Trimble Inc. $TRMB Shares Sold by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. reduced its stake in Trimble Inc. by 4.4%, owning 1,738,145 shares worth approximately $114.11 million at the end of the first quarter.
• Trimble reported $0.71 earnings per share for the latest quarter, exceeding the consensus estimate of $0.63, and generated revenues of $875.70 million.
• Multiple analysts have recently raised their price targets for Trimble, with estimates reaching as high as $96.00 from JPMorgan Chase & Co., reflecting a generally positive outlook on the stock.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. cut its stake in Trimble Inc. (NASDAQ:TRMB - Free Report) by 4.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,738,145 shares of the scientific and technical instruments company's stock after selling 80,333 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.73% of Trimble worth $114,105,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of TRMB. Central Pacific Bank Trust Division raised its holdings in shares of Trimble by 174.9% in the first quarter. Central Pacific Bank Trust Division now owns 558 shares of the scientific and technical instruments company's stock worth $37,000 after buying an additional 355 shares during the last quarter. Putney Financial Group LLC acquired a new position in shares of Trimble in the 4th quarter valued at $51,000. State of Wyoming purchased a new position in Trimble in the 1st quarter worth $58,000. Farther Finance Advisors LLC raised its stake in Trimble by 153.5% in the 1st quarter. Farther Finance Advisors LLC now owns 976 shares of the scientific and technical instruments company's stock worth $64,000 after acquiring an additional 591 shares during the last quarter. Finally, Friedenthal Financial lifted its position in Trimble by 64.7% during the 1st quarter. Friedenthal Financial now owns 1,153 shares of the scientific and technical instruments company's stock worth $76,000 after acquiring an additional 453 shares during the period. Hedge funds and other institutional investors own 93.21% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on TRMB shares. JPMorgan Chase & Co. increased their price objective on Trimble from $95.00 to $96.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. Oppenheimer upped their target price on Trimble from $88.00 to $94.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Raymond James Financial reissued an "outperform" rating and set a $93.00 price target (up from $85.00) on shares of Trimble in a research report on Thursday, August 7th. Finally, Wall Street Zen upgraded shares of Trimble from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. One investment analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the company. Based on data from MarketBeat, Trimble currently has an average rating of "Buy" and an average price target of $90.50.

Insider Activity

In other news, VP Mark David Schwartz sold 1,476 shares of the stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $78.00, for a total transaction of $115,128.00. Following the sale, the vice president directly owned 22,405 shares of the company's stock, valued at $1,747,590. This represents a 6.18% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Robert G. Painter sold 115,781 shares of the company's stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $82.83, for a total value of $9,590,140.23. Following the completion of the transaction, the chief executive officer directly owned 114,879 shares of the company's stock, valued at $9,515,427.57. The trade was a 50.20% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 222,992 shares of company stock worth $18,579,506. 0.54% of the stock is currently owned by insiders.

Trimble Stock Performance

Trimble stock traded down $1.23 during mid-day trading on Tuesday, hitting $80.06. The company had a trading volume of 1,086,582 shares, compared to its average volume of 1,569,826. The company has a market capitalization of $19.05 billion, a price-to-earnings ratio of 69.02, a P/E/G ratio of 3.31 and a beta of 1.66. Trimble Inc. has a 12-month low of $52.91 and a 12-month high of $87.50. The company's fifty day moving average is $81.64 and its 200-day moving average is $72.48. The company has a current ratio of 0.94, a quick ratio of 0.81 and a debt-to-equity ratio of 0.25.

Trimble (NASDAQ:TRMB - Get Free Report) last posted its earnings results on Wednesday, August 6th. The scientific and technical instruments company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.08. Trimble had a net margin of 8.02% and a return on equity of 10.24%. The firm had revenue of $875.70 million during the quarter, compared to analyst estimates of $835.81 million. During the same period in the previous year, the firm earned $0.62 EPS. The business's quarterly revenue was up .6% on a year-over-year basis. Equities research analysts predict that Trimble Inc. will post 2.37 EPS for the current year.

Trimble Company Profile

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.