Handelsbanken Fonder AB Decreases Holdings in Trimble Inc. (NASDAQ:TRMB)

Handelsbanken Fonder AB cut its holdings in shares of Trimble Inc. (NASDAQ:TRMB) by 30.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 51,631 shares of the scientific and technical instruments company’s stock after selling 22,834 shares during the quarter. Handelsbanken Fonder AB’s holdings in Trimble were worth $2,747,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Operose Advisors LLC bought a new position in shares of Trimble during the 3rd quarter worth $43,000. Criterion Capital Advisors LLC bought a new position in shares of Trimble during the 4th quarter worth $67,000. Orion Capital Management LLC bought a new position in shares of Trimble during the 3rd quarter worth $86,000. CVA Family Office LLC bought a new position in shares of Trimble during the 4th quarter worth $111,000. Finally, Tennessee Valley Asset Management Partners bought a new position in shares of Trimble during the 4th quarter worth $117,000. 93.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on TRMB. Robert W. Baird increased their price target on Trimble from $59.00 to $65.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 13th. Piper Sandler restated an “overweight” rating and issued a $73.00 target price on shares of Trimble in a research note on Monday, April 15th. StockNews.com downgraded Trimble from a “buy” rating to a “hold” rating in a research note on Saturday, February 10th. Oppenheimer raised their target price on Trimble from $65.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday, March 14th. Finally, JPMorgan Chase & Co. raised 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. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Trimble presently has an average rating of “Moderate Buy” and an average price target of $64.83.

Trimble Stock Performance

NASDAQ:TRMB opened at $60.15 on Friday. The business’s 50-day moving average price is $61.72 and its two-hundred day moving average price is $53.44. Trimble Inc. has a twelve month low of $39.57 and a twelve month high of $65.55. The stock has a market cap of $14.69 billion, a P/E ratio of 48.12, a PEG ratio of 2.65 and a beta of 1.50. The company has a quick ratio of 0.87, a current ratio of 1.00 and a debt-to-equity ratio of 0.56.

Trimble (NASDAQ:TRMB) last released its quarterly earnings results on Monday, February 12th. The scientific and technical instruments company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.05. Trimble had a return on equity of 12.59% and a net margin of 8.19%. The firm had revenue of $932.40 million for the quarter, compared to analysts’ expectations of $908.43 million. During the same quarter last year, the firm posted $0.52 EPS. The company’s revenue was up 8.9% compared to the same quarter last year. As a group, equities analysts predict that Trimble Inc. will post 2.23 EPS for the current fiscal year.

Insider Activity at Trimble

In related news, CEO Robert G. Painter sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $54.75, for a total transaction of $136,875.00. Following the transaction, the chief executive officer now directly owns 239,901 shares of the company’s stock, valued at approximately $13,134,579.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, VP Jennifer Allison sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $59.58, for a total transaction of $297,900.00. Following the transaction, the vice president now directly owns 2,315 shares of the company’s stock, valued at approximately $137,927.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Robert G. Painter sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $54.75, for a total value of $136,875.00. Following the transaction, the chief executive officer now directly owns 239,901 shares in the company, valued at $13,134,579.75. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,828 shares of company stock valued at $1,013,519. Corporate insiders own 0.47% of the company’s stock.

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.