Altrinsic Global Advisors LLC Has $12.46 Million Stock Position in Trimble Inc. $TRMB

Key Points

• Altrinsic Global Advisors LLC has reduced its holdings in Trimble Inc. by 3.8%, now owning 189,862 shares valued at approximately $12.46 million.
• Trimble reported earnings of $0.71 per share for the latest quarter, surpassing estimates, with revenue of $875.70 million.
• Several major hedge funds, including Vanguard Group and Select Equity Group, have increased their stakes in Trimble, reflecting strong institutional interest with over 93% of the company's stock owned by institutions.

Altrinsic Global Advisors LLC cut its stake in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) by 3.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 189,862 shares of the scientific and technical instruments company's stock after selling 7,588 shares during the period. Trimble makes up approximately 0.6% of Altrinsic Global Advisors LLC's investment portfolio, making the stock its 24th largest holding. Altrinsic Global Advisors LLC owned about 0.08% of Trimble worth $12,464,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of TRMB. Comerica Bank grew its holdings in Trimble by 2.0% during the first quarter. Comerica Bank now owns 40,124 shares of the scientific and technical instruments company's stock valued at $2,634,000 after purchasing an additional 774 shares during the period. Smartleaf Asset Management LLC boosted its position in shares of Trimble by 34.7% during the first quarter. Smartleaf Asset Management LLC now owns 2,555 shares of the scientific and technical instruments company's stock worth $167,000 after purchasing an additional 658 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Trimble by 27.0% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 3,934 shares of the scientific and technical instruments company's stock valued at $258,000 after buying an additional 836 shares during the period. Groupe la Francaise grew its holdings in shares of Trimble by 13.5% in the 1st quarter. Groupe la Francaise now owns 70,044 shares of the scientific and technical instruments company's stock valued at $4,762,000 after buying an additional 8,357 shares during the period. Finally, Sax Wealth Advisors LLC increased its position in shares of Trimble by 14.2% in the 1st quarter. Sax Wealth Advisors LLC now owns 6,078 shares of the scientific and technical instruments company's stock valued at $399,000 after buying an additional 756 shares in the last quarter. 93.21% of the stock is owned by institutional investors.

Insider Activity at Trimble

In other news, VP Jennifer Allison sold 3,156 shares of Trimble stock in a transaction that occurred 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 completion of the transaction, the vice president directly owned 2,882 shares in the company, valued at approximately $230,560. The trade was a 52.27% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Robert G. Painter sold 115,781 shares of the stock in a transaction on Monday, August 11th. The shares were sold at an average price of $82.83, for a total value of $9,590,140.23. Following the completion of the sale, the chief executive officer owned 114,879 shares in the company, valued at approximately $9,515,427.57. This trade represents a 50.20% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 222,383 shares of company stock worth $18,529,318. Insiders own 0.54% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on TRMB. Raymond James Financial reaffirmed an "outperform" rating and set a $93.00 price target (up previously from $85.00) on shares of Trimble in a research report on Thursday, August 7th. Wall Street Zen raised shares of Trimble from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Oppenheimer upped their price target on shares of Trimble from $88.00 to $94.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. Piper Sandler restated an "overweight" rating and set a $84.00 price objective on shares of Trimble in a report on Thursday, May 8th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Trimble from $95.00 to $96.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating and seven have given a Buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $90.50.

Trimble Stock Up 0.0%

Shares of NASDAQ TRMB traded up $0.03 during trading hours on Thursday, hitting $82.21. The company had a trading volume of 957,261 shares, compared to its average volume of 1,860,270. Trimble Inc. has a 1-year low of $52.91 and a 1-year high of $87.50. The company has a quick ratio of 0.81, a current ratio of 0.94 and a debt-to-equity ratio of 0.25. The firm's 50 day moving average is $80.81 and its 200-day moving average is $72.20. The stock has a market capitalization of $19.56 billion, a P/E ratio of 70.87, a price-to-earnings-growth ratio of 3.37 and a beta of 1.69.

Trimble (NASDAQ:TRMB - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The scientific and technical instruments company reported $0.71 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $875.70 million for the quarter, compared to analyst estimates of $835.81 million. During the same period in the prior year, the firm posted $0.62 earnings per share. The company's quarterly revenue was up .6% compared to the same quarter last year. On average, analysts expect that Trimble Inc. will post 2.37 earnings per share for the current fiscal year.

Trimble 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.