Garmin Ltd. $GRMN Shares Sold by Janus Henderson Group PLC

Key Points

• Janus Henderson reduced its Garmin stake by 10.3% in the first quarter, selling 45,720 shares and retaining 397,876 shares valued at approximately $92.3 million. Institutional investors still own 81.6% of Garmin.
• Garmin exceeded second-quarter expectations with adjusted EPS of $2.81 versus the $2.30 consensus and revenue of $2.02 billion, up 11.4% year over year. The company also raised its fiscal 2026 outlook, supported by demand for fitness products and wearables.
• Analysts remain cautiously positive as insiders sell shares. Garmin has a “Moderate Buy” consensus rating with an average price target of $289.20, while several executives and directors sold shares recently and the stock traded near its 52-week high of $304.

Janus Henderson Group PLC cut its stake in shares of Garmin Ltd. (NYSE:GRMN - Free Report) by 10.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 397,876 shares of the scientific and technical instruments company's stock after selling 45,720 shares during the quarter. Janus Henderson Group PLC owned 0.21% of Garmin worth $92,311,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of GRMN. Reflection Asset Management purchased a new stake in Garmin during the 4th quarter worth about $32,000. Archer Investment Corp purchased a new position in Garmin in the 1st quarter valued at about $37,000. Atlas Capital Advisors Inc. acquired a new stake in shares of Garmin during the fourth quarter worth approximately $34,000. Cassaday & Co Wealth Management LLC acquired a new stake in Garmin during the first quarter valued at approximately $44,000. Finally, Avalon Trust Co acquired a new position in Garmin in the first quarter worth $47,000. 81.60% of the stock is currently owned by hedge funds and other institutional investors.

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.

Insiders Place Their Bets

In other news, CFO Douglas G. Boessen sold 2,000 shares of Garmin stock in a transaction 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 directly owned 26,049 shares of the company's stock, valued at approximately $6,197,317.59. This trade represents a 7.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sean Biddlecombe sold 986 shares of the business's stock in a transaction on Friday, July 31st. The stock was sold at an average price of $292.88, for a total value of $288,779.68. Following the sale, the director owned 6,021 shares of the company's stock, valued at approximately $1,763,430.48. The trade was a 14.07% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 8,810 shares of company stock valued at $2,478,157 over the last quarter. Company insiders own 14.80% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on GRMN. JPMorgan Chase & Co. increased their target price 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. Morgan Stanley raised their price objective on shares of Garmin from $249.00 to $289.00 and gave the company an "equal weight" rating in a research report on Thursday. Zacks Research lowered Garmin from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 1st. Barclays boosted their target price on shares of Garmin from $238.00 to $297.00 and gave the stock an "equal weight" rating in a research report on Thursday. Finally, Wall Street Zen downgraded shares of Garmin from a "buy" rating to a "hold" rating in a report on Saturday, June 20th. One investment 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. According to data from MarketBeat, Garmin has an average rating of "Moderate Buy" and an average price target of $289.20.

Garmin Trading Down 0.8%

Shares of GRMN opened at $295.17 on Friday. The stock has a market cap of $56.92 billion, a PE ratio of 30.43, a PEG ratio of 3.42 and a beta of 0.90. Garmin Ltd. has a 1 year low of $186.67 and a 1 year high of $304.00. The stock has a 50 day simple moving average of $243.03 and a 200-day simple moving average of $237.09.

Garmin (NYSE:GRMN - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The scientific and technical instruments company reported $2.81 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 business had revenue of $2.02 billion for the quarter, compared to analyst estimates of $1.93 billion. During the same period in the prior year, the company 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. On average, sell-side analysts forecast that Garmin Ltd. will post 9.8 EPS for the current fiscal year.

About Garmin

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.

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