SG Americas Securities LLC Sells 6,274 Shares of Garmin Ltd. $GRMN

SG Americas Securities LLC decreased its holdings in shares of Garmin Ltd. (NYSE:GRMN) by 24.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,194 shares of the scientific and technical instruments company’s stock after selling 6,274 shares during the period. SG Americas Securities LLC’s holdings in Garmin were worth $4,726,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of GRMN. Quaker Wealth Management LLC lifted its position in Garmin by 200.0% during 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 in the last quarter. Tradewinds Capital Management LLC bought a new position in shares of Garmin in the third quarter worth about $44,000. Newbridge Financial Services Group Inc. lifted its position in shares of Garmin by 96.9% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 250 shares of the scientific and technical instruments company’s stock valued at $52,000 after buying an additional 123 shares in the last quarter. SJS Investment Consulting Inc. grew its stake in shares of Garmin by 1,530.8% during the 3rd quarter. SJS Investment Consulting Inc. now owns 212 shares of the scientific and technical instruments company’s stock valued at $52,000 after acquiring an additional 199 shares during the period. Finally, SOA Wealth Advisors LLC. grew its stake in shares of 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 period. 81.60% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Garmin

In other Garmin news, CFO Douglas G. Boessen sold 2,485 shares of the firm’s stock in a transaction that occurred on Tuesday, December 16th. The stock was 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 $5,964,214.16. This trade represents a 7.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Clifton A. Pemble sold 10,431 shares of Garmin stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $206.23, for a total value of $2,151,185.13. Following the completion of the sale, 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. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 16,594 shares of company stock valued at $3,437,592. Insiders own 15.38% of the company’s stock.

Garmin Stock Performance

GRMN opened at $212.33 on Friday. The stock has a market capitalization of $40.84 billion, a price-to-earnings ratio of 26.15, a PEG ratio of 2.24 and a beta of 1.00. The company has a fifty day moving average of $201.61 and a 200 day moving average of $222.53. Garmin Ltd. has a fifty-two week low of $169.26 and a fifty-two week high of $261.69.

Garmin (NYSE:GRMN) last announced 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 business had revenue of $1.77 billion for 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 business’s quarterly revenue was up 11.7% compared to the same quarter last year. 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. On average, equities research analysts forecast that Garmin Ltd. will post 7.8 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Longbow Research upgraded shares of Garmin from a “neutral” rating to a “buy” rating and set a $250.00 target price on the stock in a research note on Wednesday, December 3rd. Tigress Financial restated a “strong-buy” rating on shares of Garmin in a research report on Friday, December 19th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Garmin in a report on Wednesday, October 8th. Morgan Stanley increased their price target on Garmin from $193.00 to $195.00 and gave the stock an “underweight” rating in a research note on Thursday, October 30th. Finally, Barclays boosted their price objective on Garmin from $167.00 to $208.00 and gave the company an “underweight” rating in a research report on Thursday, October 30th. 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 issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price 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.