Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Has $3.29 Million Stock Position in Garmin Ltd. (NASDAQ:GRMN)

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in shares of Garmin Ltd. (NASDAQ:GRMN) by 14.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,620 shares of the scientific and technical instruments company’s stock after purchasing an additional 4,160 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Garmin were worth $3,285,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Amundi Pioneer Asset Management Inc. lifted its position in Garmin by 30.4% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 233,012 shares of the scientific and technical instruments company’s stock valued at $20,121,000 after purchasing an additional 54,258 shares during the period. BlackRock Inc. lifted its position in Garmin by 7.4% in the second quarter. BlackRock Inc. now owns 11,943,119 shares of the scientific and technical instruments company’s stock valued at $953,060,000 after purchasing an additional 824,805 shares during the period. Wealthfront Advisers LLC lifted its position in Garmin by 12.6% in the third quarter. Wealthfront Advisers LLC now owns 9,102 shares of the scientific and technical instruments company’s stock valued at $771,000 after purchasing an additional 1,022 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in Garmin by 6.5% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 8,306 shares of the scientific and technical instruments company’s stock valued at $703,000 after purchasing an additional 505 shares during the period. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in Garmin in the third quarter valued at about $311,000. Institutional investors and hedge funds own 45.85% of the company’s stock.

GRMN stock opened at $98.18 on Friday. The firm has a 50 day moving average of $98.14 and a 200-day moving average of $90.51. Garmin Ltd. has a 12-month low of $70.86 and a 12-month high of $102.42. The company has a current ratio of 2.64, a quick ratio of 1.93 and a debt-to-equity ratio of 0.01. The company has a market cap of $19.47 billion, a price-to-earnings ratio of 23.52, a PEG ratio of 3.13 and a beta of 0.90.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.32%. Garmin’s payout ratio is 61.79%.

A number of equities research analysts have recently issued reports on the stock. ValuEngine downgraded shares of Garmin from a “hold” rating to a “sell” rating in a research report on Tuesday, February 4th. Tigress Financial reiterated a “buy” rating on shares of Garmin in a research report on Wednesday, November 27th. Morgan Stanley lifted their price target on shares of Garmin from $81.00 to $85.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. Credit Suisse Group upgraded shares of Garmin from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $73.00 to $100.00 in a research report on Monday, January 27th. Finally, BidaskClub downgraded shares of Garmin from a “hold” rating to a “sell” rating in a research report on Friday, February 7th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $86.99.

Garmin Profile

Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of navigation, communication, and information devices worldwide. It operates through five segments: Auto, Aviation, Marine, Outdoor, and Fitness. The Auto segment offers personal navigation devices; infotainment systems; and action cameras, as well as mobile applications under the Garmin and NAVIGON names.

Further Reading: Dividend Achievers

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Institutional Ownership by Quarter for Garmin (NASDAQ:GRMN)

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