Garmin Ltd. $GRMN Shares Sold by Edgestream Partners L.P.

Edgestream Partners L.P. reduced its stake in Garmin Ltd. (NYSE:GRMN - Free Report) by 23.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,115 shares of the scientific and technical instruments company's stock after selling 8,154 shares during the quarter. Edgestream Partners L.P.'s holdings in Garmin were worth $6,291,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of GRMN. Reflection Asset Management purchased a new stake in shares of Garmin in the fourth quarter valued at about $32,000. Atlas Capital Advisors Inc. purchased a new position in Garmin during the fourth quarter worth about $34,000. Archer Investment Corp acquired a new position in Garmin in the 1st quarter valued at about $37,000. GraniteShares Advisors LLC acquired a new position in Garmin in the 4th quarter valued at about $41,000. Finally, Torren Management LLC purchased a new stake in shares of Garmin in the 4th quarter valued at approximately $41,000. 81.60% of the stock is owned by institutional investors and hedge funds.

Garmin Stock Performance

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

Garmin (NYSE:GRMN - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The scientific and technical instruments company reported $2.81 EPS 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 for the quarter, compared to analysts' expectations of $1.93 billion. During the same period in the prior year, the firm earned $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. As a group, equities research analysts forecast that Garmin Ltd. will post 9.53 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Barclays raised their price target on shares of Garmin from $238.00 to $297.00 and gave the stock an "equal weight" rating in a report on Thursday. JPMorgan Chase & Co. increased their price objective on Garmin from $265.00 to $285.00 and gave the stock a "neutral" rating in a research report on Thursday, April 16th. Zacks Research cut Garmin from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 1st. Morgan Stanley lifted their target price on Garmin from $249.00 to $289.00 and gave the company an "equal weight" rating in a research report on Thursday. Finally, Wall Street Zen lowered 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 issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $289.20.

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?

Insider Activity

In related news, CFO Douglas G. Boessen sold 2,000 shares of the stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $237.91, for a total transaction 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 position. The transaction was disclosed in a legal 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 dated Tuesday, June 9th. The shares were sold at an average price of $263.57, for a total value of $169,475.51. Following the transaction, the director owned 21,277 shares of the company's stock, valued at $5,607,978.89. This trade represents a 2.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 14.80% of the stock is currently owned by corporate insiders.

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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