Baldwin Wealth Partners LLC MA Trims Stock Holdings in Garmin Ltd. $GRMN

Baldwin Wealth Partners LLC MA lessened its holdings in shares of Garmin Ltd. (NYSE:GRMN) by 3.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 80,634 shares of the scientific and technical instruments company’s stock after selling 3,202 shares during the quarter. Garmin accounts for 1.3% of Baldwin Wealth Partners LLC MA’s portfolio, making the stock its 21st largest position. Baldwin Wealth Partners LLC MA’s holdings in Garmin were worth $19,854,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Quaker Wealth Management LLC boosted its stake in shares of Garmin by 200.0% during the 2nd quarter. Quaker Wealth Management LLC now owns 132 shares of the scientific and technical instruments company’s stock valued at $28,000 after buying an additional 264 shares during the last quarter. Groupe la Francaise acquired a new stake in Garmin in the first quarter valued at $33,000. Newbridge Financial Services Group Inc. raised its holdings in Garmin by 96.9% in the second quarter. Newbridge Financial Services Group Inc. now owns 250 shares of the scientific and technical instruments company’s stock valued at $52,000 after acquiring an additional 123 shares in the last quarter. SOA Wealth Advisors LLC. boosted its stake in Garmin by 27.5% during the 2nd quarter. SOA Wealth Advisors LLC. now owns 269 shares of the scientific and technical instruments company’s stock valued at $56,000 after acquiring an additional 58 shares during the last quarter. Finally, GFG Capital LLC acquired a new position in Garmin during the 2nd quarter worth $67,000. 81.60% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Douglas G. Boessen sold 2,485 shares of the company’s stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $206.26, for a total transaction of $512,556.10. Following the completion of the transaction, the chief financial officer owned 28,916 shares in the company, valued at approximately $5,964,214.16. This represents a 7.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Clifton A. Pemble sold 10,431 shares of Garmin stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $206.23, for a total transaction of $2,151,185.13. Following the completion of the sale, the chief executive officer owned 135,180 shares in the company, valued at approximately $27,878,171.40. This represents a 7.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 19.54% of the stock is currently owned by corporate insiders.

Garmin Trading Down 0.4%

Shares of Garmin stock opened at $201.41 on Monday. The stock has a market capitalization of $38.74 billion, a price-to-earnings ratio of 24.80, a PEG ratio of 2.28 and a beta of 1.01. Garmin Ltd. has a twelve month low of $169.26 and a twelve month high of $261.69. The business’s 50 day simple moving average is $212.64 and its 200-day simple moving average is $222.42.

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

Analysts Set New Price Targets

GRMN has been the subject of several research analyst reports. Morgan Stanley boosted their target price on shares of Garmin from $193.00 to $195.00 and gave the stock an “underweight” rating in a research report on Thursday, October 30th. Longbow Research upgraded Garmin from a “neutral” rating to a “buy” rating and set a $250.00 price target for the company in a research note on Wednesday, December 3rd. Barclays boosted their price objective on Garmin from $167.00 to $208.00 and gave the company an “underweight” rating in a report on Thursday, October 30th. Tigress Financial reaffirmed a “strong-buy” rating on shares of Garmin in a report on Friday. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Garmin in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $242.60.

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.