Bessemer Group Inc. Sells 38,774 Shares of Trimble Inc. (NASDAQ:TRMB)

Bessemer Group Inc. lowered its stake in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) by 54.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 32,197 shares of the scientific and technical instruments company's stock after selling 38,774 shares during the period. Bessemer Group Inc.'s holdings in Trimble were worth $2,114,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Trimble by 5.0% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 376,368 shares of the scientific and technical instruments company's stock valued at $26,560,000 after buying an additional 17,785 shares during the period. Wellington Management Group LLP boosted its stake in shares of Trimble by 32.4% during the 4th quarter. Wellington Management Group LLP now owns 22,360 shares of the scientific and technical instruments company's stock valued at $1,580,000 after buying an additional 5,472 shares during the period. Atria Investments Inc lifted its stake in shares of Trimble by 15.4% in the 4th quarter. Atria Investments Inc now owns 4,022 shares of the scientific and technical instruments company's stock valued at $284,000 after purchasing an additional 537 shares during the last quarter. HighTower Advisors LLC boosted its holdings in Trimble by 17.9% in the fourth quarter. HighTower Advisors LLC now owns 47,216 shares of the scientific and technical instruments company's stock worth $3,336,000 after purchasing an additional 7,152 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Trimble in the fourth quarter worth $13,213,000. Institutional investors and hedge funds own 93.21% of the company's stock.

Insiders Place Their Bets

In other news, Director Kaigham Gabriel sold 6,511 shares of the business's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $71.69, for a total transaction of $466,773.59. Following the transaction, the director now owns 17,939 shares in the company, valued at approximately $1,286,046.91. The trade was a 26.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.54% of the company's stock.

Trimble Stock Performance

Trimble stock traded up $0.62 on Friday, reaching $75.65. 2,107,702 shares of the stock were exchanged, compared to its average volume of 1,383,637. The stock has a market cap of $18.05 billion, a PE ratio of 12.34, a PEG ratio of 3.23 and a beta of 1.68. The company has a current ratio of 0.84, a quick ratio of 0.72 and a debt-to-equity ratio of 0.26. Trimble Inc. has a twelve month low of $48.65 and a twelve month high of $77.78. The firm has a fifty day moving average price of $69.15 and a two-hundred day moving average price of $69.58.

Trimble (NASDAQ:TRMB - Get Free Report) last released its earnings results on Wednesday, May 7th. The scientific and technical instruments company reported $0.61 earnings per share for the quarter, topping analysts' consensus estimates of $0.60 by $0.01. The firm had revenue of $840.60 million during the quarter, compared to analyst estimates of $810.45 million. Trimble had a net margin of 42.40% and a return on equity of 9.87%. The business's revenue was down 11.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.64 EPS. Sell-side analysts anticipate that Trimble Inc. will post 2.37 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on TRMB shares. Wall Street Zen cut shares of Trimble from a "buy" rating to a "hold" rating in a report on Thursday, May 8th. Piper Sandler reiterated an "overweight" rating and issued a $84.00 price objective on shares of Trimble in a report on Thursday, May 8th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Trimble from $84.00 to $88.00 and gave the stock an "overweight" rating in a report on Wednesday, May 14th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $88.43.

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.