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

Mirae Asset Global Investments Co. Ltd. boosted its holdings in Trimble Inc. (NASDAQ:TRMB) by 12.4% in the second quarter, Holdings Channel.com reports. The institutional investor owned 1,387,820 shares of the scientific and technical instruments company’s stock after acquiring an additional 153,103 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Trimble were worth $73,465,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of TRMB. Prospector Partners LLC increased its position in shares of Trimble by 123.3% during the 2nd quarter. Prospector Partners LLC now owns 170,915 shares of the scientific and technical instruments company’s stock valued at $9,048,000 after purchasing an additional 94,390 shares during the last quarter. Trillium Asset Management LLC increased its position in shares of Trimble by 1.5% during the 2nd quarter. Trillium Asset Management LLC now owns 84,525 shares of the scientific and technical instruments company’s stock valued at $4,475,000 after purchasing an additional 1,256 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Trimble by 1.4% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,282,446 shares of the scientific and technical instruments company’s stock valued at $67,893,000 after purchasing an additional 17,540 shares during the last quarter. Veritable L.P. increased its position in shares of Trimble by 7.3% during the 2nd quarter. Veritable L.P. now owns 5,301 shares of the scientific and technical instruments company’s stock valued at $281,000 after purchasing an additional 361 shares during the last quarter. Finally, Spire Wealth Management increased its position in shares of Trimble by 2,747.6% during the 2nd quarter. Spire Wealth Management now owns 44,251 shares of the scientific and technical instruments company’s stock valued at $2,343,000 after purchasing an additional 42,697 shares during the last quarter. Hedge funds and other institutional investors own 90.20% of the company’s stock.

Trimble Stock Performance

TRMB stock opened at $43.33 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.26 and a debt-to-equity ratio of 0.69. The business’s fifty day simple moving average is $48.25 and its two-hundred day simple moving average is $50.38. Trimble Inc. has a twelve month low of $39.57 and a twelve month high of $62.01. The firm has a market cap of $10.78 billion, a price-to-earnings ratio of 32.34, a PEG ratio of 2.01 and a beta of 1.53.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. JPMorgan Chase & Co. reduced their price target on shares of Trimble from $56.00 to $48.00 and set a “neutral” rating for the company in a research report on Thursday, November 2nd. The Goldman Sachs Group cut their price objective on Trimble from $66.00 to $58.00 and set a “buy” rating for the company in a research note on Thursday, November 2nd. Raymond James upgraded Trimble from a “market perform” rating to an “outperform” rating and set a $65.00 price target for the company in a research note on Friday, September 29th. StockNews.com downgraded Trimble from a “buy” rating to a “hold” rating in a research note on Friday, November 10th. Finally, Piper Sandler lowered their target price on Trimble from $51.00 to $42.00 and set a “neutral” rating for the company in a research report on Wednesday, November 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $53.86.

Insider Activity

In other news, SVP Peter Large sold 1,020 shares of the firm’s stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $53.00, for a total transaction of $54,060.00. Following the transaction, the senior vice president now owns 2,076 shares in the company, valued at $110,028. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, SVP Peter Large sold 1,020 shares of the firm’s stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $53.00, for a total transaction of $54,060.00. Following the sale, the senior vice president now owns 2,076 shares of the company’s stock, valued at $110,028. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Robert G. Painter sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $50.34, for a total value of $125,850.00. Following the sale, the chief executive officer now directly owns 209,856 shares in the company, valued at approximately $10,564,151.04. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 17,704 shares of company stock worth $816,009. Company insiders own 0.61% of the company’s stock.

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 route selection and design; 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.