Garmin Ltd. $GRMN Shares Sold by Faithward Advisors LLC

Key Points

• Faithward Advisors LLC has reduced its stake in Garmin Ltd. by 5.2%, holding $5.69 million in shares, making Garmin the 21st largest position in its portfolio.
• A number of institutional investors are increasing their stakes in Garmin, with GAMMA Investing LLC growing its position by 25,047.9% in the first quarter.
• Garmin recently reported earnings of $2.17 per share, surpassing analysts' expectations, and has set its FY 2025 guidance at 8.000-8.000 EPS.

Faithward Advisors LLC cut its holdings in Garmin Ltd. (NYSE:GRMN - Free Report) by 5.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 26,203 shares of the scientific and technical instruments company's stock after selling 1,451 shares during the quarter. Garmin accounts for approximately 1.0% of Faithward Advisors LLC's investment portfolio, making the stock its 21st largest position. Faithward Advisors LLC's holdings in Garmin were worth $5,689,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Groupe la Francaise bought a new position in Garmin during the first quarter valued at $33,000. TFC Financial Management Inc. increased its holdings in shares of Garmin by 1,633.3% in the 1st quarter. TFC Financial Management Inc. now owns 156 shares of the scientific and technical instruments company's stock worth $34,000 after buying an additional 147 shares during the last quarter. Wayfinding Financial LLC purchased a new stake in shares of Garmin during the 1st quarter valued at about $34,000. Zions Bancorporation National Association UT bought a new position in shares of Garmin in the 1st quarter valued at about $38,000. Finally, Garde Capital Inc. purchased a new position in shares of Garmin in the 1st quarter worth approximately $40,000. Institutional investors own 81.60% of the company's stock.

Garmin Trading Down 1.3%

GRMN stock traded down $3.11 during midday trading on Friday, hitting $238.07. 528,633 shares of the company's stock were exchanged, compared to its average volume of 931,653. Garmin Ltd. has a 1-year low of $160.94 and a 1-year high of $246.50. The stock has a market capitalization of $45.83 billion, a PE ratio of 29.36, a P/E/G ratio of 2.59 and a beta of 1.00. The business has a 50-day simple moving average of $229.79 and a two-hundred day simple moving average of $212.50.

Garmin (NYSE:GRMN - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The scientific and technical instruments company reported $2.17 earnings per share for the quarter, topping analysts' consensus estimates of $1.90 by $0.27. The business had revenue of $1.81 billion during the quarter, compared to analysts' expectations of $1.68 billion. Garmin had a return on equity of 20.00% and a net margin of 23.21%.The company's revenue was up 20.4% compared to the same quarter last year. During the same period in the prior year, the business posted $1.58 EPS. Garmin has set its FY 2025 guidance at 8.000-8.000 EPS. As a group, research analysts expect that Garmin Ltd. will post 7.8 EPS for the current fiscal year.

Insider Transactions at Garmin

In other Garmin news, insider Cheng-Wei Wang sold 10,202 shares of the firm's stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $232.48, for a total value of $2,371,760.96. Following the completion of the transaction, the insider owned 36,092 shares of the company's stock, valued at $8,390,668.16. This trade represents a 22.04% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Douglas G. Boessen sold 1,859 shares of Garmin stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $215.00, for a total value 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 ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,960 shares of company stock valued at $4,376,918. 15.38% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

GRMN has been the subject of several recent analyst reports. Morgan Stanley boosted their target price on Garmin from $172.00 to $186.00 and gave the company an "underweight" rating in a research report on Thursday, July 31st. Barclays reaffirmed an "underweight" rating and issued a $167.00 price objective (up previously from $152.00) on shares of Garmin in a research report on Wednesday, July 30th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Garmin from $215.00 to $250.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. One investment 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's stock. Based on data from MarketBeat, Garmin currently has an average rating of "Hold" and an average target price of $222.00.

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.