California State Teachers Retirement System Sells 4,771 Shares of Garmin Ltd. $GRMN

California State Teachers Retirement System decreased its holdings in shares of Garmin Ltd. (NYSE:GRMN) by 1.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 256,878 shares of the scientific and technical instruments company’s stock after selling 4,771 shares during the quarter. California State Teachers Retirement System’s holdings in Garmin were worth $59,598,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new position in Garmin in the 4th quarter valued at approximately $395,234,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in Garmin in the 4th quarter valued at approximately $214,382,000. Man Group plc increased its position in Garmin by 232.0% in the 4th quarter. Man Group plc now owns 812,390 shares of the scientific and technical instruments company’s stock valued at $164,793,000 after acquiring an additional 567,711 shares during the period. Westfield Capital Management Co. LP bought a new position in shares of Garmin during the fourth quarter valued at $68,106,000. Finally, SG Americas Securities LLC lifted its holdings in Garmin by 192.8% during the 1st quarter. SG Americas Securities LLC now owns 506,273 shares of the scientific and technical instruments company’s stock worth $117,460,000 after buying an additional 333,345 shares during the period. 81.60% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

GRMN has been the subject of several analyst reports. Morgan Stanley raised their price target on shares of Garmin from $249.00 to $289.00 and gave the stock an “equal weight” rating in a report on Thursday. Zacks Research cut shares of Garmin from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 1st. Weiss Ratings restated a “buy (b)” rating on shares of Garmin in a report on Monday, June 8th. JPMorgan Chase & Co. raised their price objective 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. Finally, Tigress Financial lifted their price target on Garmin from $320.00 to $325.00 and gave the company a “strong-buy” rating in a research note on Wednesday, May 20th. One 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $289.20.

Garmin Stock Up 0.9%

GRMN opened at $297.50 on Friday. The firm has a 50-day moving average price of $241.94 and a 200-day moving average price of $236.69. The company has a market capitalization of $57.38 billion, a price-to-earnings ratio of 30.67, a PEG ratio of 3.48 and a beta of 0.90. Garmin Ltd. has a twelve month low of $186.67 and a twelve month high of $304.00.

Garmin (NYSE:GRMN) last announced its quarterly earnings results on Wednesday, July 29th. The scientific and technical instruments company reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.51. Garmin had a return on equity of 20.95% and a net margin of 24.47%.The company had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $1.93 billion. During the same period in the previous year, the business earned $2.17 earnings per share. The firm’s quarterly revenue was up 11.4% compared to the same quarter last year. Garmin has set its FY 2026 guidance at 10.000-10.000 EPS. On average, sell-side analysts expect that Garmin Ltd. will post 9.53 earnings per share for the current fiscal year.

Insider Buying and Selling at Garmin

In other news, CFO Douglas G. Boessen sold 2,000 shares of the company’s stock in a transaction 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Joseph J. Hartnett sold 643 shares of the stock in a transaction 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 completion of the sale, the director owned 21,277 shares in the company, valued at $5,607,978.89. This trade represents a 2.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 14.80% of the company’s stock.

Key Stories Impacting Garmin

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?

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.