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

Generali Asset Management SPA SGR reduced its position in Garmin Ltd. (NYSE:GRMN) by 99.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm 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 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Quaker Wealth Management LLC lifted its stake in Garmin by 200.0% in the 2nd quarter. Quaker Wealth Management LLC now owns 132 shares of the scientific and technical instruments company’s stock worth $28,000 after purchasing an additional 264 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of Garmin by 30.6% in 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 period. Newbridge Financial Services Group Inc. raised its position in shares of 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 worth $52,000 after buying an additional 123 shares in the last quarter. SOA Wealth Advisors LLC. boosted its stake in Garmin by 27.5% during the second 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 period. Finally, GFG Capital LLC purchased a new position in Garmin during the second quarter worth about $67,000. Institutional investors own 81.60% of the company’s stock.

Insider Activity

In other news, CFO Douglas G. Boessen sold 2,485 shares of the business’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $206.26, for a total value of $512,556.10. Following the completion of the sale, the chief financial officer owned 28,916 shares of the company’s stock, valued at approximately $5,964,214.16. The trade was a 7.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Clifton A. Pemble sold 10,431 shares of the stock in a transaction dated 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 sale, the chief executive officer owned 135,180 shares of the company’s stock, valued at $27,878,171.40. This represents a 7.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 19.54% of the stock is currently owned by insiders.

Garmin Stock Performance

Shares of GRMN opened at $203.87 on Tuesday. The firm has a market cap 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 Ltd. has a fifty-two week low of $169.26 and a fifty-two week high of $261.69. The firm has a 50 day moving average price of $202.65 and a 200-day moving average price of $222.42.

Garmin (NYSE:GRMN) last released its earnings results 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 company had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.78 billion. Garmin had a net margin of 22.63% and a return on equity of 19.42%. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.99 EPS. Garmin has set its FY 2025 guidance at 8.150-8.150 EPS. As a group, equities research analysts predict that Garmin Ltd. will post 7.8 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have weighed in on GRMN shares. Morgan Stanley raised their price target on Garmin from $193.00 to $195.00 and gave the company an “underweight” rating in a report on Thursday, October 30th. Longbow Research upgraded shares of Garmin from a “neutral” rating to a “buy” rating and set a $250.00 target price for the company in a research report on Wednesday, December 3rd. Barclays boosted their price target 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. Tigress Financial restated a “strong-buy” rating on shares of Garmin in a research report on Friday, December 19th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Garmin in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Garmin has a consensus rating of “Hold” and an average target price of $242.60.

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.