Pacer Advisors Inc. Has $2.16 Million Stock Holdings in Garmin Ltd. $GRMN

Key Points

• Pacer Advisors cut its Garmin stake by 32.8% in the first quarter, selling 4,539 shares and retaining 9,318 shares valued at approximately $2.16 million. Institutional investors and hedge funds collectively own 81.6% of Garmin.
• Analyst sentiment remains positive, with Garmin receiving a consensus “Moderate Buy” rating and an average price target of $310.17. Recent upgrades included Zacks Research moving the stock to “Strong Buy,” while JPMorgan and Morgan Stanley raised their price targets but maintained neutral or equal-weight ratings.
• Garmin reported quarterly EPS of $2.81, beating estimates by $0.51, while revenue rose 11.4% year over year to $2.02 billion. The stock opened at $311.33, near its 52-week high of $312.70, although insiders have sold 8,810 shares worth about $2.48 million over the past 90 days.

Pacer Advisors Inc. trimmed its position in Garmin Ltd. (NYSE:GRMN - Free Report) by 32.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,318 shares of the scientific and technical instruments company's stock after selling 4,539 shares during the period. Pacer Advisors Inc.'s holdings in Garmin were worth $2,162,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Groupe la Francaise raised its position in shares of Garmin by 346.4% during the first quarter. Groupe la Francaise now owns 125 shares of the scientific and technical instruments company's stock worth $29,000 after purchasing an additional 97 shares during the period. Reflection Asset Management acquired a new stake in Garmin in the 4th quarter valued at $32,000. Archer Investment Corp acquired a new stake in Garmin in the 1st quarter valued at $37,000. Atlas Capital Advisors Inc. bought a new stake in Garmin during the 4th quarter valued at $34,000. Finally, Cassaday & Co Wealth Management LLC acquired a new position in Garmin during the first quarter worth $44,000. 81.60% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Garmin in a research note on Monday, June 8th. Zacks Research raised shares of Garmin from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 31st. Tigress Financial restated a "strong-buy" rating on shares of Garmin in a report on Thursday. JPMorgan Chase & Co. lifted their price target on Garmin from $265.00 to $285.00 and gave the company a "neutral" rating in a research note on Thursday, April 16th. Finally, Morgan Stanley boosted their price objective on Garmin from $249.00 to $289.00 and gave the stock an "equal weight" rating in a report on Thursday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $310.17.

Garmin Price Performance

GRMN opened at $311.33 on Friday. Garmin Ltd. has a 1 year low of $186.67 and a 1 year high of $312.70. The company has a market capitalization of $60.04 billion, a price-to-earnings ratio of 32.10, a P/E/G ratio of 3.37 and a beta of 0.87. The firm's fifty day moving average price is $249.83 and its two-hundred day moving average price is $240.36.

Garmin (NYSE:GRMN - Get Free Report) last announced its earnings results on Wednesday, July 29th. The scientific and technical instruments company reported $2.81 EPS for the quarter, beating the consensus estimate of $2.30 by $0.51. Garmin had a net margin of 24.47% and a return on equity of 20.95%. The company had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $1.93 billion. During the same quarter in the prior year, the company posted $2.17 earnings per share. The firm's revenue for the quarter was up 11.4% on a year-over-year basis. Garmin has set its FY 2026 guidance at 10.000-10.000 EPS. As a group, equities analysts anticipate that Garmin Ltd. will post 10.1 EPS for the current year.

Insider Transactions at Garmin

In other Garmin news, CFO Douglas G. Boessen sold 2,000 shares of the stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $237.91, for a total value of $475,820.00. Following the completion of the sale, the chief financial officer owned 26,049 shares in the company, valued at approximately $6,197,317.59. This trade represents a 7.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Sean Biddlecombe sold 986 shares of Garmin stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $292.88, for a total transaction of $288,779.68. Following the transaction, the director directly owned 6,021 shares in the company, valued at approximately $1,763,430.48. This represents a 14.07% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 8,810 shares of company stock worth $2,478,157. Company insiders own 14.80% 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.

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