Garmin Ltd. $GRMN Shares Sold by Argent Capital Management LLC

Key Points

• Argent Capital Management reduced its Garmin stake by 10.3% in the first quarter, selling 9,404 shares and retaining 81,569 shares valued at approximately $18.9 million. Institutional investors collectively own 81.6% of Garmin.
• Garmin delivered a strong second-quarter earnings beat, reporting adjusted EPS of $2.81 versus expectations of $2.30 and revenue of $2.02 billion, up 11.4% year over year. The company raised its fiscal 2026 outlook, supported by demand for fitness products and wearables.
• Investor sentiment is positive but valuation remains a concern: the stock reached a 52-week high after the results, while insider selling and analyst targets—including Morgan Stanley’s $289 target—suggest limited near-term upside. Garmin shares opened at $295.17, near the high end of their recent range.

Argent Capital Management LLC cut its position in shares of Garmin Ltd. (NYSE:GRMN - Free Report) by 10.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 81,569 shares of the scientific and technical instruments company's stock after selling 9,404 shares during the quarter. Argent Capital Management LLC's holdings in Garmin were worth $18,925,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Brighton Jones LLC raised its position in shares of Garmin by 31.3% during the 4th quarter. Brighton Jones LLC now owns 1,943 shares of the scientific and technical instruments company's stock worth $401,000 after purchasing an additional 463 shares during the period. NewEdge Advisors LLC lifted its holdings in shares of Garmin by 6.2% in 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 during the last quarter. Woodline Partners LP boosted its position in Garmin by 40.6% during the 1st quarter. Woodline Partners LP now owns 13,017 shares of the scientific and technical instruments company's stock valued at $2,826,000 after purchasing an additional 3,757 shares during the period. Focus Partners Wealth grew its stake in Garmin by 51.1% during the 1st quarter. Focus Partners Wealth now owns 6,811 shares of the scientific and technical instruments company's stock worth $1,479,000 after buying an additional 2,304 shares during the last quarter. Finally, Sivia Capital Partners LLC grew its stake in Garmin by 17.0% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,662 shares of the scientific and technical instruments company's stock worth $347,000 after buying an additional 242 shares during the last quarter. Institutional investors and hedge funds own 81.60% of the company's stock.

Garmin News Roundup

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.

Insider Activity at Garmin

In related news, CEO Clifton A. Pemble sold 4,029 shares of the company's 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 directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Joseph J. Hartnett sold 643 shares of the firm's stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $263.57, for a total transaction of $169,475.51. Following the completion of the transaction, the director owned 21,277 shares in the company, valued at $5,607,978.89. The trade was a 2.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 8,810 shares of company stock valued at $2,478,157. 14.80% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Weiss Ratings restated a "buy (b)" rating on shares of Garmin in a research note on Monday, June 8th. Tigress Financial lifted 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. JPMorgan Chase & Co. raised their price objective on Garmin from $265.00 to $285.00 and gave the stock a "neutral" rating in a research note on Thursday, April 16th. Morgan Stanley lifted their target price on Garmin from $249.00 to $289.00 and gave the stock an "equal weight" rating in a report on Thursday. Finally, Wall Street Zen downgraded Garmin from a "buy" rating to a "hold" rating in a report on Saturday, June 20th. One investment 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. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $289.20.

Garmin Trading Down 0.8%

Shares of NYSE:GRMN opened at $295.17 on Friday. The stock has a market capitalization of $56.92 billion, a PE ratio of 30.43, a P/E/G ratio of 3.42 and a beta of 0.90. Garmin Ltd. has a 1 year low of $186.67 and a 1 year high of $304.00. The firm has a fifty day moving average price of $243.03 and a 200 day moving average price of $237.09.

Garmin (NYSE:GRMN - Get Free Report) 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, topping analysts' consensus estimates 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 quarter in the previous year, the firm earned $2.17 earnings per share. The business'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 forecast that Garmin Ltd. will post 9.8 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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