Garmin Ltd. $GRMN Position Reduced by Wincap Financial LLC

Wincap Financial LLC trimmed its position in Garmin Ltd. (NYSE:GRMN) by 7.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,615 shares of the scientific and technical instruments company’s stock after selling 216 shares during the period. Wincap Financial LLC’s holdings in Garmin were worth $546,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of GRMN. Groupe la Francaise bought a new stake in shares of Garmin in the 1st quarter worth $33,000. Wayfinding Financial LLC acquired a new position in Garmin during the first quarter worth about $34,000. Zions Bancorporation National Association UT bought a new stake in Garmin in the first quarter worth about $38,000. Olde Wealth Management LLC bought a new stake in Garmin in the first quarter worth about $43,000. Finally, SOA Wealth Advisors LLC. lifted its holdings in Garmin by 27.5% in the 2nd quarter. SOA Wealth Advisors LLC. now owns 269 shares of the scientific and technical instruments company’s stock valued at $56,000 after acquiring an additional 58 shares during the last quarter. 81.60% of the stock is currently owned by institutional investors and hedge funds.

Garmin Stock Performance

Shares of NYSE:GRMN opened at $251.57 on Tuesday. The firm has a 50 day simple moving average of $242.95 and a 200 day simple moving average of $220.71. Garmin Ltd. has a 52 week low of $163.11 and a 52 week high of $261.69. The company has a market cap of $48.43 billion, a PE ratio of 31.02, a price-to-earnings-growth ratio of 2.74 and a beta of 0.98.

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

Insider Transactions at Garmin

In related news, insider Cheng-Wei Wang sold 10,202 shares of the stock in a transaction dated 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 sale, the insider directly owned 36,092 shares of the company’s stock, valued at approximately $8,390,668.16. This represents a 22.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 15.38% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on GRMN. 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. Barclays restated an “underweight” rating and set a $167.00 target price (up from $152.00) on shares of Garmin in a report on Wednesday, July 30th. Tigress Financial lifted their price target on shares of Garmin from $285.00 to $305.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, September 30th. JPMorgan Chase & Co. increased their price objective on Garmin from $215.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday, July 17th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Garmin in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and two have assigned 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 $228.75.

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.