Trimble Inc. $TRMB Stake Reduced by Ameriprise Financial Inc.

Key Points

• Ameriprise Financial Inc. has reduced its stake in Trimble Inc. by 7.5%, selling 84,540 shares during the first quarter, and now holds approximately 0.44% of the company valued at $68.77 million.
• Several other hedge funds have increased their stakes in Trimble, with Central Pacific Bank Trust Division boosting its position by 174.9% during the same period.
• Trimble's last earnings report indicated an EPS of $0.71, outperforming estimates, with revenues reaching $875.7 million and showing a 0.6% year-over-year growth.

Ameriprise Financial Inc. lowered its position in Trimble Inc. (NASDAQ:TRMB - Free Report) by 7.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,047,676 shares of the scientific and technical instruments company's stock after selling 84,540 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.44% of Trimble worth $68,772,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TRMB. Brighton Jones LLC purchased a new stake in Trimble in the fourth quarter valued at approximately $211,000. NewEdge Advisors LLC lifted its stake in Trimble by 39.6% in the fourth quarter. NewEdge Advisors LLC now owns 6,904 shares of the scientific and technical instruments company's stock valued at $488,000 after buying an additional 1,957 shares during the last quarter. First Trust Advisors LP lifted its stake in Trimble by 39.8% in the fourth quarter. First Trust Advisors LP now owns 70,107 shares of the scientific and technical instruments company's stock valued at $4,954,000 after buying an additional 19,976 shares during the last quarter. MML Investors Services LLC purchased a new stake in Trimble in the fourth quarter valued at approximately $1,110,000. Finally, OneDigital Investment Advisors LLC purchased a new stake in Trimble in the fourth quarter valued at approximately $221,000. Hedge funds and other institutional investors own 93.21% of the company's stock.

Wall Street Analysts Forecast Growth

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

Trimble Price Performance

Shares of TRMB stock traded down $1.39 during mid-day trading on Friday, reaching $80.82. The stock had a trading volume of 1,210,105 shares, compared to its average volume of 1,806,406. Trimble Inc. has a 12-month low of $52.91 and a 12-month high of $87.50. The company has a market cap of $19.23 billion, a P/E ratio of 69.67, a price-to-earnings-growth ratio of 3.37 and a beta of 1.69. The business has a 50-day simple moving average of $80.99 and a 200 day simple moving average of $72.25. The company has a current ratio of 0.94, a quick ratio of 0.81 and a debt-to-equity ratio of 0.25.

Trimble (NASDAQ:TRMB - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The scientific and technical instruments company reported $0.71 EPS for the quarter, topping analysts' consensus estimates of $0.63 by $0.08. The firm had revenue of $875.70 million during the quarter, compared to analysts' expectations of $835.81 million. Trimble had a return on equity of 10.24% and a net margin of 8.02%.The firm's quarterly revenue was up .6% compared to the same quarter last year. During the same quarter last year, the business posted $0.62 EPS. On average, sell-side analysts anticipate that Trimble Inc. will post 2.37 earnings per share for the current year.

Insider Buying and Selling

In other news, VP Jennifer Allison sold 3,156 shares of the business's stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $80.00, for a total value of $252,480.00. Following the completion of the sale, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Mark David Schwartz sold 1,476 shares of the business's stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $78.00, for a total value of $115,128.00. Following the completion of the sale, the vice president owned 22,405 shares of the company's stock, valued at $1,747,590. This trade represents a 6.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 222,383 shares of company stock valued at $18,529,318. Corporate insiders own 0.54% of the company's stock.

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.