at approximately $6,266,390. This trade represents a 6.00% decrease in their position. The disclosure for this sale can be found here. 19.54% of the stock is owned by company insiders.

Analyst Ratings Changes

GRMN has been the topic of a number of recent research reports. Tigress Financial raised their price objective on shares of Garmin from $285.00 to $305.00 and gave the company a “strong-buy” rating in a research note on Tuesday. Barclays reiterated an “underweight” rating and issued a $167.00 price objective (up previously from $152.00) on shares of Garmin in a report on Wednesday, July 30th. JPMorgan Chase & Co. upped 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. Finally, Morgan Stanley lifted their price objective on shares of Garmin from $186.00 to $193.00 and gave the stock an “underweight” rating in a research note on Friday, September 19th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $228.75.

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.