Garmin Ltd. $GRMN Shares Acquired by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Garmin Ltd. (NYSE:GRMN) by 5.2% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 297,373 shares of the scientific and technical instruments company’s stock after purchasing an additional 14,622 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Garmin were worth $62,068,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. AQR Capital Management LLC lifted its holdings in shares of Garmin by 79.3% during the first quarter. AQR Capital Management LLC now owns 1,585,170 shares of the scientific and technical instruments company’s stock worth $340,574,000 after purchasing an additional 700,967 shares during the period. Nuveen LLC acquired a new stake in Garmin during the first quarter valued at $78,900,000. Vanguard Group Inc. grew its position in shares of Garmin by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 18,425,166 shares of the scientific and technical instruments company’s stock valued at $4,000,656,000 after acquiring an additional 357,458 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Garmin by 21.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,210,827 shares of the scientific and technical instruments company’s stock valued at $262,907,000 after buying an additional 211,731 shares in the last quarter. Finally, Clark Capital Management Group Inc. purchased a new stake in Garmin in the 1st quarter worth $40,322,000. Institutional investors and hedge funds own 81.60% of the company’s stock.

Garmin Price Performance

Garmin stock opened at $200.91 on Monday. The firm has a 50 day simple moving average of $239.16 and a 200-day simple moving average of $222.41. The stock has a market cap of $38.64 billion, a price-to-earnings ratio of 24.74, a price-to-earnings-growth ratio of 2.41 and a beta of 1.01. Garmin Ltd. has a 1-year low of $169.26 and a 1-year high of $261.69.

Garmin (NYSE:GRMN) last released its quarterly earnings data on Wednesday, October 29th. The scientific and technical instruments company reported $1.99 EPS for the quarter, meeting analysts’ consensus estimates of $1.99. The firm had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.78 billion. Garmin had a return on equity of 19.42% and a net margin of 22.63%.The firm’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.99 earnings per share. Garmin has set its FY 2025 guidance at 8.150-8.150 EPS. Equities analysts expect that Garmin Ltd. will post 7.8 earnings per share for the current fiscal year.

Insider Activity at Garmin

In other news, insider Cheng-Wei Wang sold 10,202 shares of the stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $232.48, for a total transaction of $2,371,760.96. Following the completion of the transaction, the insider directly owned 36,092 shares in the company, valued at approximately $8,390,668.16. This represents a 22.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 15.38% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on GRMN shares. Barclays boosted their price objective on Garmin from $167.00 to $208.00 and gave the stock an “underweight” rating in a research note on Thursday, October 30th. Morgan Stanley raised their target price on shares of Garmin from $193.00 to $195.00 and gave the stock an “underweight” rating in a research note on Thursday, October 30th. Weiss Ratings restated a “buy (b)” rating on shares of Garmin in a report on Wednesday, October 8th. Tigress Financial increased their price target on Garmin from $285.00 to $305.00 and gave the company a “strong-buy” rating in a report on Tuesday, September 30th. Finally, JPMorgan Chase & Co. lifted their price objective on Garmin from $215.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Garmin presently has a consensus rating of “Hold” and a consensus target price of $239.50.

Garmin Company Profile

Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of wireless devices worldwide. Its Fitness segment offers running and multi-sport watches; cycling products; smartwatch devices; scales and monitors; and fitness accessories. This segment also provides Garmin Connect and Garmin Connect Mobile, which are web and mobile platforms where users can track and analyze their fitness, activities and workouts, and wellness data; and Connect IQ, an application development platform.