Bank of America Corp DE Decreases Position in Trimble Inc. (NASDAQ:TRMB)

Bank of America Corp DE cut its holdings in 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 and Exchange Commission (SEC). The firm 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 as of its most recent SEC filing.

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

Insider Transactions at Trimble

In other news, Director James Calvin Dalton sold 2,141 shares of the business's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $71.79, for a total transaction of $153,702.39. Following the completion of the transaction, the director now directly owns 10,162 shares of the company's stock, valued at approximately $729,529.98. The trade was a 17.40% 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 Christopher F. Keating sold 5,709 shares of the business's stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $72.00, for a total value of $411,048.00. The disclosure for this sale can be found here. Corporate insiders own 0.54% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports 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 note on Wednesday. Cfra raised shares of Trimble from a "buy" rating to a "strong-buy" rating and set a $92.00 price target on the stock in a research note on Thursday, February 20th. Oppenheimer lifted their price target on shares of 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 issued a $84.00 price target on shares of Trimble in a research note on Thursday, May 8th. Finally, StockNews.com lowered Trimble from a "buy" rating to a "hold" rating in a report on Thursday, May 8th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $88.43.

Trimble Trading Up 0.9%

NASDAQ:TRMB traded up $0.65 on Friday, reaching $71.89. 1,024,569 shares of the company's stock were exchanged, compared to its average volume of 1,396,734. The company has a quick ratio of 1.07, a current ratio of 1.27 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $17.15 billion, a price-to-earnings ratio of 11.80, a price-to-earnings-growth ratio of 3.09 and a beta of 1.67. The business has a fifty day moving average of $64.21 and a 200-day moving average of $69.45. Trimble Inc. has a 52-week low of $48.65 and a 52-week high of $77.78.

Trimble (NASDAQ:TRMB - Get Free Report) last issued 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. The company had revenue of $840.60 million for the quarter, compared to analyst estimates of $810.45 million. Trimble had a net margin of 40.84% and a return on equity of 10.56%. The business's revenue for the quarter was down 11.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.64 earnings per share. As a group, 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.