Garmin Ltd. $GRMN Shares Purchased by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Garmin Ltd. (NYSE:GRMN) by 58.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,271 shares of the scientific and technical instruments company’s stock after acquiring an additional 3,809 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Garmin were worth $2,383,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. GSA Capital Partners LLP acquired a new stake in shares of Garmin during the fourth quarter valued at about $979,000. Commerzbank Aktiengesellschaft FI raised its position in Garmin by 282.5% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 6,518 shares of the scientific and technical instruments company’s stock valued at $1,322,000 after purchasing an additional 4,814 shares during the period. Generali Asset Management SPA SGR lifted its stake in Garmin by 8,727.4% during the fourth quarter. Generali Asset Management SPA SGR now owns 9,357 shares of the scientific and technical instruments company’s stock worth $1,898,000 after purchasing an additional 9,251 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Garmin by 121.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 107,929 shares of the scientific and technical instruments company’s stock worth $25,041,000 after buying an additional 59,229 shares during the period. Finally, Westerkirk Capital Inc. grew its stake in shares of Garmin by 88.2% in the fourth quarter. Westerkirk Capital Inc. now owns 20,700 shares of the scientific and technical instruments company’s stock valued at $4,199,000 after buying an additional 9,700 shares in the last quarter. Institutional investors and hedge funds own 81.60% of the company’s stock.

Key Stories Impacting Garmin

Here are the key news stories impacting Garmin this week:

• Positive Sentiment: Q2 beat and higher guidance: Garmin reported adjusted earnings of $2.81 per share, exceeding expectations of $2.30, while revenue increased 11.4% year over year to $2.02 billion. Growth was supported by strong demand for fitness products and advanced wearables. The company also raised its fiscal 2026 outlook, citing stronger margins and demand. Garmin Tops Q2 Earnings Estimates on Fitness Growth, Ups FY26 Guidance
• Positive Sentiment: Momentum and breakout: Coverage highlighted Garmin’s earnings-driven breakout and its ability to deliver growth despite a premium valuation. The stock reached a new 52-week high following the earnings beat, indicating continued investor confidence in its product portfolio and operating performance. Garmin Stock Breaks Out On Second-Quarter Beat, Raised Outlook
• Neutral Sentiment: Valuation debate: Analysts and financial commentary are weighing Garmin’s strong growth against a share price that may already reflect much of the improvement. This could make additional gains more dependent on continued earnings beats and guidance increases. Garmin Beats On Strong Demand, Is The Stock Now 12% Overvalued?
• Negative Sentiment: Insider selling: CEO Clifton Pemble, Vice President Joshua Maxfield and Director Sean Biddlecombe sold Garmin shares worth approximately $1.21 million, $335,000 and $289,000, respectively. Each retained a substantial position, but the cluster of sales can create a modest sentiment headwind.
• Negative Sentiment: Limited analyst upside: Morgan Stanley raised its price target to $289 from $249 but maintained an “equal weight” rating. The new target remains below the recent trading level, signaling that the firm views much of Garmin’s earnings optimism as already reflected in the stock.

Insider Transactions 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 stock was 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 directly 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 accessible through this link. Also, VP Joshua H. Maxfield sold 1,152 shares of the company’s stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $291.13, for a total value of $335,381.76. Following the completion of the sale, the vice president directly owned 15,042 shares of the company’s stock, valued at approximately $4,379,177.46. This trade represents a 7.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 8,810 shares of company stock valued at $2,478,157 over the last quarter. 14.80% of the stock is owned by corporate insiders.

Garmin Price Performance

NYSE:GRMN opened at $295.17 on Friday. Garmin Ltd. has a 12 month low of $186.67 and a 12 month high of $304.00. The firm has a market capitalization of $56.92 billion, a PE ratio of 30.43, a price-to-earnings-growth ratio of 3.42 and a beta of 0.90. The business’s fifty day moving average price is $243.03 and its 200 day moving average price is $237.09.

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 (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $1.93 billion. During the same period in the previous year, the business earned $2.17 EPS. Garmin’s revenue for the quarter was up 11.4% on a year-over-year basis. Garmin has set its FY 2026 guidance at 10.000-10.000 EPS. As a group, equities analysts anticipate that Garmin Ltd. will post 9.8 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on GRMN shares. Morgan Stanley increased their target price on Garmin from $249.00 to $289.00 and gave the stock an “equal weight” rating in a research note on Thursday. Tigress Financial raised their price objective on shares of Garmin from $320.00 to $325.00 and gave the company a “strong-buy” rating in a research note on Wednesday, May 20th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Garmin in a research note on Monday, June 8th. JPMorgan Chase & Co. raised their price target on shares of Garmin from $265.00 to $285.00 and gave the company a “neutral” rating in a research report on Thursday, April 16th. Finally, Wall Street Zen lowered Garmin from a “buy” rating to a “hold” rating in a research report on Saturday, June 20th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $289.20.

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.