Garmin Ltd. $GRMN Shares Sold by Narwhal Capital Management

Narwhal Capital Management reduced its stake in shares of Garmin Ltd. (NYSE:GRMN) by 39.5% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 18,932 shares of the scientific and technical instruments company’s stock after selling 12,365 shares during the period. Narwhal Capital Management’s holdings in Garmin were worth $4,661,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Brighton Jones LLC raised its stake in shares of Garmin by 31.3% during the fourth quarter. Brighton Jones LLC now owns 1,943 shares of the scientific and technical instruments company’s stock valued at $401,000 after purchasing an additional 463 shares during the period. NewEdge Advisors LLC grew its holdings in Garmin by 6.2% during the 1st quarter. NewEdge Advisors LLC now owns 5,885 shares of the scientific and technical instruments company’s stock valued at $1,278,000 after purchasing an additional 345 shares in the last quarter. Woodline Partners LP grew its holdings in Garmin by 40.6% during the 1st quarter. Woodline Partners LP now owns 13,017 shares of the scientific and technical instruments company’s stock valued at $2,826,000 after purchasing an additional 3,757 shares in the last quarter. Plato Investment Management Ltd purchased a new stake in Garmin during the 1st quarter worth $78,000. Finally, Integrity Alliance LLC. lifted its holdings in Garmin by 58.0% in the 1st quarter. Integrity Alliance LLC. now owns 1,758 shares of the scientific and technical instruments company’s stock worth $382,000 after buying an additional 645 shares in the last quarter. Hedge funds and other institutional investors own 81.60% of the company’s stock.

Garmin Trading Down 0.5%

Shares of GRMN opened at $212.33 on Friday. Garmin Ltd. has a 52 week low of $169.26 and a 52 week high of $261.69. The firm has a market cap of $40.84 billion, a price-to-earnings ratio of 26.15, a PEG ratio of 2.26 and a beta of 1.00. The stock has a 50 day moving average of $201.61 and a 200-day moving average of $222.41.

Garmin (NYSE:GRMN) last posted its quarterly earnings results on Wednesday, October 29th. The scientific and technical instruments company reported $1.99 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.99. Garmin had a return on equity of 19.42% and a net margin of 22.63%.The business had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.78 billion. During the same period in the prior year, the company posted $1.99 EPS. The business’s 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. On average, sell-side analysts predict that Garmin Ltd. will post 7.8 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Weiss Ratings restated a “buy (b)” rating on shares of Garmin in a research note on Wednesday, October 8th. Morgan Stanley raised their price objective on Garmin from $193.00 to $195.00 and gave the company an “underweight” rating in a research note on Thursday, October 30th. Barclays upped their target price on Garmin from $167.00 to $208.00 and gave the company an “underweight” rating in a research report on Thursday, October 30th. Tigress Financial reissued a “strong-buy” rating on shares of Garmin in a research report on Friday, December 19th. Finally, Longbow Research upgraded shares of Garmin from a “neutral” rating to a “buy” rating and set a $250.00 price target for the company in a research note on Wednesday, December 3rd. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $242.60.

Insiders Place Their Bets

In related news, CEO Clifton A. Pemble sold 10,431 shares of the business’s stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $206.23, for a total transaction of $2,151,185.13. Following the completion of the sale, the chief executive officer owned 135,180 shares of the company’s stock, valued at $27,878,171.40. This represents a 7.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Patrick Desbois sold 3,678 shares of the firm’s stock in a transaction dated Wednesday, January 7th. The stock was 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 directly owned 61,798 shares in the company, valued at $13,002,299.20. This represents a 5.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 16,594 shares of company stock valued at $3,437,592. Company insiders own 15.38% of the company’s stock.

Garmin Company 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.