Waverly Advisors LLC Increases Position in Garmin Ltd. $GRMN

Waverly Advisors LLC raised its holdings in Garmin Ltd. (NYSE:GRMN) by 37.1% in the first quarter, Holdings Channel reports. The fund owned 16,461 shares of the scientific and technical instruments company’s stock after buying an additional 4,458 shares during the period. Waverly Advisors LLC’s holdings in Garmin were worth $3,819,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of GRMN. Wealth Alliance LLC purchased a new stake in shares of Garmin in the first quarter valued at approximately $273,000. Entropy Technologies LP purchased a new position in Garmin during the first quarter worth approximately $3,593,000. Healthcare of Ontario Pension Plan Trust Fund lifted its position in Garmin by 58.9% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 10,271 shares of the scientific and technical instruments company’s stock worth $2,383,000 after buying an additional 3,809 shares in the last quarter. Renaissance Technologies LLC acquired a new position in Garmin during the first quarter worth $12,956,000. Finally, Compound Planning Inc. grew its holdings in Garmin by 19.2% in the 1st quarter. Compound Planning Inc. now owns 1,530 shares of the scientific and technical instruments company’s stock valued at $355,000 after buying an additional 246 shares in the last quarter. 81.60% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Garmin

In other Garmin news, Director Joseph J. Hartnett sold 643 shares of Garmin stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $263.57, for a total transaction of $169,475.51. Following the completion of the sale, the director directly owned 21,277 shares in the company, valued at $5,607,978.89. This trade represents a 2.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 shares were 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 in the company, valued at $6,197,317.59. This trade represents a 7.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 14.80% of the stock is owned by company insiders.

More Garmin News

Here are the key news stories impacting Garmin this week:

• Positive Sentiment: Quarterly results exceeded expectations: Garmin reported adjusted EPS of $2.81, above the roughly $2.27–$2.30 consensus, while revenue rose 11.4% year over year to $2.02 billion versus expectations of approximately $1.93 billion. The company described the quarter as a record period for operating results. Garmin announces second quarter 2026 results
• Positive Sentiment: Fitness is emerging as a major growth engine: Fitness revenue reportedly jumped about 25%, reinforcing investor confidence in Garmin’s wearables, connected devices and digital training ecosystem. Healthy-living trends and continued demand for fitness technology could support further growth. Garmin revenue increases 11% in Q2 as Fitness sales soar
• Positive Sentiment: Outlook was raised: Garmin now expects fiscal 2026 EPS of $10.00 and revenue of $8.1 billion, ahead of analyst estimates near $9.57 EPS and $8.0 billion in revenue. The improved outlook signals management’s confidence in demand and execution. Garmin’s Fitness Business Explodes 25%, Stock Surges
• Positive Sentiment: Broader connected-fitness exposure: Garmin’s recent acquisitions of TrainingPeaks and TrainHeroic expand its coaching and training software offerings, potentially adding recurring digital revenue alongside hardware sales.
• Neutral Sentiment: Growth sustainability remains a concern: One analysis cautioned that Garmin’s recent pace of expansion may moderate, particularly after the stock’s sharp rally and elevated valuation.
• Negative Sentiment: Insider selling is a risk signal: Reported open-market transactions over the past six months showed selling by executives and directors, with no disclosed insider purchases. This may temper enthusiasm, although such sales can also reflect scheduled diversification.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on GRMN shares. Zacks Research downgraded Garmin from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. Weiss Ratings reissued a “buy (b)” rating on shares of Garmin in a report on Monday, June 8th. Morgan Stanley set a $249.00 price objective on shares of Garmin in a research report on Thursday, April 30th. Wall Street Zen lowered shares of Garmin from a “buy” rating to a “hold” rating in a report on Saturday, June 20th. Finally, JPMorgan Chase & Co. increased their price target on shares of Garmin from $265.00 to $285.00 and gave the company a “neutral” rating in a research note on Thursday, April 16th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Garmin currently has a consensus rating of “Moderate Buy” and an average target price of $269.40.

Garmin Stock Up 16.2%

Shares of Garmin stock opened at $294.84 on Thursday. The firm has a market cap of $56.86 billion, a PE ratio of 32.87, a price-to-earnings-growth ratio of 3.00 and a beta of 0.90. Garmin Ltd. has a 52 week low of $186.67 and a 52 week high of $304.00. The business’s fifty day simple moving average is $240.78 and its 200-day simple moving average is $236.09.

Garmin (NYSE:GRMN) last issued its quarterly earnings data 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. The firm had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $1.93 billion. Garmin had a return on equity of 20.07% and a net margin of 23.26%.The company’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period last year, the company earned $2.17 EPS. Garmin has set its FY 2026 guidance at 10.000-10.000 EPS. As a group, equities analysts expect that Garmin Ltd. will post 9.53 earnings per share for the current year.

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.