55,842 Shares in Garmin Ltd. $GRMN Acquired by Renaissance Technologies LLC

Renaissance Technologies LLC acquired a new position in shares of Garmin Ltd. (NYSE:GRMN) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 55,842 shares of the scientific and technical instruments company’s stock, valued at approximately $12,956,000.

Several other large investors also recently added to or reduced their stakes in the company. Compound Planning Inc. boosted its position in shares of Garmin by 19.2% in the first quarter. Compound Planning Inc. now owns 1,530 shares of the scientific and technical instruments company’s stock worth $355,000 after buying an additional 246 shares during the period. Modern Wealth Management LLC raised its position in Garmin by 21.4% during the first quarter. Modern Wealth Management LLC now owns 3,029 shares of the scientific and technical instruments company’s stock valued at $720,000 after buying an additional 533 shares during the period. Arrowstreet Capital Limited Partnership raised its position in 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 valued at $25,041,000 after buying an additional 59,229 shares during the period. NewEdge Wealth LLC boosted its position in Garmin by 57.3% during the 1st quarter. NewEdge Wealth LLC now owns 4,239 shares of the scientific and technical instruments company’s stock worth $983,000 after acquiring an additional 1,545 shares during the period. Finally, ABN Amro Investment Solutions acquired a new stake in Garmin during the 1st quarter worth about $1,868,000. 81.60% of the stock is owned by institutional investors and hedge funds.

Garmin Price Performance

Shares of GRMN stock opened at $295.17 on Friday. Garmin Ltd. has a fifty-two week low of $186.67 and a fifty-two week high of $304.00. The stock’s 50-day moving average is $243.03 and its two-hundred day moving average is $237.09. The firm has a market cap of $56.92 billion, a P/E ratio of 30.43, a PEG ratio of 3.42 and a beta of 0.90.

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, beating the consensus estimate of $2.30 by $0.51. The business had revenue of $2.02 billion during the quarter, compared to analyst estimates of $1.93 billion. Garmin had a return on equity of 20.95% and a net margin of 24.47%.The firm’s revenue was up 11.4% on a year-over-year basis. During the same period in the previous year, the company earned $2.17 EPS. Garmin has set its FY 2026 guidance at 10.000-10.000 EPS. As a group, research analysts expect that Garmin Ltd. will post 9.8 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on GRMN. Weiss Ratings reiterated a “buy (b)” rating on shares of Garmin in a report on Monday, June 8th. Wall Street Zen cut shares of Garmin from a “buy” rating to a “hold” rating in a report on Saturday, June 20th. Tigress Financial raised their price target on shares of Garmin from $320.00 to $325.00 and gave the stock a “strong-buy” rating in a report on Wednesday, May 20th. Zacks Research downgraded shares of Garmin from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 1st. Finally, Morgan Stanley upped their price objective on shares of Garmin from $249.00 to $289.00 and gave the company an “equal weight” rating in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $289.20.

Insider Activity

In other Garmin news, VP Joshua H. Maxfield sold 1,152 shares of Garmin stock in a transaction that occurred on 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 in the company, valued at $4,379,177.46. The trade was a 7.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Douglas G. Boessen sold 2,000 shares of the business’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 transaction 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 $6,197,317.59. This represents a 7.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 8,810 shares of company stock valued at $2,478,157. 14.80% of the stock is currently owned by company insiders.

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 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.