Convergence Investment Partners LLC Trims Stake in Garmin Ltd. $GRMN

Convergence Investment Partners LLC reduced its position in shares of Garmin Ltd. (NYSE:GRMN) by 36.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,519 shares of the scientific and technical instruments company’s stock after selling 2,648 shares during the period. Convergence Investment Partners LLC’s holdings in Garmin were worth $917,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Brighton Jones LLC lifted its stake in Garmin by 31.3% in the fourth 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 last quarter. NewEdge Advisors LLC lifted its stake in Garmin by 6.2% in the first 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 raised its stake 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 valued at $2,826,000 after acquiring an additional 3,757 shares during the last quarter. Focus Partners Wealth raised its stake in shares of Garmin by 51.1% during 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 acquiring an additional 2,304 shares during the last quarter. Finally, Sivia Capital Partners LLC raised its stake in shares of Garmin by 17.0% during 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 acquiring an additional 242 shares during the last quarter. 81.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on GRMN. Morgan Stanley set a $249.00 price objective on shares of Garmin in a research note on Thursday, April 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Garmin in a research note on Thursday, January 22nd. Zacks Research downgraded shares of Garmin from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. Barclays reduced their price target on shares of Garmin from $240.00 to $238.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 30th. Finally, Tigress Financial boosted their price target on shares of Garmin from $310.00 to $320.00 and gave the company a “strong-buy” rating in a research report on Friday, February 20th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $268.40.

Garmin News Summary

Here are the key news stories impacting Garmin this week:

• Positive Sentiment: Zacks Research raised its FY2027 EPS estimate for Garmin to $9.82 from $9.74 and lifted its Q1 2028 estimate to $2.02 from $1.93, suggesting better longer-term earnings expectations.
• Positive Sentiment: The broader analyst note still shows Garmin expected to grow earnings over time, with Zacks also forecasting FY2028 EPS of $10.93, despite a small reduction from prior estimates.
• Neutral Sentiment: Zacks kept a Hold rating on Garmin, signaling a cautious but not bearish stance overall.
• Neutral Sentiment: Garmin recently beat quarterly earnings and revenue expectations, which provides a supportive backdrop, but that news is being offset today by the new analyst revisions. Garmin stock page
• Negative Sentiment: Zacks cut near-term EPS estimates for Q2 2026 to $2.13 from $2.26, Q3 2026 to $2.32 from $2.38, Q4 2026 to $2.81 from $2.90, and Q4 2027 to $3.18 from $3.23, which can pressure the stock by implying softer earnings momentum.
• Negative Sentiment: Zacks also lowered Garmin’s Q2 2027 and FY2028 estimates slightly, reinforcing a more cautious near- to medium-term outlook for earnings growth.

Insider Activity

In other news, CEO Clifton A. Pemble sold 19,914 shares of the stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $251.58, for a total transaction of $5,009,964.12. Following the sale, the chief executive officer owned 124,075 shares in the company, valued at $31,214,788.50. This represents a 13.83% 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, CFO Douglas G. Boessen sold 3,487 shares of the stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $251.66, for a total transaction of $877,538.42. Following the sale, the chief financial officer owned 28,049 shares in the company, valued at approximately $7,058,811.34. The trade was a 11.06% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 40,246 shares of company stock valued at $10,110,041. Company insiders own 15.38% of the company’s stock.

Garmin Stock Down 3.6%

NYSE:GRMN opened at $226.04 on Friday. The company’s 50 day moving average price is $244.83 and its 200-day moving average price is $222.45. Garmin Ltd. has a 52 week low of $186.67 and a 52 week high of $273.32. The stock has a market cap of $43.59 billion, a price-to-earnings ratio of 25.20, a PEG ratio of 2.66 and a beta of 0.94.

Garmin (NYSE:GRMN) last posted its quarterly earnings results on Wednesday, April 29th. The scientific and technical instruments company reported $2.08 EPS for the quarter, beating analysts’ consensus estimates of $1.84 by $0.24. Garmin had a net margin of 23.26% and a return on equity of 20.07%. The firm had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter in the prior year, the company posted $1.61 earnings per share. The business’s revenue for the quarter was up 14.0% on a year-over-year basis. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. As a group, sell-side analysts anticipate that Garmin Ltd. will post 9.57 earnings per share for the current year.

Garmin Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 26th. Stockholders of record on Friday, March 12th will be issued a dividend of $1.05 per share. The ex-dividend date is Friday, March 12th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 1.9%. Garmin’s dividend payout ratio is presently 40.13%.

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.