Universal Beteiligungs und Servicegesellschaft mbH Decreases Stake in Garmin Ltd. $GRMN

Universal Beteiligungs und Servicegesellschaft mbH decreased its holdings in Garmin Ltd. (NYSE:GRMN) by 5.1% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 125,350 shares of the scientific and technical instruments company’s stock after selling 6,701 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH’s holdings in Garmin were worth $30,864,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Quaker Wealth Management LLC increased its position in shares of Garmin by 200.0% in the second quarter. Quaker Wealth Management LLC now owns 132 shares of the scientific and technical instruments company’s stock worth $28,000 after acquiring an additional 264 shares in the last quarter. Richardson Financial Services Inc. boosted its position in 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 worth $33,000 after purchasing an additional 51 shares during the period. Tradewinds Capital Management LLC acquired a new stake in Garmin in the 3rd quarter valued at $44,000. SJS Investment Consulting Inc. raised its position in Garmin by 1,530.8% in the third 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 during the period. Finally, Mascoma Wealth Management LLC acquired a new position in shares of Garmin during the third quarter worth about $54,000. 81.60% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Clifton A. Pemble sold 10,431 shares of Garmin stock in a transaction dated 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 transaction, the chief executive officer directly owned 135,180 shares in the company, valued at approximately $27,878,171.40. This trade represents a 7.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Douglas G. Boessen sold 2,485 shares of the company’s stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $206.26, for a total value of $512,556.10. Following the sale, the chief financial officer owned 28,916 shares in the company, valued at $5,964,214.16. The trade was a 7.91% 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 worth $3,437,592. Corporate insiders own 15.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on GRMN. Longbow Research upgraded Garmin from a “neutral” rating to a “buy” rating and set a $250.00 target price for the company in a research note on Wednesday, December 3rd. Barclays raised shares of Garmin from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $208.00 to $217.00 in a research report on Friday, January 16th. Tigress Financial reissued a “strong-buy” rating on shares of Garmin in a research report on Friday, December 19th. Weiss Ratings restated a “buy (b)” rating on shares of Garmin in a research note on Wednesday, October 8th. Finally, Morgan Stanley lifted their price target on shares of Garmin from $193.00 to $195.00 and gave the stock an “underweight” rating in a research note on Thursday, October 30th. One 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 assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $244.40.

Garmin Trading Up 0.8%

GRMN stock opened at $206.17 on Friday. The firm has a 50 day simple moving average of $202.85 and a 200-day simple moving average of $222.42. The company has a market capitalization of $39.65 billion, a P/E ratio of 25.39, a PEG ratio of 2.16 and a beta of 1.00. Garmin Ltd. has a twelve month low of $169.26 and a twelve month high of $261.69.

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