Trimble Inc. $TRMB Shares Sold by Banco Bilbao Vizcaya Argentaria S.A.

Key Points

• Banco Bilbao Vizcaya Argentaria S.A. reduced its stake in Trimble Inc. by 39.2%, selling 15,962 shares in the first quarter, leaving it with 24,798 shares worth approximately $1.61 million.
• Trimble reported $0.71 EPS for the last quarter, exceeding analyst expectations, and had a revenue of $875.70 million, a 0.6% increase year-over-year.
• Traders maintain a positive outlook, as multiple analysts upgraded their ratings on Trimble, with price targets reaching up to $96.00.

Banco Bilbao Vizcaya Argentaria S.A. decreased its stake in Trimble Inc. (NASDAQ:TRMB - Free Report) by 39.2% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 24,798 shares of the scientific and technical instruments company's stock after selling 15,962 shares during the quarter. Banco Bilbao Vizcaya Argentaria S.A.'s holdings in Trimble were worth $1,614,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. OneDigital Investment Advisors LLC increased its position in Trimble by 30.1% during the first quarter. OneDigital Investment Advisors LLC now owns 4,077 shares of the scientific and technical instruments company's stock valued at $268,000 after acquiring an additional 943 shares during the last quarter. DAVENPORT & Co LLC lifted its stake in Trimble by 6.0% in the first quarter. DAVENPORT & Co LLC now owns 7,956 shares of the scientific and technical instruments company's stock worth $522,000 after purchasing an additional 452 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of Trimble by 7.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 35,876 shares of the scientific and technical instruments company's stock valued at $2,355,000 after buying an additional 2,397 shares during the period. Allspring Global Investments Holdings LLC grew its stake in shares of Trimble by 10.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 42,719 shares of the scientific and technical instruments company's stock valued at $2,793,000 after buying an additional 4,185 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Trimble by 25.1% in the first quarter. GAMMA Investing LLC now owns 5,275 shares of the scientific and technical instruments company's stock worth $346,000 after buying an additional 1,059 shares during the period. 93.21% of the stock is currently owned by institutional investors.

Trimble Stock Up 1.0%

Shares of TRMB traded up $0.85 during trading hours on Wednesday, hitting $82.29. The company had a trading volume of 664,000 shares, compared to its average volume of 1,579,429. The company has a current ratio of 0.94, a quick ratio of 0.81 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $19.58 billion, a PE ratio of 70.89, a price-to-earnings-growth ratio of 3.34 and a beta of 1.69. Trimble Inc. has a one year low of $52.91 and a one year high of $87.50. The company's fifty day moving average price is $80.39 and its two-hundred day moving average price is $72.07.

Trimble (NASDAQ:TRMB - Get Free Report) last posted its earnings results on Wednesday, August 6th. The scientific and technical instruments company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.08. The company had revenue of $875.70 million for the quarter, compared to analyst estimates 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 in the previous year, the firm earned $0.62 earnings per share. As a group, equities analysts forecast that Trimble Inc. will post 2.37 earnings per share for the current fiscal year.

Insider Transactions at Trimble

In other Trimble news, VP Jennifer Allison sold 3,156 shares of Trimble stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $80.00, for a total value of $252,480.00. Following the transaction, the vice president directly owned 2,882 shares of the company's stock, valued at approximately $230,560. The trade was a 52.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Mark David Schwartz sold 1,476 shares of the stock in a transaction 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 sale, the vice president owned 22,405 shares of the company's stock, valued at approximately $1,747,590. This represents a 6.18% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 222,383 shares of company stock valued at $18,529,318 in the last 90 days. Insiders own 0.54% of the company's stock.

Wall Street Analysts Forecast Growth

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

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.