Pacer Advisors Inc. Sells 4,539 Shares of Garmin Ltd. $GRMN

Pacer Advisors Inc. lessened its stake in shares of Garmin Ltd. (NYSE:GRMN) by 32.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,318 shares of the scientific and technical instruments company’s stock after selling 4,539 shares during the period. Pacer Advisors Inc.’s holdings in Garmin were worth $2,162,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in GRMN. Groupe la Francaise grew its position in shares of Garmin by 346.4% during the 1st quarter. Groupe la Francaise now owns 125 shares of the scientific and technical instruments company’s stock valued at $29,000 after acquiring an additional 97 shares during the period. Reflection Asset Management bought a new position in Garmin during the fourth quarter valued at $32,000. Archer Investment Corp bought a new position in Garmin during the first quarter valued at $37,000. Atlas Capital Advisors Inc. purchased a new stake in Garmin in the fourth quarter worth $34,000. Finally, Cassaday & Co Wealth Management LLC bought a new stake in shares of Garmin in the first quarter valued at $44,000. Institutional investors own 81.60% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Clifton A. Pemble sold 4,029 shares of the company’s stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $300.00, for a total transaction of $1,208,700.00. Following the sale, the chief executive officer directly owned 120,127 shares in the company, valued at $36,038,100. This represents a 3.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Sean Biddlecombe sold 986 shares of the stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $292.88, for a total transaction of $288,779.68. Following the completion of the sale, the director directly owned 6,021 shares in the company, valued at approximately $1,763,430.48. The trade was a 14.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 8,810 shares of company stock worth $2,478,157 over the last quarter. Insiders own 14.80% of the company’s stock.

Garmin Price Performance

NYSE:GRMN opened at $311.33 on Friday. Garmin Ltd. has a 1 year low of $186.67 and a 1 year high of $312.70. The stock’s fifty day moving average price is $249.83 and its two-hundred day moving average price is $240.36. The company has a market cap of $60.04 billion, a P/E ratio of 32.10, a P/E/G ratio of 3.37 and a beta of 0.87.

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

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on GRMN shares. JPMorgan Chase & Co. upped their price target on Garmin from $265.00 to $285.00 and gave the company a “neutral” rating in a research report on Thursday, April 16th. Zacks Research raised Garmin from a “hold” rating to a “strong-buy” rating in a report on Friday, July 31st. Wall Street Zen cut Garmin from a “buy” rating to a “hold” rating in a research note on Saturday, June 20th. UBS Group set a $370.00 price objective on shares of Garmin in a report on Thursday. Finally, Tigress Financial reiterated a “strong-buy” rating on shares of Garmin in a research note on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Garmin presently has an average rating of “Moderate Buy” and an average price target of $310.17.

About Garmin

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.