Mitsubishi UFJ Asset Management Co. Ltd. Purchases 32,790 Shares of Garmin Ltd. $GRMN

Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Garmin Ltd. (NYSE:GRMN) by 11.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund 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. owned approximately 0.17% of Garmin worth $81,293,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC increased its stake in shares of 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 period. NewEdge Advisors LLC boosted its stake in Garmin by 6.2% during the 1st quarter. NewEdge Advisors LLC now owns 5,885 shares of the scientific and technical instruments company’s stock valued at $1,278,000 after purchasing an additional 345 shares during the period. Woodline Partners LP boosted its stake 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 holdings in Garmin by 51.1% in the 1st quarter. Focus Partners Wealth now owns 6,811 shares of the scientific and technical instruments company’s stock valued at $1,479,000 after buying an additional 2,304 shares during the last quarter. Finally, Sivia Capital Partners LLC increased its position in Garmin by 17.0% in 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 period. 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: 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.

Insiders Place Their Bets

In other Garmin news, COO Patrick Desbois sold 6,694 shares of the business’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $251.65, for a total value of $1,684,545.10. Following the transaction, the chief operating officer directly owned 58,540 shares in the company, valued at $14,731,591. The trade was a 10.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Douglas G. Boessen sold 3,487 shares of the firm’s stock in a transaction that occurred 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 sale, the chief financial officer directly owned 28,049 shares of the company’s stock, valued at approximately $7,058,811.34. The trade was a 11.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 57,319 shares of company stock worth $13,650,815 in the last quarter. 15.38% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on GRMN. Weiss Ratings reissued a “buy (b)” rating on shares of Garmin in a research report on Thursday, January 22nd. JPMorgan Chase & Co. raised their price target on shares of Garmin from $250.00 to $265.00 and gave the stock a “neutral” rating in a research report on Thursday, February 19th. Tigress Financial boosted their price objective on shares of Garmin from $310.00 to $320.00 and gave the stock a “strong-buy” rating in a report on Friday, February 20th. Barclays set a $240.00 target price on shares of Garmin in a research note on Thursday, February 19th. Finally, Zacks Research raised Garmin from a “hold” rating to a “strong-buy” rating in a report on Monday, February 23rd. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Garmin presently has an average rating of “Moderate Buy” and a consensus price target of $254.00.

Garmin Trading Down 0.7%

NYSE GRMN opened at $252.42 on Friday. Garmin Ltd. has a 1-year low of $169.26 and a 1-year 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 stock’s 50 day moving average is $213.48 and its two-hundred day moving average is $221.37.

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

Garmin Announces Dividend

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

About Garmin

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.