Wealth Enhancement Advisory Services LLC Reduces Position in Garmin Ltd. $GRMN

Wealth Enhancement Advisory Services LLC lowered its position in Garmin Ltd. (NYSE:GRMN) by 13.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 68,369 shares of the scientific and technical instruments company’s stock after selling 10,449 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Garmin were worth $17,524,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Quaker Wealth Management LLC raised its position in 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 last quarter. Richardson Financial Services Inc. raised its holdings in shares of Garmin by 62.2% in the third quarter. Richardson Financial Services Inc. now owns 133 shares of the scientific and technical instruments company’s stock valued at $33,000 after buying an additional 51 shares during the last quarter. Tradewinds Capital Management LLC acquired a new stake in shares of Garmin during the third quarter worth about $44,000. Newbridge Financial Services Group Inc. boosted its stake in shares of Garmin by 96.9% during the second quarter. Newbridge Financial Services Group Inc. now owns 250 shares of the scientific and technical instruments company’s stock worth $52,000 after buying an additional 123 shares during the period. Finally, SJS Investment Consulting Inc. grew its holdings in shares of Garmin by 1,530.8% during the third quarter. SJS Investment Consulting Inc. now owns 212 shares of the scientific and technical instruments company’s stock worth $52,000 after buying an additional 199 shares during the last quarter. 81.60% of the stock is owned by institutional investors and hedge funds.

Garmin Stock Performance

Garmin stock opened at $206.17 on Friday. Garmin Ltd. has a fifty-two week low of $169.26 and a fifty-two week high of $261.69. The firm has a market capitalization of $39.65 billion, a price-to-earnings ratio of 25.39, a price-to-earnings-growth ratio of 2.16 and a beta of 1.00. The stock’s fifty day moving average is $202.85 and its two-hundred day moving average is $222.42.

Garmin (NYSE:GRMN) last posted its earnings results on Wednesday, October 29th. The scientific and technical instruments company reported $1.99 earnings per share for the quarter, meeting the consensus estimate of $1.99. The firm had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.78 billion. Garmin had a net margin of 22.63% and a return on equity of 19.42%. The firm’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same period last year, the firm posted $1.99 EPS. Garmin has set its FY 2025 guidance at 8.150-8.150 EPS. As a group, sell-side analysts forecast that Garmin Ltd. will post 7.8 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Tigress Financial reiterated a “strong-buy” rating on shares of Garmin in a research note on Friday, December 19th. Weiss Ratings reiterated a “buy (b)” rating on shares of Garmin in a research report on Wednesday, October 8th. Longbow Research raised shares of Garmin from a “neutral” rating to a “buy” rating and set a $250.00 price objective on the stock in a research note on Wednesday, December 3rd. Morgan Stanley raised their target price 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, Barclays raised shares of Garmin from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $208.00 to $217.00 in a report on Friday, January 16th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $244.40.

Insiders Place Their Bets

In related news, CFO Douglas G. Boessen sold 2,485 shares of the business’s stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $206.26, for a total value of $512,556.10. Following the completion of the transaction, the chief financial officer owned 28,916 shares of the company’s stock, valued at approximately $5,964,214.16. The trade was a 7.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Patrick Desbois sold 3,678 shares of the company’s stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $210.40, for a total transaction of $773,851.20. Following the completion of the transaction, the chief operating officer owned 61,798 shares in the company, valued at approximately $13,002,299.20. This trade represents a 5.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 16,594 shares of company stock valued at $3,437,592. Corporate insiders own 15.38% of the company’s stock.

Garmin Profile

Garmin Ltd. is a technology company best known for designing and manufacturing navigation, communication and information devices that leverage global positioning system (GPS) technology. The company serves a diverse set of markets including consumer fitness and wearables, automotive navigation, aviation avionics, marine electronics and outdoor handheld devices. Garmin’s products combine hardware, mapping and software services to deliver location-aware solutions for personal, recreational and professional uses.

Garmin’s product lineup includes wearable fitness and multisport watches (Forerunner, Fenix, Venu), cycling computers and accessories (Edge, Varia), handheld and handheld-mounted GPS devices for outdoor activities, automotive and portable navigation units, marine chartplotters and fishfinders, and certified avionics for fixed- and rotary-wing aircraft.