Amundi Buys 459,980 Shares of Garmin Ltd. $GRMN

Key Points

• Amundi increased its Garmin stake by 82.5% in the first quarter, purchasing 459,980 additional shares for a total holding of 1,017,314 shares valued at approximately $236 million. Institutional investors collectively own 81.6% of Garmin.
• Garmin reported strong second-quarter results, with EPS of $2.81 beating the $2.30 consensus and revenue rising 11.4% year over year to $2.02 billion. The company raised its fiscal 2026 outlook to approximately $10.00 EPS and $8.1 billion in revenue.
• Garmin shares opened at $297.50, near their 52-week high of $304, while analysts maintain a consensus “Moderate Buy” rating and a $289.20 price target. Recent insider sales and valuation concerns could limit near-term upside.

Amundi raised its stake in shares of Garmin Ltd. (NYSE:GRMN - Free Report) by 82.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,017,314 shares of the scientific and technical instruments company's stock after buying an additional 459,980 shares during the quarter. Amundi owned about 0.53% of Garmin worth $236,027,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC boosted its holdings in shares of Garmin by 31.3% in the 4th quarter. Brighton Jones LLC now owns 1,943 shares of the scientific and technical instruments company's stock worth $401,000 after purchasing an additional 463 shares in the last quarter. NewEdge Advisors LLC raised its holdings in shares of Garmin by 6.2% during the 1st quarter. NewEdge Advisors LLC now owns 5,885 shares of the scientific and technical instruments company's stock valued at $1,278,000 after buying an additional 345 shares in the last quarter. Woodline Partners LP lifted its position in Garmin by 40.6% in the 1st quarter. Woodline Partners LP now owns 13,017 shares of the scientific and technical instruments company's stock worth $2,826,000 after buying an additional 3,757 shares during the last quarter. Focus Partners Wealth boosted its stake in Garmin by 51.1% in the first quarter. Focus Partners Wealth now owns 6,811 shares of the scientific and technical instruments company's stock worth $1,479,000 after buying an additional 2,304 shares in the last quarter. Finally, Sivia Capital Partners LLC boosted its stake in Garmin by 17.0% in the second quarter. Sivia Capital Partners LLC now owns 1,662 shares of the scientific and technical instruments company's stock worth $347,000 after buying an additional 242 shares in the last quarter. Institutional investors own 81.60% of the company's stock.

Insider Transactions at Garmin

In other news, Director Joseph J. Hartnett sold 643 shares of the business's stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $263.57, for a total transaction of $169,475.51. Following the transaction, the director directly owned 21,277 shares of the company's stock, valued at approximately $5,607,978.89. The trade was a 2.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Douglas G. Boessen sold 2,000 shares of the company'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 value of $475,820.00. Following the transaction, the chief financial officer owned 26,049 shares of the company's stock, valued at approximately $6,197,317.59. This represents a 7.13% decrease in their position. The SEC filing for this sale provides additional information. 14.80% of the stock is owned by insiders.

More Garmin News

Here are the key news stories impacting Garmin this week:

• Positive Sentiment: Garmin reported second-quarter earnings of $2.81 per share, well above the $2.27-$2.30 analyst consensus, while revenue rose 11.4% year over year to $2.02 billion, exceeding expectations of approximately $1.93 billion. Garmin announces second quarter 2026 results
• Positive Sentiment: The Fitness segment was the key growth engine, with sales reportedly increasing about 25% as demand for advanced wearables remained strong. Investors viewed the result as evidence that Garmin’s connected-device and healthy-living trends are supporting sustained growth. Garmin's Fitness Business Explodes 25%, Stock Surges
• Positive Sentiment: Garmin raised its fiscal 2026 outlook to approximately $10.00 in EPS and $8.1 billion in revenue, above consensus forecasts near $9.57 EPS and $8.0 billion revenue. Stronger margins also supported the improved outlook. Garmin Tops Q2 Earnings Estimates
• Neutral Sentiment: Morgan Stanley raised its price target from $249 to $289 but retained an Equal Weight rating. The new target remains below the stock’s recent trading level, signaling limited near-term upside in the analyst’s view. Morgan Stanley price target update
• Negative Sentiment: At a price-to-earnings ratio above 33 and near its 52-week high, some coverage argues that Garmin may be roughly 12% overvalued and that its recent growth rate may be difficult to sustain, creating a risk of profit-taking. Garmin Beats on Strong Demand, Is the Stock Now 12% Overvalued?

Analysts Set New Price Targets

Several research firms have commented on GRMN. Weiss Ratings reissued a "buy (b)" rating on shares of Garmin in a research note on Monday, June 8th. Wall Street Zen lowered shares of Garmin from a "buy" rating to a "hold" rating in a report on Saturday, June 20th. Zacks Research cut shares of Garmin from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 1st. Barclays boosted their price target on shares of Garmin from $238.00 to $297.00 and gave the stock an "equal weight" rating in a research note on Thursday. Finally, JPMorgan Chase & Co. upped 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. One investment 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 stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $289.20.

Garmin Stock Up 0.9%

NYSE:GRMN opened at $297.50 on Friday. The firm has a market capitalization of $57.38 billion, a P/E ratio of 30.67, a P/E/G ratio of 3.48 and a beta of 0.90. The company has a fifty day moving average of $241.94 and a 200 day moving average of $236.69. Garmin Ltd. has a 52 week low of $186.67 and a 52 week high of $304.00.

Garmin (NYSE:GRMN - Get Free Report) 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 net margin of 24.47% and a return on equity of 20.95%. The business had revenue of $2.02 billion for the quarter, compared to analyst estimates of $1.93 billion. During the same quarter last year, the firm earned $2.17 EPS. The company's revenue 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, analysts anticipate that Garmin Ltd. will post 9.53 EPS for the current 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.

Want to see what other hedge funds are holding GRMN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Garmin Ltd. (NYSE:GRMN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.