The Manufacturers Life Insurance Company Sells 11,163 Shares of Garmin Ltd. $GRMN

The Manufacturers Life Insurance Company reduced its stake in Garmin Ltd. (NYSE:GRMN) by 8.8% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 115,869 shares of the scientific and technical instruments company’s stock after selling 11,163 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.06% of Garmin worth $26,883,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Reflection Asset Management bought a new position in shares of Garmin in the fourth quarter valued at approximately $32,000. Atlas Capital Advisors Inc. acquired a new stake in shares of Garmin in the fourth quarter worth $34,000. Archer Investment Corp bought a new stake in shares of Garmin during the 1st quarter worth $37,000. GraniteShares Advisors LLC bought a new stake in shares of Garmin during the 4th quarter worth $41,000. Finally, Torren Management LLC acquired a new position in Garmin in the 4th quarter valued at $41,000. Institutional investors own 81.60% of the company’s stock.

Wall Street Analysts Forecast Growth

GRMN has been the topic of several recent analyst reports. Zacks Research downgraded shares of Garmin from a “strong-buy” rating to a “hold” rating in a report on Friday, May 1st. Barclays raised their price target on Garmin from $238.00 to $297.00 and gave the company an “equal weight” rating in a research report on Thursday. JPMorgan Chase & Co. boosted their price objective on Garmin from $265.00 to $285.00 and gave the stock a “neutral” rating in a research report on Thursday, April 16th. Morgan Stanley increased their target price on Garmin from $249.00 to $289.00 and gave the company an “equal weight” rating in a research note on Thursday. Finally, Tigress Financial lifted their price target on Garmin from $320.00 to $325.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, May 20th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Garmin currently has a consensus rating of “Moderate Buy” and a consensus price target of $289.20.

Insider Activity

In other Garmin news, CFO Douglas G. Boessen sold 2,000 shares of the firm’s stock in a transaction that occurred on 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 owned 26,049 shares in the company, valued at approximately $6,197,317.59. This trade represents a 7.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Clifton A. Pemble sold 4,029 shares of Garmin stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $300.00, for a total value 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. The trade was a 3.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 8,810 shares of company stock valued at $2,478,157. Corporate insiders own 14.80% of the company’s stock.

Garmin News Summary

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.

Garmin Price Performance

NYSE GRMN opened at $295.17 on Friday. The company’s fifty day moving average is $243.03 and its two-hundred day moving average is $237.09. Garmin Ltd. has a 52-week low of $186.67 and a 52-week high of $304.00. The firm has a market capitalization of $56.92 billion, a price-to-earnings ratio of 30.43, a P/E/G ratio of 3.42 and a beta of 0.90.

Garmin (NYSE:GRMN) last announced its quarterly earnings data on Wednesday, July 29th. The scientific and technical instruments company reported $2.81 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.51. Garmin had a net margin of 24.47% and a return on equity of 20.95%. The business had revenue of $2.02 billion during the quarter, compared to analyst estimates of $1.93 billion. During the same quarter in the prior year, the business earned $2.17 earnings per share. The firm’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, sell-side analysts expect that Garmin Ltd. will post 9.8 earnings per share for the current fiscal year.

Garmin 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.