Mirae Asset Global Investments Co. Ltd. Sells 204,829 Shares of Trimble Inc. (NASDAQ:TRMB)

Mirae Asset Global Investments Co. Ltd. reduced its stake in shares of Trimble Inc. (NASDAQ:TRMB) by 14.4% in the first quarter, according to its most recent filing with the SEC. The fund owned 1,216,293 shares of the scientific and technical instruments company’s stock after selling 204,829 shares during the period. Mirae Asset Global Investments Co. Ltd. owned approximately 0.50% of Trimble worth $78,281,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in TRMB. FMR LLC boosted its position in Trimble by 27.9% during the third quarter. FMR LLC now owns 235,950 shares of the scientific and technical instruments company’s stock valued at $12,708,000 after buying an additional 51,506 shares during the period. O Shaughnessy Asset Management LLC purchased a new stake in Trimble during the third quarter valued at about $335,000. Trexquant Investment LP purchased a new stake in Trimble during the third quarter valued at about $597,000. Quadrature Capital Ltd bought a new position in shares of Trimble during the third quarter valued at about $357,000. Finally, Ameriprise Financial Inc. raised its stake in shares of Trimble by 3.0% during the third quarter. Ameriprise Financial Inc. now owns 3,321,336 shares of the scientific and technical instruments company’s stock valued at $178,887,000 after acquiring an additional 95,588 shares during the last quarter. 93.21% of the stock is owned by institutional investors.

Insider Buying and Selling at Trimble

In other news, SVP Peter Large sold 1,447 shares of the stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $59.10, for a total transaction of $85,517.70. Following the sale, the senior vice president now owns 8,220 shares in the company, valued at $485,802. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, CEO Robert G. Painter sold 3,500 shares of the firm’s stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $62.50, for a total value of $218,750.00. Following the sale, the chief executive officer now owns 183,555 shares in the company, valued at $11,472,187.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Peter Large sold 1,447 shares of the firm’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $59.10, for a total transaction of $85,517.70. Following the completion of the sale, the senior vice president now owns 8,220 shares in the company, valued at approximately $485,802. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,182 shares of company stock valued at $318,636. Corporate insiders own 0.47% of the company’s stock.

Trimble Trading Up 0.7 %

TRMB stock traded up $0.38 during trading on Friday, reaching $55.89. The company had a trading volume of 717,735 shares, compared to its average volume of 1,307,739. Trimble Inc. has a 52 week low of $39.57 and a 52 week high of $65.55. The company has a market cap of $13.65 billion, a P/E ratio of 58.22, a PEG ratio of 2.52 and a beta of 1.50. The business has a 50 day moving average of $56.33 and a 200 day moving average of $56.99. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.00 and a quick ratio of 0.88.

Trimble (NASDAQ:TRMB) last announced its earnings results on Friday, May 3rd. The scientific and technical instruments company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.04. Trimble had a net margin of 6.25% and a return on equity of 12.04%. The business had revenue of $953.30 million during the quarter, compared to the consensus estimate of $921.15 million. As a group, sell-side analysts forecast that Trimble Inc. will post 2.21 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on TRMB. JPMorgan Chase & Co. upped their price objective on shares of Trimble from $57.00 to $67.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Piper Sandler reaffirmed an “overweight” rating and set a $73.00 price objective on shares of Trimble in a research note on Monday, May 6th. Oppenheimer reaffirmed an “outperform” rating and set a $72.00 price objective on shares of Trimble in a research note on Monday, May 6th. Finally, Raymond James reaffirmed an “outperform” rating and set a $65.00 price objective on shares of Trimble in a research note on Wednesday, May 15th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $66.67.

About Trimble

Trimble Inc provides technology solutions that enable professionals and field mobile workers to enhance or transform their work processes worldwide. The company's Buildings and Infrastructure segment offers field and office software for project design and visualization; systems to guide and control construction equipment; software for 3D design and data sharing; systems to monitor, track, and manage assets, equipment, and workers; software to share and communicate data; program management solutions for construction owners; 3D conceptual design and modeling software; building information modeling software; enterprise resource planning, project management, and project collaboration solutions; integrated site layout and measurement systems; cost estimating, scheduling, and project controls solutions; and applications for sub-contractors and trades.