Waverly Advisors LLC Raises Holdings in Garmin Ltd. $GRMN

Key Points

• Waverly Advisors increased its Garmin stake by 37.1% in the first quarter, bringing its holdings to 16,461 shares valued at approximately $3.82 million. Institutional investors collectively own 81.6% of Garmin’s stock.
• Garmin reported strong quarterly results, with EPS of $2.81 exceeding the $2.30 consensus and revenue rising 11.4% year over year to $2.02 billion. Management set fiscal 2026 guidance at $10.00 EPS.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $269.40, while Garmin shares recently traded near their 52-week high; insider selling and valuation concerns remain potential risks.

Waverly Advisors LLC increased its stake in shares of Garmin Ltd. (NYSE:GRMN - Free Report) by 37.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,461 shares of the scientific and technical instruments company's stock after acquiring an additional 4,458 shares during the period. Waverly Advisors LLC's holdings in Garmin were worth $3,819,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of GRMN. Wealth Alliance LLC acquired a new stake in shares of Garmin during the 1st quarter worth approximately $273,000. Entropy Technologies LP acquired a new position in shares of Garmin in the 1st quarter valued at $3,593,000. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings 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 purchased a new stake in Garmin during the first quarter worth $12,956,000. Finally, Compound Planning Inc. grew its position in Garmin by 19.2% during the first 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 during the period. 81.60% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Joseph J. Hartnett sold 643 shares of the firm'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 value of $169,475.51. Following the transaction, the director 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Douglas G. Boessen sold 2,000 shares of Garmin stock in a transaction that occurred 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 in the company, valued at $6,197,317.59. This represents a 7.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 14.80% of the company's stock.

Analysts Set New Price Targets

GRMN has been the subject of a number of analyst reports. JPMorgan Chase & Co. upped their price objective on shares of Garmin from $265.00 to $285.00 and gave the stock a "neutral" rating in a research report on Thursday, April 16th. Barclays dropped their target price on Garmin from $240.00 to $238.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 30th. Wall Street Zen lowered Garmin from a "buy" rating to a "hold" rating in a research note on Saturday, June 20th. Zacks Research cut Garmin from a "strong-buy" rating to a "hold" rating in a report on Friday, May 1st. Finally, Morgan Stanley set a $249.00 price target on Garmin in a research report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $269.40.

Garmin News Roundup

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.

Garmin Stock Performance

NYSE:GRMN opened at $294.84 on Thursday. The company has a fifty day moving average of $240.78 and a two-hundred day moving average of $236.09. The stock has a market capitalization of $56.86 billion, a PE ratio of 32.87, a P/E/G ratio of 3.00 and a beta of 0.90. Garmin Ltd. has a fifty-two week low of $186.67 and a fifty-two week high of $304.00.

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, beating the consensus estimate of $2.30 by $0.51. The business had revenue of $2.02 billion for the quarter, compared to analyst estimates of $1.93 billion. Garmin had a net margin of 23.26% and a return on equity of 20.07%. The company's revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter last year, the business earned $2.17 earnings per share. Garmin has set its FY 2026 guidance at 10.000-10.000 EPS. Research analysts forecast that Garmin Ltd. will post 9.53 earnings per share for the current 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.

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.