Mitsubishi UFJ Asset Management Co. Ltd. Boosts Stock Position in Garmin Ltd. $GRMN

Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Garmin Ltd. (NYSE:GRMN) by 5.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm 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. owned about 0.15% of Garmin worth $62,068,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Quaker Wealth Management LLC grew its holdings in shares of Garmin by 200.0% in the second quarter. Quaker Wealth Management LLC now owns 132 shares of the scientific and technical instruments company’s stock worth $28,000 after purchasing an additional 264 shares during the last quarter. Groupe la Francaise purchased a new stake in Garmin in the 1st quarter valued at about $33,000. Zions Bancorporation National Association UT bought a new position in Garmin in the 1st quarter worth about $38,000. SOA Wealth Advisors LLC. increased its position in shares of Garmin by 27.5% during the second quarter. SOA Wealth Advisors LLC. now owns 269 shares of the scientific and technical instruments company’s stock worth $56,000 after acquiring an additional 58 shares during the period. Finally, Harbour Investments Inc. increased its position in shares of Garmin by 31.8% during the first quarter. Harbour Investments Inc. now owns 265 shares of the scientific and technical instruments company’s stock worth $58,000 after acquiring an additional 64 shares during the period. 81.60% of the stock is currently owned by institutional investors.

Garmin Trading Down 1.5%

Shares of NYSE:GRMN opened at $200.91 on Monday. The company has a market capitalization of $38.64 billion, a PE ratio of 24.74, a P/E/G ratio of 2.41 and a beta of 1.01. Garmin Ltd. has a 12-month low of $169.26 and a 12-month high of $261.69. The business’s fifty day simple moving average is $239.16 and its 200-day simple moving average is $222.41.

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

Wall Street Analyst Weigh In

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

Insider Activity at Garmin

In other news, insider Cheng-Wei Wang sold 10,202 shares of the firm’s stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $232.48, for a total value of $2,371,760.96. Following the sale, the insider directly owned 36,092 shares in the company, valued at approximately $8,390,668.16. This trade represents a 22.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 15.38% of the company’s stock.

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.