Logan Capital Management Inc. Sells 6,982 Shares of Trimble Inc. (NASDAQ:TRMB)

Logan Capital Management Inc. cut its stake in Trimble Inc. (NASDAQ:TRMB) by 5.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 118,595 shares of the scientific and technical instruments company’s stock after selling 6,982 shares during the quarter. Logan Capital Management Inc.’s holdings in Trimble were worth $8,380,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Cullen Frost Bankers Inc. grew its position in shares of Trimble by 0.6% in the fourth quarter. Cullen Frost Bankers Inc. now owns 22,969 shares of the scientific and technical instruments company’s stock valued at $1,623,000 after purchasing an additional 141 shares in the last quarter. Essex Investment Management Co. LLC boosted its stake in Trimble by 0.5% during the fourth quarter. Essex Investment Management Co. LLC now owns 28,546 shares of the scientific and technical instruments company’s stock worth $2,017,000 after buying an additional 141 shares during the last quarter. SRS Capital Advisors Inc. grew its holdings in Trimble by 12.7% in the 4th quarter. SRS Capital Advisors Inc. now owns 1,322 shares of the scientific and technical instruments company’s stock valued at $93,000 after buying an additional 149 shares in the last quarter. M&T Bank Corp increased its stake in shares of Trimble by 1.6% in the 4th quarter. M&T Bank Corp now owns 10,155 shares of the scientific and technical instruments company’s stock worth $717,000 after acquiring an additional 156 shares during the last quarter. Finally, Huntington National Bank boosted its position in shares of Trimble by 10.4% during the 4th quarter. Huntington National Bank now owns 1,768 shares of the scientific and technical instruments company’s stock valued at $125,000 after acquiring an additional 167 shares during the last quarter. 93.21% of the stock is owned by institutional investors.

Trimble Price Performance

Shares of TRMB opened at $68.12 on Monday. The firm has a market capitalization of $16.25 billion, a price-to-earnings ratio of 11.19, a PEG ratio of 3.09 and a beta of 1.67. The firm’s fifty day simple moving average is $63.87 and its 200-day simple moving average is $69.10. Trimble Inc. has a twelve month low of $48.65 and a twelve month high of $77.78. 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 analysts’ consensus estimates of $0.60 by $0.01. Trimble had a return on equity of 10.56% and a net margin of 40.84%. The company had revenue of $840.60 million during the quarter, compared to the consensus estimate of $810.45 million. During the same period in the previous year, the business earned $0.64 EPS. Trimble’s revenue for the quarter was down 11.8% on a year-over-year basis. Equities analysts forecast that Trimble Inc. will post 2.37 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Oppenheimer upped their price target on Trimble from $88.00 to $90.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Piper Sandler reissued an “overweight” rating and set a $84.00 price target on shares of Trimble in a research report on Thursday. Cfra upgraded shares of Trimble from a “buy” rating to a “strong-buy” rating and set a $92.00 price objective for the company in a report on Thursday, February 20th. Finally, StockNews.com cut shares of Trimble from a “buy” rating to a “hold” rating in a research report on Thursday. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $86.00.

Insider Buying and Selling

In related news, VP Christopher F. Keating sold 5,709 shares of Trimble 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director James Calvin Dalton sold 2,141 shares of the company’s 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 owns 10,162 shares of the company’s stock, valued at $729,529.98. This represents a 17.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.47% of the company’s stock.

About Trimble

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.