Garmin Ltd. $GRMN Shares Sold by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC reduced its stake in Garmin Ltd. (NYSE:GRMN) by 1.4% during the 2nd quarter, HoldingsChannel reports. The firm owned 149,133 shares of the scientific and technical instruments company’s stock after selling 2,115 shares during the period. Wedge Capital Management L L P NC’s holdings in Garmin were worth $35,425,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Westmount Partners LLC lifted its holdings in shares of Garmin by 1.9% during the first quarter. Westmount Partners LLC now owns 2,205 shares of the scientific and technical instruments company’s stock worth $512,000 after purchasing an additional 42 shares during the period. Caldwell Trust Co increased its stake in Garmin by 4.4% in the 1st quarter. Caldwell Trust Co now owns 1,023 shares of the scientific and technical instruments company’s stock valued at $237,000 after buying an additional 43 shares during the period. HHM Wealth Advisors LLC raised its position in Garmin by 6.9% during the 1st quarter. HHM Wealth Advisors LLC now owns 698 shares of the scientific and technical instruments company’s stock worth $162,000 after buying an additional 45 shares during the last quarter. Fulton Bank N.A. increased its stake in shares of Garmin by 2.9% during the first quarter. Fulton Bank N.A. now owns 1,672 shares of the scientific and technical instruments company’s stock worth $388,000 after acquiring an additional 47 shares during the period. Finally, S.A. Mason LLC raised its holdings in Garmin by 2.4% during the fourth quarter. S.A. Mason LLC now owns 2,150 shares of the scientific and technical instruments company’s stock worth $436,000 after purchasing an additional 50 shares in the last quarter. Institutional investors and hedge funds own 81.60% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on GRMN shares. JPMorgan Chase & Co. upped their target price on Garmin from $265.00 to $285.00 and gave the company a “neutral” rating in a report on Thursday, April 16th. Tigress Financial reiterated a “strong-buy” rating on shares of Garmin in a research report on Thursday, August 6th. Morgan Stanley increased their price objective on shares of Garmin from $249.00 to $289.00 and gave the company an “equal weight” rating in a research note on Thursday, July 30th. Wall Street Zen downgraded shares of Garmin from a “buy” rating to a “hold” rating in a report on Saturday, June 20th. Finally, UBS Group set a $370.00 target price on shares of Garmin in a research report on Thursday, August 6th. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Garmin has an average rating of “Moderate Buy” and a consensus price target of $310.17.

Garmin Trading Down 1.2%

NYSE:GRMN opened at $309.26 on Wednesday. The firm has a market cap of $59.64 billion, a price-to-earnings ratio of 31.88, a price-to-earnings-growth ratio of 3.49 and a beta of 0.87. Garmin Ltd. has a 12-month low of $186.67 and a 12-month high of $314.28. The company’s 50-day moving average is $252.73 and its two-hundred day moving average is $242.09.

Garmin (NYSE:GRMN) last announced its quarterly earnings data on Wednesday, July 29th. The scientific and technical instruments company reported $2.81 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.51. The business had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $1.93 billion. Garmin had a return on equity of 20.95% and a net margin of 24.47%.The business’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.17 earnings per share. Garmin has set its FY 2026 guidance at 10.000-10.000 EPS. On average, equities research analysts forecast that Garmin Ltd. will post 10.1 earnings per share for the current fiscal year.

Insider Activity at Garmin

In other news, CFO Douglas G. Boessen sold 2,000 shares of the business’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $237.91, for a total value of $475,820.00. Following the completion of the sale, the chief financial officer owned 26,049 shares of the company’s stock, valued at approximately $6,197,317.59. The trade was a 7.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Clifton A. Pemble sold 4,029 shares of the business’s stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $300.00, for a total transaction of $1,208,700.00. Following the sale, the chief executive officer owned 120,127 shares of the company’s stock, valued at approximately $36,038,100. The trade was a 3.25% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 8,810 shares of company stock worth $2,478,157 over the last 90 days. Company insiders own 14.80% of the company’s stock.

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.