Bank Julius Baer & Co. Ltd Zurich Decreases Stock Holdings in Trimble Inc. (NASDAQ:TRMB)

Bank Julius Baer & Co. Ltd Zurich reduced its holdings in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) by 24.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,988 shares of the scientific and technical instruments company's stock after selling 8,513 shares during the period. Bank Julius Baer & Co. Ltd Zurich's holdings in Trimble were worth $1,706,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Trimble during the 4th quarter valued at approximately $190,391,000. Select Equity Group L.P. increased its position in shares of Trimble by 22.4% in the 4th quarter. Select Equity Group L.P. now owns 10,154,341 shares of the scientific and technical instruments company's stock valued at $717,506,000 after acquiring an additional 1,857,517 shares during the period. Assenagon Asset Management S.A. increased its position in shares of Trimble by 338.8% in the 1st quarter. Assenagon Asset Management S.A. now owns 815,909 shares of the scientific and technical instruments company's stock valued at $53,564,000 after acquiring an additional 629,960 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Trimble by 69.4% in the fourth quarter. JPMorgan Chase & Co. now owns 1,271,403 shares of the scientific and technical instruments company's stock valued at $89,837,000 after purchasing an additional 520,980 shares during the period. Finally, Schroder Investment Management Group increased its holdings in Trimble by 1,064.6% in the 4th quarter. Schroder Investment Management Group now owns 456,512 shares of the scientific and technical instruments company's stock worth $32,257,000 after buying an additional 417,313 shares during the period. 93.21% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, VP Jennifer Allison sold 3,156 shares of the company's stock in a transaction 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 transaction, the vice president directly owned 2,882 shares in the company, valued at approximately $230,560. This represents a 52.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Kaigham Gabriel sold 6,511 shares of Trimble stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $71.69, for a total value of $466,773.59. Following the completion of the sale, the director owned 17,939 shares of the company's stock, valued at $1,286,046.91. This trade represents a 26.63% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 20,047 shares of company stock worth $1,538,152. 0.54% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Oppenheimer increased their price objective on shares of Trimble from $81.00 to $88.00 and gave the stock an "outperform" rating in a research note on Thursday, July 17th. JPMorgan Chase & Co. raised their price objective on shares of Trimble from $88.00 to $95.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Wall Street Zen cut shares of Trimble from a "buy" rating to a "hold" rating in a research note on Thursday, May 8th. Finally, Piper Sandler restated an "overweight" rating and set a $84.00 price target on shares of Trimble in a research report on Thursday, May 8th. One equities research 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 company's stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $89.14.

Trimble Stock Performance

Trimble stock traded up $1.05 during trading hours on Friday, reaching $85.24. 1,873,724 shares of the stock were exchanged, compared to its average volume of 1,563,915. The stock has a market cap of $20.34 billion, a P/E ratio of 13.91, a P/E/G ratio of 3.59 and a beta of 1.67. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.72 and a current ratio of 0.84. Trimble Inc. has a 52-week low of $48.65 and a 52-week high of $85.30. The firm's 50 day moving average is $75.41 and its 200 day moving average is $70.80.

Trimble (NASDAQ:TRMB - Get Free Report) last posted its earnings results on Wednesday, May 7th. The scientific and technical instruments company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.01. Trimble had a net margin of 42.40% and a return on equity of 9.87%. The firm had revenue of $840.60 million during the quarter, compared to the consensus estimate of $810.45 million. During the same period last year, the firm posted $0.64 EPS. The firm's revenue for the quarter was down 11.8% on a year-over-year basis. Analysts predict that Trimble Inc. will post 2.37 EPS for the current fiscal year.

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.