Mirae Asset Global Investments Co. Ltd. Reduces Holdings in Trimble Inc. (NASDAQ:TRMB)

Mirae Asset Global Investments Co. Ltd. reduced its position in Trimble Inc. (NASDAQ:TRMB - Free Report) by 47.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,990 shares of the scientific and technical instruments company's stock after selling 25,010 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Trimble were worth $1,834,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Crowley Wealth Management Inc. purchased a new position in Trimble in the 4th quarter worth about $28,000. Rialto Wealth Management LLC bought a new position in Trimble in the 4th quarter worth about $35,000. SBI Securities Co. Ltd. purchased a new position in shares of Trimble during the fourth quarter worth approximately $36,000. Central Pacific Bank Trust Division increased its position in shares of Trimble by 174.9% during 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 acquiring an additional 355 shares during the period. Finally, Larson Financial Group LLC raised its stake in shares of Trimble by 164.8% during the fourth quarter. Larson Financial Group LLC now owns 678 shares of the scientific and technical instruments company's stock valued at $48,000 after acquiring an additional 422 shares in the last quarter. Institutional investors own 93.21% of the company's stock.

Insider Activity at Trimble

In other Trimble news, Director Kaigham Gabriel sold 6,511 shares of the firm's stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $71.69, for a total value of $466,773.59. Following the completion of the sale, the director directly owned 17,939 shares in the company, valued at $1,286,046.91. This trade represents a 26.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.54% of the stock is currently owned by company insiders.

Trimble Stock Up 1.2%

NASDAQ TRMB traded up $0.96 during midday trading on Friday, hitting $78.82. 805,580 shares of the company traded hands, compared to its average volume of 1,391,158. Trimble Inc. has a 52 week low of $48.65 and a 52 week high of $78.99. The company's 50-day simple moving average is $70.63 and its 200-day simple moving average is $69.70. The company has a market cap of $18.81 billion, a PE ratio of 12.86, a price-to-earnings-growth ratio of 3.32 and a beta of 1.67. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.84 and a quick ratio of 0.72.

Trimble (NASDAQ:TRMB - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The scientific and technical instruments company reported $0.61 earnings per share for the quarter, beating analysts' consensus estimates of $0.60 by $0.01. The company had revenue of $840.60 million for the quarter, compared to the consensus estimate of $810.45 million. Trimble had a return on equity of 9.87% and a net margin of 42.40%. The firm's revenue for the quarter was down 11.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.64 earnings per share. As a group, equities research analysts forecast that Trimble Inc. will post 2.37 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have commented on the company. Piper Sandler restated an "overweight" rating and set a $84.00 price objective on shares of Trimble in a report on Thursday, May 8th. JPMorgan Chase & Co. increased their price target on Trimble from $84.00 to $88.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 14th. Finally, Wall Street Zen lowered Trimble from a "buy" rating to a "hold" rating in a research note on Thursday, May 8th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Trimble currently has a consensus rating of "Buy" and an average target price of $88.43.

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.