Allspring Global Investments Holdings LLC Sells 671 Shares of Trimble Inc. (NASDAQ:TRMB)

Allspring Global Investments Holdings LLC decreased its holdings in Trimble Inc. (NASDAQ:TRMB) by 4.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,542 shares of the scientific and technical instruments company’s stock after selling 671 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Trimble were worth $774,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of TRMB. Morgan Stanley raised its stake in Trimble by 10.0% in the third quarter. Morgan Stanley now owns 7,654,744 shares of the scientific and technical instruments company’s stock valued at $412,285,000 after buying an additional 694,842 shares during the period. Wellington Management Group LLP increased its stake in shares of Trimble by 2,399.7% during the third quarter. Wellington Management Group LLP now owns 425,330 shares of the scientific and technical instruments company’s stock worth $22,908,000 after purchasing an additional 408,315 shares during the period. Invesco Ltd. increased its stake in shares of Trimble by 5.7% during the third quarter. Invesco Ltd. now owns 3,515,579 shares of the scientific and technical instruments company’s stock worth $189,349,000 after purchasing an additional 189,902 shares during the period. Barclays PLC increased its stake in shares of Trimble by 43.6% during the third quarter. Barclays PLC now owns 580,280 shares of the scientific and technical instruments company’s stock worth $31,254,000 after purchasing an additional 176,139 shares during the period. Finally, DekaBank Deutsche Girozentrale increased its stake in shares of Trimble by 139.7% during the third quarter. DekaBank Deutsche Girozentrale now owns 301,721 shares of the scientific and technical instruments company’s stock worth $15,767,000 after purchasing an additional 175,834 shares during the period. Institutional investors own 93.21% of the company’s stock.

Trimble Trading Down 0.3 %

Shares of NASDAQ:TRMB opened at $59.51 on Thursday. The business’s 50 day simple moving average is $61.71 and its 200 day simple moving average is $53.36. The company has a market capitalization of $14.53 billion, a P/E ratio of 47.61, a P/E/G ratio of 2.64 and a beta of 1.50. 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) last issued its earnings results on Monday, February 12th. The scientific and technical instruments company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.05. The firm had revenue of $932.40 million for 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%. The company’s revenue was up 8.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.52 EPS. On average, research analysts anticipate that Trimble Inc. will post 2.23 EPS for the current fiscal year.

Insider Buying and Selling at Trimble

In other Trimble news, CEO Robert G. Painter sold 2,500 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $54.75, for a total value of $136,875.00. Following the sale, the chief executive officer now owns 239,901 shares of the company’s stock, valued at approximately $13,134,579.75. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Robert G. Painter sold 2,500 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $54.75, for a total transaction of $136,875.00. Following the sale, the chief executive officer now owns 239,901 shares of the company’s stock, valued at approximately $13,134,579.75. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Jennifer Allison sold 5,000 shares of the firm’s stock in a transaction on Tuesday, February 20th. The shares were 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 approximately $137,927.70. The disclosure for this sale can be found here. In the last quarter, insiders have sold 16,828 shares of company stock valued at $1,013,519. 0.47% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on TRMB. Robert W. Baird increased their target price on Trimble from $59.00 to $65.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 13th. JPMorgan Chase & Co. increased their target price on Trimble from $48.00 to $56.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. Oppenheimer increased their price target on Trimble from $65.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, March 14th. Piper Sandler reissued an “overweight” rating and set a $73.00 price target on shares of Trimble in a research report on Monday, April 15th. Finally, StockNews.com downgraded Trimble from a “buy” rating to a “hold” rating in a research report on Saturday, February 10th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $64.83.

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.