Focus Partners Wealth Has $19.40 Million Position in Trimble Inc. (NASDAQ:TRMB)

Focus Partners Wealth cut its holdings in shares of Trimble Inc. (NASDAQ:TRMB) by 1.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 272,279 shares of the scientific and technical instruments company’s stock after selling 3,495 shares during the quarter. Focus Partners Wealth’s holdings in Trimble were worth $19,395,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in TRMB. Vanguard Group Inc. grew its holdings in shares of Trimble by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 29,706,534 shares of the scientific and technical instruments company’s stock worth $2,099,064,000 after purchasing an additional 183,150 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Trimble by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 6,036,228 shares of the scientific and technical instruments company’s stock worth $425,427,000 after purchasing an additional 138,136 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Trimble by 4.1% during the 4th quarter. Victory Capital Management Inc. now owns 5,665,332 shares of the scientific and technical instruments company’s stock worth $400,312,000 after purchasing an additional 222,679 shares in the last quarter. Contour Asset Management LLC grew its holdings in shares of Trimble by 4.4% during the 4th quarter. Contour Asset Management LLC now owns 4,681,182 shares of the scientific and technical instruments company’s stock worth $330,772,000 after purchasing an additional 197,913 shares in the last quarter. Finally, Boston Partners grew its holdings in shares of Trimble by 217.3% during the 4th quarter. Boston Partners now owns 3,377,136 shares of the scientific and technical instruments company’s stock worth $239,802,000 after purchasing an additional 2,312,937 shares in the last quarter. 93.21% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, VP Christopher F. Keating sold 5,709 shares of the stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $72.00, for a total transaction of $411,048.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director James Calvin Dalton sold 2,141 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $71.79, for a total value of $153,702.39. Following the sale, the director now directly owns 10,162 shares in the company, valued at $729,529.98. This trade represents a 17.40% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.47% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on TRMB shares. Oppenheimer increased their target price on Trimble from $88.00 to $90.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. Piper Sandler reissued an “overweight” rating and set a $84.00 target price on shares of Trimble in a report on Thursday. Cfra raised Trimble from a “buy” rating to a “strong-buy” rating and set a $92.00 target price on the stock in a report on Thursday, February 20th. Finally, StockNews.com lowered Trimble from a “buy” rating to a “hold” rating in a report on Thursday. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $86.00.

Trimble Trading Up 1.1%

Shares of Trimble stock opened at $68.12 on Monday. The stock has a fifty day simple moving average of $63.87 and a 200 day simple moving average of $69.10. Trimble Inc. has a 12-month low of $48.65 and a 12-month high of $77.78. The company has a market capitalization of $16.25 billion, a P/E ratio of 11.19, a price-to-earnings-growth ratio of 3.09 and a beta of 1.67. The company has a current ratio of 1.27, a quick ratio of 1.07 and a debt-to-equity ratio of 0.24.

Trimble (NASDAQ:TRMB) last announced its quarterly earnings results on Wednesday, May 7th. The scientific and technical instruments company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.01. The business had revenue of $840.60 million during the quarter, compared to the consensus estimate of $810.45 million. Trimble had a return on equity of 10.56% and a net margin of 40.84%. Trimble’s revenue was down 11.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.64 earnings per share. On average, sell-side analysts anticipate that Trimble Inc. will post 2.37 earnings per share for the current fiscal 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.