Mirae Asset Global Investments Co. Ltd. Raises Position in Trimble Inc. $TRMB

Key Points

• Mirae Asset Global Investments Co. Ltd. increased its position in Trimble Inc. by 19.1% during the second quarter, owning 33,335 shares worth approximately $2.53 million by the end of the quarter.
• Trimble reported earnings of $0.71 per share, exceeding analysts' expectations of $0.63, and achieved revenues of $875.7 million for the quarter.
• CEO Robert G. Painter sold 115,781 shares of Trimble at an average price of $82.83, representing a significant 50.2% decrease in his ownership position.

Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) by 19.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 33,335 shares of the scientific and technical instruments company's stock after purchasing an additional 5,345 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Trimble were worth $2,533,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in TRMB. Flaharty Asset Management LLC purchased a new stake in shares of Trimble during the 1st quarter valued at $45,000. Steph & Co. boosted its stake in Trimble by 592.0% in the 2nd quarter. Steph & Co. now owns 692 shares of the scientific and technical instruments company's stock worth $53,000 after purchasing an additional 592 shares in the last quarter. State of Wyoming acquired a new stake in Trimble in the 1st quarter worth approximately $58,000. Farther Finance Advisors LLC boosted 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 purchasing an additional 591 shares in the last quarter. Finally, Friedenthal Financial boosted its stake in Trimble by 64.7% in the 1st quarter. Friedenthal Financial now owns 1,153 shares of the scientific and technical instruments company's stock worth $76,000 after purchasing an additional 453 shares in the last quarter. Hedge funds and other institutional investors own 93.21% of the company's stock.

Trimble Trading Down 1.9%

Shares of Trimble stock opened at $79.30 on Wednesday. The firm has a 50-day simple moving average of $81.59 and a two-hundred day simple moving average of $74.12. The company has a market cap of $18.87 billion, a P/E ratio of 68.36, a price-to-earnings-growth ratio of 3.32 and a beta of 1.65. Trimble Inc. has a fifty-two week low of $52.91 and a fifty-two week high of $87.50. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.81 and a current ratio of 0.94.

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

Insider Activity

In other news, CEO Robert G. Painter sold 115,781 shares of the stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $82.83, for a total transaction of $9,590,140.23. Following the transaction, the chief executive officer owned 114,879 shares in the company, valued at $9,515,427.57. This trade represents a 50.20% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director James Calvin Dalton sold 609 shares of Trimble stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $82.41, for a total value of $50,187.69. Following the completion of the sale, the director owned 13,809 shares in the company, valued at approximately $1,137,999.69. The trade was a 4.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 221,381 shares of company stock worth $18,474,943. Insiders own 0.54% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on TRMB. Raymond James Financial reiterated an "outperform" rating and issued a $93.00 target price (up from $85.00) on shares of Trimble in a research note on Thursday, August 7th. Weiss Ratings reiterated a "hold (c)" rating on shares of Trimble in a research note on Saturday, September 27th. Oppenheimer boosted their price target on Trimble from $88.00 to $94.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Berenberg Bank set a $95.00 price target on Trimble and gave the company a "buy" rating in a research note on Friday. 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 analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $92.10.

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.

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