Royal Bank of Canada Has $92.81 Million Holdings in Garmin Ltd. $GRMN

Royal Bank of Canada boosted its position in shares of Garmin Ltd. (NYSE:GRMN) by 2.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 400,031 shares of the scientific and technical instruments company’s stock after purchasing an additional 10,638 shares during the period. Royal Bank of Canada owned about 0.21% of Garmin worth $92,811,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new position in shares of Garmin during the fourth quarter worth about $395,234,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in Garmin in the 4th quarter valued at approximately $214,382,000. Man Group plc raised 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 buying an additional 567,711 shares during the last quarter. Westfield Capital Management Co. LP bought a new stake in Garmin in the 4th quarter valued at approximately $68,106,000. Finally, SG Americas Securities LLC boosted its position 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 acquiring an additional 333,345 shares during the last quarter. 81.60% of the stock is currently owned by institutional investors.

Garmin Stock Down 0.8%

GRMN stock opened at $295.17 on Friday. The business has a 50 day moving average price of $243.03 and a two-hundred day moving average price of $237.09. The company has a market cap 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. Garmin Ltd. has a twelve month low of $186.67 and a twelve month high of $304.00.

Garmin (NYSE:GRMN) last posted its quarterly earnings results on Wednesday, July 29th. The scientific and technical instruments company reported $2.81 earnings per share for the quarter, topping 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 firm had revenue of $2.02 billion for the quarter, compared to analyst estimates of $1.93 billion. During the same quarter in the previous year, the firm earned $2.17 EPS. The business’s quarterly revenue 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, equities research analysts anticipate that Garmin Ltd. will post 9.8 EPS for the current fiscal year.

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.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. 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 research note on Thursday. Zacks Research lowered shares of Garmin from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 1st. Tigress Financial increased their target price on shares of Garmin from $320.00 to $325.00 and gave the stock a “strong-buy” rating in a report on Wednesday, May 20th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Garmin in a research report on Monday, June 8th. Finally, Wall Street Zen lowered shares of Garmin from a “buy” rating to a “hold” rating in a research note on Saturday, June 20th. One 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 stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $289.20.

Insiders Place Their Bets

In other Garmin 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 transaction of $475,820.00. Following 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Clifton A. Pemble sold 4,029 shares of the stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $300.00, for a total transaction of $1,208,700.00. Following the completion of the sale, the chief executive officer owned 120,127 shares of the company’s stock, valued at approximately $36,038,100. This represents a 3.25% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 8,810 shares of company stock valued at $2,478,157 in the last ninety days. 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.