D. E. Shaw & Co. Inc. Decreases Stock Holdings in Trimble Inc. (NASDAQ:TRMB)

D. E. Shaw & Co. Inc. trimmed its holdings in Trimble Inc. (NASDAQ:TRMB) by 81.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 100,640 shares of the scientific and technical instruments company’s stock after selling 448,653 shares during the quarter. D. E. Shaw & Co. Inc.’s holdings in Trimble were worth $7,111,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Deutsche Bank AG raised its position in shares of Trimble by 12.0% during the 4th quarter. Deutsche Bank AG now owns 1,670,116 shares of the scientific and technical instruments company’s stock valued at $118,010,000 after buying an additional 179,103 shares during the period. Contour Asset Management LLC raised its position 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 valued at $330,772,000 after buying an additional 197,913 shares during the period. Crestline Management LP raised its position in shares of Trimble by 643.6% during the 4th quarter. Crestline Management LP now owns 67,002 shares of the scientific and technical instruments company’s stock valued at $4,734,000 after buying an additional 57,992 shares during the period. Cetera Investment Advisers raised its position in shares of Trimble by 8.5% during the 4th quarter. Cetera Investment Advisers now owns 14,290 shares of the scientific and technical instruments company’s stock valued at $1,010,000 after buying an additional 1,119 shares during the period. Finally, Bridgefront Capital LLC purchased a new stake in shares of Trimble during the 4th quarter valued at approximately $1,114,000. 93.21% of the stock is owned by hedge funds and other institutional investors.

Trimble Stock Down 0.0%

Trimble stock opened at $71.24 on Friday. Trimble Inc. has a twelve month low of $48.65 and a twelve month high of $77.78. The stock’s fifty day simple moving average is $64.10 and its 200-day simple moving average is $69.26. The company has a current ratio of 1.27, a quick ratio of 1.07 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $17.00 billion, a P/E ratio of 11.70, a P/E/G ratio of 3.09 and a beta of 1.67.

Trimble (NASDAQ:TRMB) last posted its quarterly earnings data on Wednesday, May 7th. The scientific and technical instruments company reported $0.61 earnings per share 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 business had revenue of $840.60 million for the quarter, compared to analyst estimates of $810.45 million. During the same quarter in the prior year, the company earned $0.64 earnings per share. The company’s revenue was down 11.8% on a year-over-year basis. As a group, equities analysts expect that Trimble Inc. will post 2.37 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently commented on TRMB. JPMorgan Chase & Co. lifted their price target on shares of Trimble from $84.00 to $88.00 and gave the company an “overweight” rating in a research report on Wednesday. Piper Sandler reissued an “overweight” rating and issued a $84.00 target price on shares of Trimble in a research report on Thursday, May 8th. Cfra raised Trimble from a “buy” rating to a “strong-buy” rating and set a $92.00 target price on the stock in a research report on Thursday, February 20th. Oppenheimer boosted their target price on Trimble from $88.00 to $90.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. Finally, StockNews.com lowered Trimble from a “buy” rating to a “hold” rating in a research report on Thursday, May 8th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $88.43.

Insider Transactions at Trimble

In related news, VP Christopher F. Keating sold 5,709 shares of the business’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $72.00, for a total transaction of $411,048.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James Calvin Dalton sold 2,141 shares of the business’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $71.79, for a total transaction of $153,702.39. Following the transaction, the director now owns 10,162 shares of the company’s stock, valued at approximately $729,529.98. The trade was a 17.40% decrease in their position. 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.