Bank of America Corp DE Has $68.10 Million Stake in Trimble Inc. (NASDAQ:TRMB)

Bank of America Corp DE lowered its position in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) by 19.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 963,759 shares of the scientific and technical instruments company's stock after selling 236,165 shares during the quarter. Bank of America Corp DE owned approximately 0.39% of Trimble worth $68,099,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in TRMB. Crowley Wealth Management Inc. acquired a new position in Trimble in the fourth quarter valued at approximately $28,000. Rialto Wealth Management LLC bought a new position in Trimble during the fourth quarter worth about $35,000. SBI Securities Co. Ltd. acquired a new position in shares of Trimble in the 4th quarter valued at approximately $36,000. Larson Financial Group LLC boosted its holdings in shares of Trimble by 164.8% in the fourth quarter. Larson Financial Group LLC now owns 678 shares of the scientific and technical instruments company's stock valued at $48,000 after buying an additional 422 shares during the period. Finally, Friedenthal Financial acquired a new stake in shares of Trimble in the 4th quarter valued at about $49,000. 93.21% of the stock is currently owned by institutional investors and hedge funds.

Trimble Stock Performance

Trimble stock traded up $0.65 during mid-day trading on Friday, hitting $71.89. 1,024,569 shares of the company's stock traded hands, compared to its average volume of 1,397,801. Trimble Inc. has a fifty-two week low of $48.65 and a fifty-two week high of $77.78. The stock has a market cap of $17.15 billion, a price-to-earnings ratio of 11.80, a P/E/G ratio of 3.09 and a beta of 1.67. The firm has a 50 day simple moving average of $64.10 and a two-hundred day simple moving average of $69.26. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.27 and a quick ratio of 1.07.

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

Wall Street Analysts Forecast Growth

Several brokerages recently commented on TRMB. StockNews.com cut shares of Trimble from a "buy" rating to a "hold" rating in a report on Thursday, May 8th. Piper Sandler restated an "overweight" rating and issued a $84.00 price objective on shares of Trimble in a 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 increased their price target on Trimble from $88.00 to $90.00 and gave the company an "outperform" rating in a research report on Thursday, February 20th. Finally, JPMorgan Chase & Co. boosted their price target on Trimble from $84.00 to $88.00 and gave the stock an "overweight" rating in a research report on Wednesday. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Trimble has a consensus rating of "Buy" and a consensus target price of $88.43.

Insider Activity

In other news, VP Christopher F. Keating sold 5,709 shares of the company's stock in a transaction that occurred 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 accessible through the SEC website. Also, Director James Calvin Dalton sold 2,141 shares of the stock in a transaction that occurred 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 sale, the director now owns 10,162 shares in the company, valued at $729,529.98. This represents a 17.40% decrease in their position. The disclosure for this sale can be found here. 0.54% of the stock is owned by company insiders.

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.