Edgestream Partners L.P. Cuts Stock Holdings in Garmin Ltd. $GRMN

Posted by Brian Himes on Jul 31st, 2026

Edgestream Partners L.P. cut its stake in Garmin Ltd. (NYSE:GRMN – Free Report) by 23.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 27,115 shares of the scientific and technical instruments company’s stock after selling 8,154 shares during the period. Edgestream Partners L.P.’s holdings in Garmin were worth $6,291,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. State Street Corp raised its position in Garmin by 1.8% in the 3rd quarter. State Street Corp now owns 7,250,844 shares of the scientific and technical instruments company’s stock valued at $1,785,304,000 after purchasing an additional 126,677 shares in the last quarter. Norges Bank acquired a new position in shares of Garmin during the fourth quarter worth about $395,234,000. Northern Trust Corp increased its stake in shares of Garmin by 3.8% during the fourth quarter. Northern Trust Corp now owns 1,719,677 shares of the scientific and technical instruments company’s stock worth $348,836,000 after buying an additional 63,283 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Garmin by 2.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,631,843 shares of the scientific and technical instruments company’s stock worth $378,540,000 after buying an additional 40,474 shares during the period. Finally, Disciplined Growth Investors Inc. MN raised its holdings in Garmin by 0.4% in the second quarter. Disciplined Growth Investors Inc. MN now owns 1,419,365 shares of the scientific and technical instruments company’s stock valued at $296,250,000 after acquiring an additional 5,213 shares in the last quarter. 81.60% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently issued reports on GRMN shares. Wall Street Zen downgraded shares of Garmin from a “buy” rating to a “hold” rating in a research note on Saturday, June 20th. Weiss Ratings reissued a “buy (b)” rating on shares of Garmin in a research 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 report on Thursday, April 16th. 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 report on Wednesday, May 20th. Finally, Zacks Research downgraded shares of Garmin from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Garmin presently has a consensus rating of “Moderate Buy” and a consensus target price of $289.20.

View Our Latest Report on GRMN

Garmin Stock Performance

Shares of NYSE:GRMN opened at $297.50 on Friday. Garmin Ltd. has a one year low of $186.67 and a one year high of $304.00. The stock 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. The company has a 50-day simple moving average of $241.94 and a 200-day simple moving average 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.30 by $0.51. The firm had revenue of $2.02 billion for the quarter, compared to analyst estimates of $1.93 billion. Garmin had a return on equity of 20.95% and a net margin of 24.47%.The business’s revenue was up 11.4% on a year-over-year basis. During the same quarter last year, the company posted $2.17 earnings per share. Garmin has set its FY 2026 guidance at 10.000-10.000 EPS. As a group, research analysts forecast that Garmin Ltd. will post 9.53 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Douglas G. Boessen sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The stock was 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 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 document filed with the Securities & Exchange Commission, which is available through this link. 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 sale, the director directly owned 21,277 shares of the company’s stock, valued at approximately $5,607,978.89. This represents a 2.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 14.80% of the stock is currently owned by company insiders.

More Garmin News

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 Profile

(Free Report)

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.