Generali Asset Management SPA SGR Sells 12,454 Shares of Garmin Ltd. $GRMN

Generali Asset Management SPA SGR reduced its stake in Garmin Ltd. (NYSE:GRMN) by 99.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 106 shares of the scientific and technical instruments company’s stock after selling 12,454 shares during the quarter. Generali Asset Management SPA SGR’s holdings in Garmin were worth $26,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of GRMN. Quaker Wealth Management LLC raised its holdings in shares of Garmin by 200.0% in the second quarter. Quaker Wealth Management LLC now owns 132 shares of the scientific and technical instruments company’s stock valued at $28,000 after purchasing an additional 264 shares during the last quarter. Blue Trust Inc. boosted its holdings in Garmin by 30.6% during the third quarter. Blue Trust Inc. now owns 235 shares of the scientific and technical instruments company’s stock worth $58,000 after purchasing an additional 55 shares during the last quarter. Newbridge Financial Services Group Inc. grew its position in Garmin by 96.9% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 250 shares of the scientific and technical instruments company’s stock worth $52,000 after purchasing an additional 123 shares in the last quarter. SOA Wealth Advisors LLC. increased its stake in Garmin by 27.5% in 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 buying an additional 58 shares during the last quarter. Finally, GFG Capital LLC bought a new position in shares of Garmin during the 2nd quarter worth approximately $67,000. 81.60% of the stock is owned by hedge funds and other institutional investors.

Garmin Stock Performance

GRMN stock opened at $203.87 on Tuesday. The stock has a fifty day moving average of $202.65 and a 200-day moving average of $222.42. Garmin Ltd. has a fifty-two week low of $169.26 and a fifty-two week high of $261.69. The company has a market capitalization of $39.21 billion, a price-to-earnings ratio of 25.11, a PEG ratio of 2.14 and a beta of 1.00.

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

Analyst Upgrades and Downgrades

GRMN has been the subject of several recent analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Garmin in a report on Wednesday, October 8th. Barclays upped their price objective on Garmin from $167.00 to $208.00 and gave the company an “underweight” rating in a research note on Thursday, October 30th. Morgan Stanley raised their target price on Garmin from $193.00 to $195.00 and gave the company an “underweight” rating in a research report on Thursday, October 30th. Tigress Financial reissued a “strong-buy” rating on shares of Garmin in a report on Friday, December 19th. Finally, Longbow Research upgraded shares of Garmin from a “neutral” rating to a “buy” rating and set a $250.00 price target for the company in a research report on Wednesday, December 3rd. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $242.60.

Insider Activity at Garmin

In related news, CEO Clifton A. Pemble sold 10,431 shares of Garmin stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $206.23, for a total value of $2,151,185.13. Following the completion of the transaction, the chief executive officer directly owned 135,180 shares in the company, valued at approximately $27,878,171.40. The trade was a 7.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Douglas G. Boessen sold 2,485 shares of the stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $206.26, for a total value of $512,556.10. Following the sale, 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 position. Additional details regarding this sale are available in the official SEC disclosure. 19.54% of the stock is currently owned by company insiders.

Garmin Company 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.