Arrowstreet Capital Limited Partnership Purchases 59,229 Shares of Garmin Ltd. $GRMN

Key Points

• Arrowstreet Capital more than doubled its Garmin stake in the first quarter, purchasing 59,229 additional shares to own 107,929 shares valued at approximately $25 million. Institutional investors collectively hold 81.6% of Garmin’s stock.
• Garmin reported strong quarterly results, with EPS of $2.81 and revenue of $2.02 billion, exceeding analyst expectations; revenue increased 11.4% year over year, led in part by a 25% rise in Fitness revenue.
• Analyst sentiment remains moderately bullish, with a consensus “Moderate Buy” rating and a $269.40 target price, although some analysts downgraded the stock to Hold. Garmin also raised its fiscal 2026 guidance to $10.00 EPS and $8.1 billion in revenue, while insiders reported recent sales.

Arrowstreet Capital Limited Partnership raised its holdings in Garmin Ltd. (NYSE:GRMN - Free Report) by 121.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 107,929 shares of the scientific and technical instruments company's stock after buying an additional 59,229 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.06% of Garmin worth $25,041,000 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. Brighton Jones LLC boosted its holdings 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 valued at $401,000 after purchasing an additional 463 shares during the period. NewEdge Advisors LLC grew its position in shares of Garmin by 6.2% during the 1st quarter. NewEdge Advisors LLC now owns 5,885 shares of the scientific and technical instruments company's stock worth $1,278,000 after purchasing an additional 345 shares in the last quarter. Woodline Partners LP increased its holdings in shares of 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 purchasing an additional 3,757 shares during the period. Focus Partners Wealth raised its position in shares of Garmin by 51.1% in 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 in the last quarter. Finally, Sivia Capital Partners LLC raised its position in shares of Garmin by 17.0% in 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 in the last quarter. 81.60% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on GRMN shares. Zacks Research lowered Garmin from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 1st. Weiss Ratings reissued a "buy (b)" rating on shares of Garmin in a report on Monday, June 8th. Barclays decreased their price target 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 cut shares of Garmin from a "buy" rating to a "hold" rating in a research report on Saturday, June 20th. Finally, Tigress Financial increased their price objective on shares of Garmin from $320.00 to $325.00 and gave the stock a "strong-buy" rating in a research note on Wednesday, May 20th. One research 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. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $269.40.

Insider Transactions at Garmin

In other news, CFO Douglas G. Boessen sold 2,000 shares of the 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 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Joseph J. Hartnett sold 643 shares of the stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $263.57, for a total value of $169,475.51. Following the sale, the director owned 21,277 shares of the company's stock, valued at approximately $5,607,978.89. The trade was a 2.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 14.80% of the company's stock.

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 Trading Up 16.2%

Shares of GRMN stock opened at $294.84 on Thursday. The firm has a market capitalization of $56.86 billion, a price-to-earnings ratio of 32.87, a PEG ratio of 3.00 and a beta of 0.90. The business's 50-day moving average price is $240.78 and its 200-day moving average price is $236.09. Garmin Ltd. has a 12 month low of $186.67 and a 12 month high of $304.00.

Garmin (NYSE:GRMN - Get Free Report) last released its quarterly earnings data 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. Garmin had a return on equity of 20.07% and a net margin of 23.26%.The company had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $1.93 billion. During the same quarter in the prior year, the firm posted $2.17 earnings per share. The firm's 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 predict that Garmin Ltd. will post 9.53 earnings per share for the current fiscal year.

Garmin 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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