Garmin Ltd. $GRMN Shares Sold by QRG Capital Management Inc.

QRG Capital Management Inc. lessened its holdings in shares of Garmin Ltd. (NYSE:GRMN) by 68.8% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 23,685 shares of the scientific and technical instruments company’s stock after selling 52,336 shares during the quarter. QRG Capital Management Inc.’s holdings in Garmin were worth $5,832,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the business. Quaker Wealth Management LLC grew its stake 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 worth $28,000 after buying an additional 264 shares during the period. Richardson Financial Services Inc. lifted its holdings in shares of Garmin by 62.2% during the 3rd quarter. Richardson Financial Services Inc. now owns 133 shares of the scientific and technical instruments company’s stock valued at $33,000 after acquiring an additional 51 shares in the last quarter. Tradewinds Capital Management LLC purchased a new stake in Garmin during the 3rd quarter worth $44,000. SJS Investment Consulting Inc. increased its holdings in Garmin by 1,530.8% in 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 purchasing an additional 199 shares in the last quarter. Finally, Mascoma Wealth Management LLC acquired a new stake in Garmin in the 3rd quarter valued at $54,000. Hedge funds and other institutional investors own 81.60% of the company’s stock.

Garmin Stock Performance

Shares of GRMN stock opened at $211.98 on Monday. Garmin Ltd. has a one year low of $169.26 and a one year high of $261.69. The company’s 50-day simple moving average is $202.31 and its 200-day simple moving average is $222.77. The stock has a market capitalization of $40.77 billion, a price-to-earnings ratio of 26.11, a PEG ratio of 2.24 and a beta of 1.00.

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

Insider Activity

In related news, COO Patrick Desbois sold 3,678 shares of the company’s stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $210.40, for a total transaction of $773,851.20. Following the sale, the chief operating officer directly owned 61,798 shares of the company’s stock, valued at approximately $13,002,299.20. This represents a 5.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Douglas G. Boessen sold 2,485 shares of the firm’s 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 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 ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 16,594 shares of company stock worth $3,437,592. 15.38% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Tigress Financial restated a “strong-buy” rating on shares of Garmin in a research note on Friday, December 19th. Weiss Ratings reissued a “buy (b)” rating on shares of Garmin in a research report on Wednesday, October 8th. Morgan Stanley lifted their price objective on shares of Garmin from $193.00 to $195.00 and gave the company an “underweight” rating in a research note on Thursday, October 30th. Longbow Research raised shares of Garmin from a “neutral” rating to a “buy” rating and set a $250.00 target price on the stock in a research report on Wednesday, December 3rd. Finally, Barclays raised shares of Garmin from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $208.00 to $217.00 in a report on Friday. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Garmin presently has a consensus rating of “Moderate Buy” and a consensus target price of $244.40.

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.