Mitsubishi UFJ Trust & Banking Corp Has $22.64 Million Stock Position in Garmin Ltd. $GRMN

Key Points

• Mitsubishi UFJ Trust & Banking Corp raised its stake in Garmin by 32.1% in Q4 to 111,621 shares, holding about $22.64 million worth of stock at quarter-end.
• Garmin posted a record Q1 with EPS of $2.08 (vs. $1.84 expected) and 14% revenue growth driven by a ~42% surge in fitness/wearables, but its slightly conservative FY2026 guidance (EPS ~9.35; revenue ~ $7.9B) prompted early profit-taking despite a 17% dividend hike and increased buybacks.
• Company insiders sold a total of 40,725 shares (~$10.21 million) last quarter — including CEO Clifton Pemble and COO Patrick Desbois — though insiders still own about 19.54% of Garmin's stock.

Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of Garmin Ltd. (NYSE:GRMN - Free Report) by 32.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 111,621 shares of the scientific and technical instruments company's stock after buying an additional 27,116 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned 0.06% of Garmin worth $22,642,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Penserra Capital Management LLC lifted its position in Garmin by 43.4% during the 3rd quarter. Penserra Capital Management LLC now owns 22,496 shares of the scientific and technical instruments company's stock worth $5,538,000 after buying an additional 6,806 shares in the last quarter. 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. Sumitomo Mitsui Trust Group Inc. lifted its position in Garmin by 4.7% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 429,030 shares of the scientific and technical instruments company's stock worth $105,636,000 after buying an additional 19,360 shares in the last quarter. Krilogy Financial LLC acquired a new position in Garmin during the 3rd quarter worth about $1,519,000. Finally, ARK Investment Management LLC lifted its position in Garmin by 10.9% during the 3rd quarter. ARK Investment Management LLC now owns 28,925 shares of the scientific and technical instruments company's stock worth $7,122,000 after buying an additional 2,852 shares in the last quarter. Institutional investors and hedge funds own 81.60% of the company's stock.

More Garmin News

Here are the key news stories impacting Garmin this week:

• Positive Sentiment: Q1 beats and record quarter — Garmin reported $2.08 EPS vs. $1.84 expected and $1.75B revenue (14% YoY), with record first-quarter revenue and operating income, a clear near-term earnings upside driver. Garmin announces first quarter 2026 results
• Positive Sentiment: Fitness/wearables surge — Fitness segment sales jumped ~42%, led by premium wearables, which is the main growth engine cited on the call and in coverage; that strengthens revenue mix and margins. Garmin Earnings Call: Fitness Surge Drives Record Q1
• Positive Sentiment: Dividend increase — Management announced a 17% dividend hike, which supports shareholder returns and can help steadier investor sentiment. Garmin Fitness Sales Soar 42%, But Stock Cools
• Neutral Sentiment: Analyst and media coverage — Transcripts, slide deck and call notes are available for deeper diligence; Morgan Stanley upgraded GRMN to equal-weight and raised its PT, which may limit downside but is not a strong buy signal. Earnings Call Transcript Morgan Stanley Upgrade
• Neutral Sentiment: Broad business strength — Aviation and Marine segments also showed steady demand, diversifying growth beyond wearables, per Reuters and Zacks coverage. Reuters: Garmin posts upbeat quarterly results
• Negative Sentiment: Conservative FY2026 guidance — Garmin set FY EPS at 9.350 (company range) vs. consensus ~9.39 and revenue guidance ~$7.9B vs. ~8.0B expected; the slightly below-consensus outlook triggered profit-taking despite the quarter beat. MarketBeat: Garmin trading summary & guidance
• Negative Sentiment: Initial market reaction volatility — Some coverage noted an early pullback after the release as investors digested the conservative guide and mixed signals between strong unit trends and lowered near-term expectations. Investor's Business Daily: Garmin Beats Q1 Goals But Sticks With Prior Full-Year Outlook

Insider Buying and Selling

In other news, CEO Clifton A. Pemble sold 19,914 shares of the company's stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $251.58, for a total value of $5,009,964.12. Following the completion of the sale, the chief executive officer directly owned 124,075 shares of the company's stock, valued at $31,214,788.50. This represents a 13.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Patrick Desbois sold 6,694 shares of the company'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 completion of the sale, the chief operating officer directly owned 58,540 shares of the company's stock, valued at approximately $14,731,591. This trade represents a 10.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 40,725 shares of company stock worth $10,213,222 over the last quarter. Insiders own 19.54% of the company's stock.

Garmin Trading Up 2.3%

Shares of NYSE:GRMN opened at $253.48 on Thursday. The stock has a market capitalization of $48.89 billion, a P/E ratio of 29.47, a P/E/G ratio of 3.08 and a beta of 0.96. Garmin Ltd. has a 1-year low of $178.74 and a 1-year high of $273.32. The business has a 50-day moving average price of $247.19 and a two-hundred day moving average price of $223.23.

Garmin (NYSE:GRMN - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The scientific and technical instruments company reported $2.08 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.24. The firm had revenue of $1.75 billion during the quarter, compared to analysts' expectations of $1.72 billion. Garmin had a return on equity of 19.64% and a net margin of 22.96%.The company's quarterly revenue was up 14.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.61 EPS. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. As a group, equities analysts predict that Garmin Ltd. will post 9.41 EPS for the current year.

Garmin Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 26th. Stockholders of record on Friday, March 12th will be paid a $1.05 dividend. The ex-dividend date of this dividend is Friday, March 12th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 1.7%. Garmin's dividend payout ratio is 48.84%.

Wall Street Analyst Weigh In

GRMN has been the subject of several recent research reports. Morgan Stanley raised Garmin from an "underweight" rating to an "equal weight" rating and boosted their price objective for the stock from $195.00 to $252.00 in a report on Tuesday. Tigress Financial boosted their price objective on Garmin from $310.00 to $320.00 and gave the stock a "strong-buy" rating in a report on Friday, February 20th. Weiss Ratings reissued a "buy (b)" rating on shares of Garmin in a report on Thursday, January 22nd. Barclays set a $240.00 price objective on Garmin in a report on Thursday, February 19th. Finally, JPMorgan Chase & Co. boosted their price objective on Garmin from $265.00 to $285.00 and gave the stock a "neutral" rating in a report on Thursday, April 16th. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $269.40.

Garmin Company 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.

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