Mirae Asset Global Investments Co. Ltd. Has $1.83 Million Holdings in Trimble Inc. (NASDAQ:TRMB)

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

Several other hedge funds also recently bought and sold shares of TRMB. Robeco Institutional Asset Management B.V. lifted its position in shares of Trimble by 18.4% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 104,161 shares of the scientific and technical instruments company’s stock worth $6,838,000 after acquiring an additional 16,208 shares during the period. Chevy Chase Trust Holdings LLC lifted its position in shares of Trimble by 0.6% during the 1st quarter. Chevy Chase Trust Holdings LLC now owns 128,906 shares of the scientific and technical instruments company’s stock worth $8,463,000 after buying an additional 757 shares during the period. Asset Management One Co. Ltd. lifted its position in shares of Trimble by 11.3% during the 1st quarter. Asset Management One Co. Ltd. now owns 201,994 shares of the scientific and technical instruments company’s stock worth $13,261,000 after buying an additional 20,498 shares during the period. Oppenheimer & Co. Inc. increased its holdings in Trimble by 9.7% during the 1st quarter. Oppenheimer & Co. Inc. now owns 40,219 shares of the scientific and technical instruments company’s stock valued at $2,640,000 after purchasing an additional 3,559 shares in the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in Trimble during the 1st quarter valued at $465,000. 93.21% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Kaigham Gabriel sold 6,511 shares of Trimble 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 transaction, the director directly owned 17,939 shares in the company, valued at approximately $1,286,046.91. The trade was a 26.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.54% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on TRMB. Piper Sandler reissued an “overweight” rating and issued a $84.00 target price on shares of Trimble in a research note on Thursday, May 8th. JPMorgan Chase & Co. lifted their target price on Trimble from $84.00 to $88.00 and gave the stock an “overweight” rating in a report on Wednesday, May 14th. Finally, Wall Street Zen lowered Trimble from a “buy” rating to a “hold” rating in a report on Thursday, May 8th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $88.43.

Trimble Stock Performance

Shares of Trimble stock opened at $78.82 on Friday. The company has a current ratio of 0.84, a quick ratio of 0.72 and a debt-to-equity ratio of 0.26. The business has a 50-day moving average price of $70.63 and a two-hundred day moving average price of $69.70. Trimble Inc. has a 1-year low of $48.65 and a 1-year high of $78.99. The company has a market cap of $18.81 billion, a P/E ratio of 12.86, a PEG ratio of 3.32 and a beta of 1.67.

Trimble (NASDAQ:TRMB) last released its quarterly earnings data on Wednesday, May 7th. The scientific and technical instruments company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.01. Trimble had a net margin of 42.40% and a return on equity of 9.87%. The company had revenue of $840.60 million for the quarter, compared to analysts’ expectations of $810.45 million. During the same quarter in the prior year, the firm earned $0.64 EPS. The business’s revenue was down 11.8% on a year-over-year basis. As a group, analysts anticipate that Trimble Inc. will post 2.37 EPS for the current year.

Trimble 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.