Cerity Partners LLC Sells 5,352 Shares of Garmin Ltd. $GRMN

Cerity Partners LLC lowered its holdings in Garmin Ltd. (NYSE:GRMN) by 8.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 57,324 shares of the scientific and technical instruments company’s stock after selling 5,352 shares during the quarter. Cerity Partners LLC’s holdings in Garmin were worth $11,965,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its stake in shares of Garmin by 31.3% in the 4th 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. Zions Bancorporation National Association UT bought a new stake in Garmin in the first quarter valued at $38,000. Entropy Technologies LP acquired a new position in Garmin during the first quarter worth $661,000. Nuveen LLC bought a new position in shares of Garmin during the first quarter valued at $78,900,000. Finally, Meridian Wealth Management LLC acquired a new stake in shares of Garmin in the 1st quarter valued at $328,000. Institutional investors own 81.60% of the company’s stock.

Analysts Set New Price Targets

GRMN has been the subject of a number of recent analyst reports. Barclays increased 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. Longbow Research raised shares of Garmin from a “neutral” rating to a “buy” rating and set a $250.00 price objective for the company in a report on Wednesday, December 3rd. Weiss Ratings reissued a “buy (b)” rating on shares of Garmin in a report on Wednesday, October 8th. Tigress Financial raised their price target on Garmin from $285.00 to $305.00 and gave the company a “strong-buy” rating in a report on Tuesday, September 30th. Finally, Morgan Stanley lifted their price objective on Garmin from $193.00 to $195.00 and gave the company an “underweight” rating in a research report on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $241.60.

Garmin Trading Up 3.9%

Shares of NYSE:GRMN opened at $210.06 on Thursday. Garmin Ltd. has a 1-year low of $169.26 and a 1-year high of $261.69. The stock has a market capitalization of $40.40 billion, a P/E ratio of 25.87, a P/E/G ratio of 2.29 and a beta of 1.01. The business has a 50-day moving average price of $219.72 and a two-hundred day moving average price of $222.17.

Garmin (NYSE:GRMN) last issued its quarterly earnings results on Wednesday, October 29th. The scientific and technical instruments company reported $1.99 EPS for the quarter, hitting the consensus estimate 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%. Garmin’s revenue was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.99 EPS. Garmin has set its FY 2025 guidance at 8.150-8.150 EPS. As a group, equities analysts predict that Garmin Ltd. will post 7.8 EPS for the current year.

About Garmin

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.