Mitsubishi UFJ Asset Management Co. Ltd. Has $81.29 Million Position in Garmin Ltd. $GRMN

Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Garmin Ltd. (NYSE:GRMN) by 11.0% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 330,163 shares of the scientific and technical instruments company’s stock after buying an additional 32,790 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Garmin were worth $81,293,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Andra AP fonden increased its position in shares of Garmin by 87.2% during the second quarter. Andra AP fonden now owns 67,000 shares of the scientific and technical instruments company’s stock worth $13,984,000 after acquiring an additional 31,200 shares in the last quarter. Penserra Capital Management LLC boosted its holdings in Garmin by 43.4% during the third quarter. Penserra Capital Management LLC now owns 22,496 shares of the scientific and technical instruments company’s stock worth $5,538,000 after purchasing an additional 6,806 shares during the last quarter. EFG Asset Management Americas Corp. grew its position in Garmin by 34.1% in the second quarter. EFG Asset Management Americas Corp. now owns 10,455 shares of the scientific and technical instruments company’s stock valued at $2,182,000 after purchasing an additional 2,659 shares in the last quarter. First Horizon Advisors Inc. increased its stake in Garmin by 4.2% in the 2nd quarter. First Horizon Advisors Inc. now owns 121,552 shares of the scientific and technical instruments company’s stock valued at $25,370,000 after buying an additional 4,943 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in Garmin by 25.9% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,584 shares of the scientific and technical instruments company’s stock worth $5,314,000 after buying an additional 4,437 shares in the last quarter. 81.60% of the stock is owned by institutional investors.

More Garmin News

Here are the key news stories impacting Garmin this week:

• Positive Sentiment: Rare institutional inflows continue to target Garmin, a long-term bullish technical/fund flow signal that some investors view as a structural tailwind. This can attract new demand and partly offset selling pressure. Read More.
• Neutral Sentiment: Despite the sales, insiders still retain sizable holdings (for example, CEO Clifton Pemble owns 124,075 shares after his sale), which can temper concerns that leadership is abandoning the stock. Read More.
• Negative Sentiment: Large, coordinated insider selling likely pressured the share price: CEO Clifton Pemble sold 19,914 shares (~$5.01M), COO Patrick Desbois sold 6,694 shares (~$1.68M), EVP Matthew Munn sold 5,275 shares (~$1.32M), CFO Douglas Boessen sold 3,487 shares (~$877.5K), and VP Susan Lyman sold 3,805 shares (~$956K). These trades represent double-digit percentage reductions for several executives and are being interpreted by some investors as a negative signal or as near-term supply hitting the market. SEC filings for each sale: Read More., Read More., Read More., Read More., Read More.

Insider Transactions at Garmin

In other Garmin news, CFO Douglas G. Boessen sold 3,487 shares of the stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $251.66, for a total transaction of $877,538.42. Following the transaction, the chief financial officer owned 28,049 shares in the company, valued at $7,058,811.34. This trade represents a 11.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Susan Lyman sold 3,805 shares of Garmin stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $251.32, for a total value of $956,272.60. Following the sale, the vice president directly owned 7,471 shares of the company’s stock, valued at $1,877,611.72. This represents a 33.74% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 57,319 shares of company stock worth $13,650,815. 15.38% of the stock is currently owned by company insiders.

Garmin Stock Performance

Shares of GRMN stock opened at $252.42 on Friday. Garmin Ltd. has a 52 week low of $169.26 and a 52 week high of $261.69. The company has a market capitalization of $48.59 billion, a price-to-earnings ratio of 29.35, a PEG ratio of 3.04 and a beta of 1.00. The company has a 50-day simple moving average of $213.48 and a 200 day simple moving average of $221.37.

Garmin (NYSE:GRMN) last issued its quarterly earnings data on Wednesday, February 18th. The scientific and technical instruments company reported $2.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.39 by $0.40. Garmin had a net margin of 22.96% and a return on equity of 19.64%. The firm had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $2.01 billion. During the same period last year, the business posted $2.41 earnings per share. The business’s revenue for the quarter was up 16.6% compared to the same quarter last year. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. Sell-side analysts forecast that Garmin Ltd. will post 7.8 EPS for the current year.

Garmin Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 26th. Investors of record on Friday, March 12th will be paid a $1.05 dividend. The ex-dividend date is Friday, March 12th. This represents a $4.20 annualized dividend and a yield of 1.7%. Garmin’s payout ratio is 41.86%.

Wall Street Analyst Weigh In

Several brokerages recently commented on GRMN. Longbow Research raised Garmin from a “neutral” rating to a “buy” rating and set a $250.00 price target for the company in a research report on Wednesday, December 3rd. JPMorgan Chase & Co. increased their price objective on Garmin from $250.00 to $265.00 and gave the company a “neutral” rating in a report on Thursday, February 19th. Zacks Research raised shares of Garmin from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 23rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Garmin in a research report on Thursday, January 22nd. Finally, Barclays set a $240.00 price objective on shares of Garmin in a research report on Thursday, February 19th. Two analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $254.00.

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.