Creative Planning Lowers Position in Garmin Ltd. $GRMN

Creative Planning trimmed its position in shares of Garmin Ltd. (NYSE:GRMN) by 7.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 41,761 shares of the scientific and technical instruments company’s stock after selling 3,318 shares during the quarter. Creative Planning’s holdings in Garmin were worth $8,716,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Meridian Wealth Management LLC increased its position in Garmin by 39.3% during the 2nd quarter. Meridian Wealth Management LLC now owns 2,103 shares of the scientific and technical instruments company’s stock worth $439,000 after purchasing an additional 593 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Garmin by 7.5% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 37,777 shares of the scientific and technical instruments company’s stock valued at $7,885,000 after buying an additional 2,646 shares in the last quarter. Olympiad Research LP grew its holdings in Garmin by 9.5% during the second quarter. Olympiad Research LP now owns 1,210 shares of the scientific and technical instruments company’s stock worth $253,000 after acquiring an additional 105 shares during the period. Fiera Capital Corp raised its position in Garmin by 12.9% in the second quarter. Fiera Capital Corp now owns 19,723 shares of the scientific and technical instruments company’s stock worth $4,117,000 after acquiring an additional 2,246 shares in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey lifted its holdings in Garmin by 9.1% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 24,741 shares of the scientific and technical instruments company’s stock valued at $5,164,000 after acquiring an additional 2,067 shares during the period. Institutional investors and hedge funds own 81.60% of the company’s stock.

Insider Transactions at Garmin

In related news, insider Cheng-Wei Wang sold 10,202 shares of the company’s stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $232.48, for a total value of $2,371,760.96. Following the sale, the insider owned 36,092 shares of the company’s stock, valued at approximately $8,390,668.16. This represents a 22.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 15.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on GRMN. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Garmin in a research note on Wednesday, October 8th. Barclays upped their target price on shares of Garmin from $167.00 to $208.00 and gave the stock an “underweight” rating in a research report on Thursday, October 30th. Morgan Stanley increased their target price on shares of Garmin from $193.00 to $195.00 and gave the company an “underweight” rating in a report on Thursday, October 30th. Finally, Tigress Financial upped their price target on Garmin from $285.00 to $305.00 and gave the stock a “strong-buy” rating in a report on Tuesday, September 30th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Garmin presently has an average rating of “Hold” and an average price target of $239.50.

Garmin Stock Down 0.0%

Garmin stock opened at $189.77 on Wednesday. The firm’s 50-day simple moving average is $233.23 and its 200 day simple moving average is $222.41. Garmin Ltd. has a 52 week low of $169.26 and a 52 week high of $261.69. The firm has a market capitalization of $36.50 billion, a PE ratio of 23.37, a P/E/G ratio of 2.41 and a beta of 1.01.

Garmin (NYSE:GRMN) last announced its earnings results on Wednesday, October 29th. The scientific and technical instruments company reported $1.99 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.99. The company had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.78 billion. Garmin had a net margin of 22.63% and a return on equity of 19.42%. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.99 earnings per share. Garmin has set its FY 2025 guidance at 8.150-8.150 EPS. On average, research analysts expect that Garmin Ltd. will post 7.8 EPS for the current fiscal year.

Garmin Company 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.