Qube Research & Technologies Ltd Sells 207,618 Shares of Garmin Ltd. $GRMN

by · The Cerbat Gem

Qube Research & Technologies Ltd cut its holdings in Garmin Ltd. (NYSE:GRMN – Free Report) by 38.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 329,839 shares of the scientific and technical instruments company’s stock after selling 207,618 shares during the quarter. Qube Research & Technologies Ltd owned 0.17% of Garmin worth $68,844,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of GRMN. Quaker Wealth Management LLC lifted its position in shares of Garmin by 200.0% during the 2nd quarter. Quaker Wealth Management LLC now owns 132 shares of the scientific and technical instruments company’s stock valued at $28,000 after acquiring an additional 264 shares during the period. Groupe la Francaise bought a new stake in Garmin in the first quarter valued at $33,000. SOA Wealth Advisors LLC. raised its holdings in shares of 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 purchasing an additional 58 shares during the period. GFG Capital LLC bought a new position in shares of Garmin during the 2nd quarter worth about $67,000. Finally, Edmond DE Rothschild Holding S.A. bought a new position in shares of Garmin during the 2nd quarter worth about $73,000. Institutional investors and hedge funds own 81.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on GRMN shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Garmin in a research report on Wednesday, October 8th. Barclays raised their price objective on Garmin from $167.00 to $208.00 and gave the company an “underweight” rating in a research note on Thursday, October 30th. Morgan Stanley upped their target price on Garmin from $193.00 to $195.00 and gave the stock an “underweight” rating in a research report on Thursday, October 30th. Tigress Financial increased their target price on Garmin from $285.00 to $305.00 and gave the stock a “strong-buy” rating in a report on Tuesday, September 30th. Finally, Longbow Research upgraded shares of Garmin from a “neutral” rating to a “buy” rating and set a $250.00 price target for the company in a research note on Wednesday, December 3rd. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $241.60.

Get Our Latest Stock Analysis on GRMN

Garmin Stock Up 0.2%

Shares of NYSE:GRMN opened at $210.66 on Friday. The business’s 50 day moving average is $218.78 and its 200 day moving average is $222.09. Garmin Ltd. has a 12-month low of $169.26 and a 12-month high of $261.69. The stock has a market cap of $40.52 billion, a price-to-earnings ratio of 25.94, a PEG ratio of 2.38 and a beta of 1.01.

Garmin (NYSE:GRMN – Get Free Report) last released its quarterly earnings results 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 business had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.78 billion. Garmin had a return on equity of 19.42% and a net margin of 22.63%.Garmin’s quarterly 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. As a group, equities research analysts expect that Garmin Ltd. will post 7.8 earnings per share for the current year.

Garmin Company 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.

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