Healthcare of Ontario Pension Plan Trust Fund Raises Holdings in Garmin Ltd. $GRMN

Key Points

• Institutional ownership increased: Healthcare of Ontario Pension Plan Trust Fund raised its Garmin stake by 58.9% to 10,271 shares, worth approximately $2.38 million. Institutional investors and hedge funds collectively own 81.6% of the company.
• Garmin exceeded quarterly expectations: The company reported earnings of $2.81 per share versus the $2.30 consensus estimate, while revenue rose 11.4% year over year to $2.02 billion. Strong fitness and wearable demand supported the results and fiscal 2026 outlook.
• Shares are trading near record highs amid valuation concerns: Garmin opened at $295.17, near its 52-week high of $304, while analysts maintain a “Moderate Buy” consensus with a $289.20 price target. Recent insider selling and several “Hold” ratings suggest some caution after the stock’s strong rally.

Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Garmin Ltd. (NYSE:GRMN - Free Report) by 58.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,271 shares of the scientific and technical instruments company's stock after acquiring an additional 3,809 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund's holdings in Garmin were worth $2,383,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Brighton Jones LLC boosted its position in 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 lifted its stake in shares of Garmin by 6.2% in 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 purchasing an additional 345 shares during the period. Woodline Partners LP boosted its holdings in Garmin by 40.6% during the first 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 in the last quarter. Focus Partners Wealth grew its position in Garmin by 51.1% during the first quarter. Focus Partners Wealth now owns 6,811 shares of the scientific and technical instruments company's stock valued at $1,479,000 after buying an additional 2,304 shares during the period. Finally, Sivia Capital Partners LLC grew its position in Garmin by 17.0% during the second quarter. Sivia Capital Partners LLC now owns 1,662 shares of the scientific and technical instruments company's stock valued at $347,000 after buying an additional 242 shares during the period. 81.60% of the stock is owned by institutional investors and hedge funds.

Garmin Price Performance

Shares of NYSE:GRMN opened at $295.17 on Friday. Garmin Ltd. has a 1 year low of $186.67 and a 1 year high of $304.00. The firm has a market capitalization of $56.92 billion, a PE ratio of 30.43, a P/E/G ratio of 3.42 and a beta of 0.90. The business's 50 day moving average price is $243.03 and its 200-day moving average price is $237.09.

Garmin (NYSE:GRMN - Get Free Report) last announced its earnings results on Wednesday, July 29th. The scientific and technical instruments company reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.51. The company had revenue of $2.02 billion for the quarter, compared to analysts' expectations of $1.93 billion. Garmin had a net margin of 24.47% and a return on equity of 20.95%. The firm's quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.17 EPS. Garmin has set its FY 2026 guidance at 10.000-10.000 EPS. As a group, analysts expect that Garmin Ltd. will post 9.8 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on GRMN shares. Barclays upped their price objective on shares of Garmin from $238.00 to $297.00 and gave the stock an "equal weight" rating in a research report on Thursday. Weiss Ratings restated a "buy (b)" rating on shares of Garmin in a research note on Monday, June 8th. Tigress Financial upped their price target on Garmin from $320.00 to $325.00 and gave the stock a "strong-buy" rating in a report on Wednesday, May 20th. Morgan Stanley increased their price target on Garmin from $249.00 to $289.00 and gave the stock an "equal weight" rating in a research report on Thursday. Finally, Wall Street Zen lowered 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 given a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $289.20.

Trending Headlines about Garmin

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, 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 in the company, valued at $5,607,978.89. The trade was a 2.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Douglas G. Boessen sold 2,000 shares of the 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 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 represents a 7.13% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 8,810 shares of company stock worth $2,478,157. 14.80% of the stock is currently owned by insiders.

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.

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