The Manufacturers Life Insurance Company Has $26.88 Million Stock Holdings in Garmin Ltd. $GRMN

The Manufacturers Life Insurance Company trimmed its holdings in shares of Garmin Ltd. (NYSE:GRMN) by 8.8% in the first quarter, Holdings Channel.com reports. The fund owned 115,869 shares of the scientific and technical instruments company’s stock after selling 11,163 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Garmin were worth $26,883,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Quantinno Capital Management LP increased its stake in Garmin by 51.2% in the first quarter. Quantinno Capital Management LP now owns 351,241 shares of the scientific and technical instruments company’s stock valued at $81,491,000 after acquiring an additional 119,011 shares during the period. SummitTX Capital L.P. lifted its stake in Garmin by 296.6% during the first quarter. SummitTX Capital L.P. now owns 14,268 shares of the scientific and technical instruments company’s stock worth $3,310,000 after purchasing an additional 10,670 shares during the period. Lazard Asset Management LLC lifted its stake in Garmin by 49.7% during the first quarter. Lazard Asset Management LLC now owns 120,166 shares of the scientific and technical instruments company’s stock worth $27,880,000 after purchasing an additional 39,901 shares during the period. Gateway Wealth Partners LLC acquired a new stake in Garmin during the first quarter valued at approximately $325,000. Finally, Weiss Asset Management LP boosted its holdings in Garmin by 9.4% during the first quarter. Weiss Asset Management LP now owns 27,900 shares of the scientific and technical instruments company’s stock valued at $6,473,000 after purchasing an additional 2,389 shares in the last quarter. 81.60% of the stock is currently owned by institutional investors and hedge funds.

Key Garmin News

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.

Wall Street Analyst Weigh In

GRMN has been the subject of a number of recent research reports. Tigress Financial increased their target price 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 upped their price target on Garmin from $249.00 to $289.00 and gave the company an “equal weight” rating in a research report on Thursday. Barclays increased their price objective on Garmin from $238.00 to $297.00 and gave the stock an “equal weight” rating in a research note on Thursday. JPMorgan Chase & Co. lifted their price objective on Garmin from $265.00 to $285.00 and gave the company a “neutral” rating in a report on Thursday, April 16th. Finally, Zacks Research downgraded shares of Garmin from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $289.20.

Garmin Trading Down 0.8%

Shares of Garmin stock opened at $295.17 on Friday. The stock has a market capitalization of $56.92 billion, a price-to-earnings ratio of 30.43, a P/E/G ratio of 3.42 and a beta of 0.90. The firm’s 50-day moving average price is $243.03 and its two-hundred day moving average price is $237.09. Garmin Ltd. has a 1-year low of $186.67 and a 1-year high of $304.00.

Garmin (NYSE:GRMN) last posted its earnings results on Wednesday, July 29th. The scientific and technical instruments company reported $2.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.51. The company had revenue of $2.02 billion during 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%. Garmin’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.17 earnings per share. Garmin has set its FY 2026 guidance at 10.000-10.000 EPS. As a group, equities research analysts predict that Garmin Ltd. will post 9.8 EPS for the current year.

Insider Activity

In other Garmin news, CEO Clifton A. Pemble sold 4,029 shares of Garmin stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $300.00, for a total value of $1,208,700.00. Following the completion of the transaction, the chief executive officer owned 120,127 shares in the company, valued at approximately $36,038,100. The trade was a 3.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Joshua H. Maxfield sold 1,152 shares of the business’s stock in a transaction on Friday, July 31st. The stock was sold at an average price of $291.13, for a total value of $335,381.76. Following the completion of the transaction, the vice president directly owned 15,042 shares in the company, valued at approximately $4,379,177.46. This represents a 7.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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.

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.