Trimble Inc. $TRMB Holdings Lowered by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S cut its stake in Trimble Inc. (NASDAQ:TRMB) by 19.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,429 shares of the scientific and technical instruments company’s stock after selling 2,285 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Trimble were worth $619,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Central Pacific Bank Trust Division lifted its position in Trimble by 174.9% in the first quarter. Central Pacific Bank Trust Division now owns 558 shares of the scientific and technical instruments company’s stock worth $37,000 after purchasing an additional 355 shares during the period. Putney Financial Group LLC bought a new stake in shares of Trimble in the 4th quarter worth $51,000. Quarry LP lifted its holdings in shares of Trimble by 121.8% in the fourth quarter. Quarry LP now owns 732 shares of the scientific and technical instruments company’s stock valued at $52,000 after buying an additional 402 shares during the period. Farther Finance Advisors LLC boosted its stake in Trimble by 153.5% during the first quarter. Farther Finance Advisors LLC now owns 976 shares of the scientific and technical instruments company’s stock valued at $64,000 after buying an additional 591 shares in the last quarter. Finally, Friedenthal Financial grew its holdings in Trimble by 64.7% during the first quarter. Friedenthal Financial now owns 1,153 shares of the scientific and technical instruments company’s stock worth $76,000 after acquiring an additional 453 shares during the period. Institutional investors and hedge funds own 93.21% of the company’s stock.

Insider Transactions at Trimble

In other news, VP Jennifer Allison sold 3,156 shares of Trimble stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $80.00, for a total transaction of $252,480.00. Following the transaction, the vice president owned 2,882 shares in the company, valued at approximately $230,560. The trade was a 52.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Mark David Schwartz sold 1,404 shares of the stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $80.00, for a total value of $112,320.00. Following the completion of the sale, the vice president directly owned 21,001 shares of the company’s stock, valued at approximately $1,680,080. This represents a 6.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 222,383 shares of company stock valued at $18,529,318 over the last quarter. Company insiders own 0.54% of the company’s stock.

Analysts Set New Price Targets

TRMB has been the subject of a number of research analyst reports. Piper Sandler reissued an “overweight” rating and issued a $84.00 price target on shares of Trimble in a report on Thursday, May 8th. JPMorgan Chase & Co. boosted their target price on shares of Trimble from $95.00 to $96.00 and gave the stock an “overweight” rating in a report on Thursday, August 7th. Raymond James Financial restated an “outperform” rating and set a $93.00 target price (up from $85.00) on shares of Trimble in a report on Thursday, August 7th. Oppenheimer lifted their price target on shares of Trimble from $88.00 to $94.00 and gave the stock an “outperform” rating in a research report on Thursday, August 7th. Finally, Wall Street Zen upgraded Trimble from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. One analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the stock. According to data from MarketBeat.com, Trimble has a consensus rating of “Buy” and an average price target of $90.50.

Trimble Stock Performance

Shares of TRMB opened at $82.58 on Friday. The company has a 50-day moving average of $80.02 and a two-hundred day moving average of $71.98. The stock has a market cap of $19.65 billion, a price-to-earnings ratio of 71.19, a PEG ratio of 3.39 and a beta of 1.69. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.94 and a quick ratio of 0.81. Trimble Inc. has a one year low of $52.91 and a one year high of $87.50.

Trimble (NASDAQ:TRMB) last issued its quarterly earnings results on Wednesday, August 6th. The scientific and technical instruments company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.63 by $0.08. Trimble had a net margin of 8.02% and a return on equity of 10.24%. The business had revenue of $875.70 million during the quarter, compared to the consensus estimate of $835.81 million. During the same quarter in the prior year, the firm earned $0.62 EPS. The firm’s quarterly revenue was up .6% on a year-over-year basis. On average, equities research analysts expect that Trimble Inc. will post 2.37 earnings per share for the current year.

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.