Mirae Asset Global Investments Co. Ltd. Decreases Stake in Trimble Inc. (NASDAQ:TRMB)

Mirae Asset Global Investments Co. Ltd. lowered its stake in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) by 2.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,421,122 shares of the scientific and technical instruments company's stock after selling 35,430 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned approximately 0.57% of Trimble worth $75,604,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in TRMB. Clear Street Markets LLC boosted its stake in shares of Trimble by 93.2% in the 1st quarter. Clear Street Markets LLC now owns 485 shares of the scientific and technical instruments company's stock valued at $25,000 after purchasing an additional 234 shares during the last quarter. IFP Advisors Inc boosted its stake in shares of Trimble by 798.1% in the 2nd quarter. IFP Advisors Inc now owns 467 shares of the scientific and technical instruments company's stock valued at $25,000 after purchasing an additional 415 shares during the last quarter. Itau Unibanco Holding S.A. bought a new position in shares of Trimble in the 2nd quarter valued at about $42,000. Operose Advisors LLC bought a new position in shares of Trimble in the 3rd quarter valued at about $43,000. Finally, Belpointe Asset Management LLC boosted its stake in shares of Trimble by 42.3% in the 1st quarter. Belpointe Asset Management LLC now owns 1,026 shares of the scientific and technical instruments company's stock valued at $54,000 after purchasing an additional 305 shares during the last quarter. Institutional investors own 93.21% of the company's stock.

Insiders Place Their Bets

In other news, CEO Robert G. Painter sold 2,500 shares of the business's stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $51.05, for a total transaction of $127,625.00. Following the sale, the chief executive officer now directly owns 203,856 shares in the company, valued at $10,406,848.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, VP Jennifer Allison sold 5,000 shares of the company's stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $59.58, for a total value of $297,900.00. Following the sale, the vice president now directly owns 2,315 shares in the company, valued at $137,927.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Robert G. Painter sold 2,500 shares of the company's stock in a transaction that occurred on Tuesday, January 9th. The shares were sold at an average price of $51.05, for a total value of $127,625.00. Following the completion of the sale, the chief executive officer now owns 203,856 shares in the company, valued at $10,406,848.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 14,146 shares of company stock valued at $822,509. 0.61% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on TRMB shares. JPMorgan Chase & Co. lifted their price objective on shares of Trimble from $48.00 to $56.00 and gave the company a "neutral" rating in a report on Friday, February 9th. Piper Sandler reissued an "overweight" rating and set a $73.00 target price on shares of Trimble in a report on Tuesday. Oppenheimer lifted their target price on Trimble from $65.00 to $72.00 and gave the stock an "outperform" rating in a report on Thursday, March 14th. Robert W. Baird lifted their target price on Trimble from $59.00 to $65.00 and gave the stock an "outperform" rating in a report on Tuesday, February 13th. Finally, StockNews.com downgraded Trimble from a "buy" rating to a "hold" rating in a report on Saturday, February 10th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $64.83.

Trimble Price Performance

TRMB stock traded down $0.04 during midday trading on Friday, reaching $61.45. The company had a trading volume of 2,794,042 shares, compared to its average volume of 1,307,498. The company has a market capitalization of $15.10 billion, a price-to-earnings ratio of 49.16, a price-to-earnings-growth ratio of 2.76 and a beta of 1.50. The stock has a 50 day moving average price of $59.92 and a 200-day moving average price of $52.62. Trimble Inc. has a 1-year low of $39.57 and a 1-year high of $65.55. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.00 and a quick ratio of 0.87.

Trimble (NASDAQ:TRMB - Get Free Report) last posted its quarterly earnings results on Monday, February 12th. The scientific and technical instruments company reported $0.63 EPS for the quarter, beating analysts' consensus estimates of $0.58 by $0.05. The business had revenue of $932.40 million during the quarter, compared to the consensus estimate of $908.43 million. Trimble had a return on equity of 12.59% and a net margin of 8.19%. Trimble's revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.52 earnings per share. Equities research analysts expect that Trimble Inc. will post 2.23 earnings per share 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.