Empirical Asset Management LLC Sells 3,997 Shares of Garmin Ltd. $GRMN

Key Points

• Empirical Asset Management LLC reduced its stake in Garmin Ltd. by 57.3%, selling 3,997 shares and now holding 2,983 shares valued at $623,000.
• Several institutional investors have increased their positions in Garmin, with Moran Wealth Management LLC notably raising its stake by 35.8%, owning 178,135 shares valued at $37.18 million.
• Analyst ratings for Garmin vary, with Barclays maintaining an "underweight" rating and a $167 target, while Tigress Financial upgraded their target to $305, reflecting mixed views on the stock's performance.

Empirical Asset Management LLC lowered its position in shares of Garmin Ltd. (NYSE:GRMN - Free Report) by 57.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,983 shares of the scientific and technical instruments company's stock after selling 3,997 shares during the period. Empirical Asset Management LLC's holdings in Garmin were worth $623,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. S Bank Fund Management Ltd bought a new stake in shares of Garmin during the second quarter valued at approximately $795,000. Barlow Wealth Partners Inc. increased its position in shares of Garmin by 1.2% during the second quarter. Barlow Wealth Partners Inc. now owns 73,408 shares of the scientific and technical instruments company's stock valued at $15,665,000 after acquiring an additional 896 shares in the last quarter. Turtle Creek Wealth Advisors LLC increased its position in shares of Garmin by 10.5% during the second quarter. Turtle Creek Wealth Advisors LLC now owns 27,188 shares of the scientific and technical instruments company's stock valued at $5,675,000 after acquiring an additional 2,580 shares in the last quarter. Sagespring Wealth Partners LLC increased its position in shares of Garmin by 7.5% during the second quarter. Sagespring Wealth Partners LLC now owns 1,198 shares of the scientific and technical instruments company's stock valued at $250,000 after acquiring an additional 84 shares in the last quarter. Finally, Moran Wealth Management LLC increased its position in shares of Garmin by 35.8% during the second quarter. Moran Wealth Management LLC now owns 178,135 shares of the scientific and technical instruments company's stock valued at $37,180,000 after acquiring an additional 47,002 shares in the last quarter. Institutional investors own 81.60% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Barclays reissued an "underweight" rating and set a $167.00 price target (up previously from $152.00) on shares of Garmin in a research report on Wednesday, July 30th. JPMorgan Chase & Co. lifted their target price on shares of Garmin from $215.00 to $250.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Garmin in a research report on Wednesday, October 8th. Morgan Stanley lifted their target price on shares of Garmin from $186.00 to $193.00 and gave the stock an "underweight" rating in a research report on Friday, September 19th. Finally, Tigress Financial lifted their target price 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. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $228.75.

Insider Buying and Selling at Garmin

In other news, insider Cheng-Wei Wang sold 10,202 shares of Garmin stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $232.48, for a total transaction of $2,371,760.96. Following the transaction, the insider owned 36,092 shares in the company, valued at $8,390,668.16. This trade represents a 22.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 15.38% of the stock is owned by corporate insiders.

Garmin Price Performance

Shares of Garmin stock opened at $246.56 on Friday. The company's fifty day simple moving average is $240.58 and its 200-day simple moving average is $217.40. The stock has a market capitalization of $47.46 billion, a PE ratio of 30.40, a P/E/G ratio of 2.73 and a beta of 0.98. Garmin Ltd. has a 1-year low of $160.95 and a 1-year high of $261.69.

Garmin (NYSE:GRMN - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The scientific and technical instruments company reported $2.17 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.27. The business had revenue of $1.81 billion for the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same quarter last year, the company posted $1.58 EPS. Garmin has set its FY 2025 guidance at 8.000-8.000 EPS. As a group, research analysts anticipate that Garmin Ltd. will post 7.8 EPS for the current year.

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.

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