SYM FINANCIAL Corp Sells 354 Shares of Garmin Ltd. $GRMN

by · The Cerbat Gem

SYM FINANCIAL Corp lowered its stake in Garmin Ltd. (NYSE:GRMN – Free Report) by 22.2% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,244 shares of the scientific and technical instruments company’s stock after selling 354 shares during the quarter. SYM FINANCIAL Corp’s holdings in Garmin were worth $260,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Groupe la Francaise purchased a new position in Garmin during the 1st quarter worth $33,000. Wayfinding Financial LLC purchased a new position in shares of Garmin in the 1st quarter worth about $34,000. Zions Bancorporation National Association UT purchased a new position in shares of Garmin in the 1st quarter worth about $38,000. Olde Wealth Management LLC purchased a new position in shares of Garmin in the 1st quarter worth about $43,000. Finally, Harbour Investments Inc. boosted its holdings in shares of Garmin by 31.8% in the 1st quarter. Harbour Investments Inc. now owns 265 shares of the scientific and technical instruments company’s stock worth $58,000 after buying an additional 64 shares during the last quarter. Institutional investors own 81.60% of the company’s stock.

Garmin Stock Up 0.4%

Shares of GRMN opened at $251.57 on Tuesday. The business’s 50-day moving average price is $242.95 and its 200-day moving average price is $220.71. Garmin Ltd. has a twelve month low of $163.11 and a twelve month high of $261.69. The stock has a market cap of $48.43 billion, a PE ratio of 31.02, a P/E/G ratio of 2.74 and a beta of 0.98.

Garmin (NYSE:GRMN – Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The scientific and technical instruments company reported $2.17 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.27. Garmin had a return on equity of 20.00% and a net margin of 23.21%.The firm had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.68 billion. During the same period in the prior year, the business posted $1.58 earnings per share. The company’s revenue was up 20.4% on a year-over-year basis. Garmin has set its FY 2025 guidance at 8.000-8.000 EPS. Analysts expect that Garmin Ltd. will post 7.8 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on GRMN. JPMorgan Chase & Co. boosted their price target on shares of Garmin from $215.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday, July 17th. Barclays reissued an “underweight” rating and issued a $167.00 price target (up from $152.00) on shares of Garmin in a report on Wednesday, July 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Garmin in a report on Wednesday, October 8th. Tigress Financial boosted their price objective on Garmin from $285.00 to $305.00 and gave the company a “strong-buy” rating in a research note on Tuesday, September 30th. Finally, Morgan Stanley boosted their price objective on Garmin from $186.00 to $193.00 and gave the company an “underweight” rating in a research note on Friday, September 19th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $228.75.

View Our Latest Research Report on GRMN

Insider Buying and Selling at Garmin

In related news, insider Cheng-Wei Wang sold 10,202 shares of the company’s stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $232.48, for a total value of $2,371,760.96. Following the transaction, the insider directly owned 36,092 shares in the company, valued at approximately $8,390,668.16. This represents a 22.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 15.38% of the company’s stock.

Garmin Profile

(Free Report)

Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of wireless devices worldwide. Its Fitness segment offers running and multi-sport watches; cycling products; smartwatch devices; scales and monitors; and fitness accessories. This segment also provides Garmin Connect and Garmin Connect Mobile, which are web and mobile platforms where users can track and analyze their fitness, activities and workouts, and wellness data; and Connect IQ, an application development platform.

Further Reading

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