Cerity Partners LLC Has $18.49 Million Stake in Garmin Ltd. $GRMN

Cerity Partners LLC increased its stake in Garmin Ltd. (NYSE:GRMN) by 31.0% in the 3rd quarter, Holdings Channel reports. The firm owned 75,101 shares of the scientific and technical instruments company’s stock after purchasing an additional 17,777 shares during the period. Cerity Partners LLC’s holdings in Garmin were worth $18,492,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System raised its position in shares of Garmin by 6.2% in the third quarter. Louisiana State Employees Retirement System now owns 8,600 shares of the scientific and technical instruments company’s stock valued at $2,117,000 after purchasing an additional 500 shares during the period. CoreCap Advisors LLC grew its stake in Garmin by 62.3% in the 3rd quarter. CoreCap Advisors LLC now owns 7,185 shares of the scientific and technical instruments company’s stock valued at $1,769,000 after buying an additional 2,758 shares during the last quarter. Geneos Wealth Management Inc. raised its holdings in Garmin by 2.6% in the 3rd quarter. Geneos Wealth Management Inc. now owns 6,849 shares of the scientific and technical instruments company’s stock worth $1,686,000 after acquiring an additional 174 shares during the period. City Holding Co. raised its holdings in Garmin by 11.2% in the 3rd quarter. City Holding Co. now owns 9,634 shares of the scientific and technical instruments company’s stock worth $2,372,000 after acquiring an additional 969 shares during the period. Finally, Earned Wealth Advisors LLC acquired a new position in Garmin during the 3rd quarter worth $265,000. Institutional investors own 81.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on GRMN shares. Longbow Research raised Garmin from a “neutral” rating to a “buy” rating and set a $250.00 price target on the stock in a research report on Wednesday, December 3rd. Morgan Stanley increased 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. Barclays raised their price objective on shares of Garmin from $167.00 to $208.00 and gave the stock an “underweight” rating in a research note on Thursday, October 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of Garmin in a research note on Wednesday, October 8th. Finally, Tigress Financial restated a “strong-buy” rating on shares of Garmin in a research report on Friday, December 19th. One equities research 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 assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $242.60.

Insider Buying and Selling

In other Garmin news, CEO Clifton A. Pemble sold 10,431 shares of the firm’s 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 transaction, the chief executive officer owned 135,180 shares in the company, valued at $27,878,171.40. This trade represents a 7.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Patrick Desbois sold 3,678 shares of the company’s stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $210.40, for a total value of $773,851.20. Following the completion of the sale, the chief operating officer owned 61,798 shares in the company, valued at approximately $13,002,299.20. This represents a 5.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 16,594 shares of company stock valued at $3,437,592 over the last quarter. Corporate insiders own 15.38% of the company’s stock.

Garmin Trading Down 0.5%

GRMN opened at $212.33 on Friday. The stock’s 50 day simple moving average is $201.61 and its 200-day simple moving average is $222.41. The stock has a market cap of $40.84 billion, a PE ratio of 26.15, a P/E/G ratio of 2.26 and a beta of 1.00. Garmin Ltd. has a 1 year low of $169.26 and a 1 year high of $261.69.

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

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.