American International Group Inc. (AIG) has announced that it has decreased its holdings in Trimble Inc. by 3.2% during the fourth quarter of the year. The announcement came following the release of AIG’s most recent filing with the Securities and Exchange Commission.
Trimble Inc., a scientific and technical instruments company, is primarily focused on providing positioning technology solutions across various segments such as Buildings and Infrastructure, Geospatial, Resources and Utilities, and Transportation.
The Buildings and Infrastructure segment caters to architects, engineers, contractors, owners and operators – a diverse clientele which allows Trimble to demonstrate its prowess across a range of real-world applications.
Although AIG had previously owned 68,973 shares of Trimble’s stock as reported in Q3 2020’s filing with SEC; after selling 2,219 shares during the fourth quarter of last year (which brought their latest share total for that period to 66,754), a mark value approximated at $3.375m was incurred as per their financial report’s closing records.
In other news regarding Trimble’s operations in the market space; Peter Large who serves as Senior Vice President at Trimble made an insider trade where he sold 950 shares of the firm’s stock; valued at $48,554.50 on March 8th this year. After completion of the transaction Mr. Large is said to have held onto only 154 shares which are estimated at a value close to $7,870.94 based on current trading prices available on record.
Overall while this financial shuffle can have some impact on those who hold an investment stake in Trimble or American International Group Inc., one important point is that transaction reporting under SEC rules can help maintain transparency for traders/investors looking for reliable information before making decisions about their own positions.
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Hedge Funds Show Confidence in Trimble Inc. with Increased Ownership Positions
Trimble Inc. has recently seen changes in its positions by several hedge funds, indicating confidence in the scientific and technical instruments company. Mutual of America Capital Management LLC acquired 186 shares in Trimble during the last quarter, bringing their total ownership to 34,298 shares with a value of $1.8 million. United Capital Financial Advisers LLC purchased an additional 186 shares as well, raising their position in Trimble to 69,939 with a market value of $5 million. Bank Julius Baer & Co. Ltd Zurich acquired 192 more shares, owning a total of 12,200 with a value of $617,000. Nomura Asset Management Co. Ltd added 200 shares to their holdings, increasing their position to 57,547 worth $3.1 million. Lastly, Utah Retirement Systems also raised its position by adding 200 shares and now owns a total of 44,656 valued at $2.4 million.
Trimble Inc.’s shares opened at $49.56 on Monday and is currently valued at $12.28 billion with a P/E ratio of 26.50 and PEG ratio of 2:28 and beta value of 1:57 as per the recent data available for reference date.TRMB’s twelve month low was recorded at $45.43 while the high was marked at $72.24; meanwhile the quick ratio stood at 1:24 while current ratio stood at 1:51 and
debt-to-equity ratio noted .42 as revealed in the report.Subsequently various equities analysts have commented on TRMB stocks ,with StockNews.com upgrading them from “hold” rating to “buy” rating on May-31.The company garnered average price target of $59 according to data from Bloomberg among research analysts where one issued sell rating,five assigned hold ratings abd three assigned buy ratings.
The recent increase in ownership by hedge funds has caused a boost in confidence for Trimble, indicating that the company is poised for growth. The company’s consistent earnings show that it can be a promising investment option for investors. Trimble’s expanding product line and focus on new technologies are proving to be positive developments, and its stock could remain an attractive option for investors seeking long-term value from their investments.
