Choreo LLC Sells 3,165 Shares of Trimble Inc. (NASDAQ:TRMB)

Key Points

• Choreo LLC reduced its ownership in Trimble Inc. by 27.2%, selling 3,165 shares and holding 8,462 shares valued at $556,000 after the sale.
• Major institutional investors, including Select Equity Group and Geode Capital Management, increased their stakes in Trimble during the fourth quarter, with institutional investors owning 93.21% of the company's stock.
• Wall Street analysts have issued various ratings for Trimble, with a consensus rating of "Buy" and an average price target of $89.14, as the stock recently opened at $85.24.

Choreo LLC cut its holdings in Trimble Inc. (NASDAQ:TRMB - Free Report) by 27.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,462 shares of the scientific and technical instruments company's stock after selling 3,165 shares during the period. Choreo LLC's holdings in Trimble were worth $556,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Central Pacific Bank Trust Division boosted its holdings in shares of Trimble by 174.9% during the 1st quarter. Central Pacific Bank Trust Division now owns 558 shares of the scientific and technical instruments company's stock valued at $37,000 after purchasing an additional 355 shares during the last quarter. Putney Financial Group LLC acquired a new stake in Trimble during the 4th quarter worth approximately $51,000. Quarry LP grew its position in shares of Trimble by 121.8% in the 4th quarter. Quarry LP now owns 732 shares of the scientific and technical instruments company's stock valued at $52,000 after buying an additional 402 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Trimble by 153.5% during the first quarter. Farther Finance Advisors LLC now owns 976 shares of the scientific and technical instruments company's stock worth $64,000 after buying an additional 591 shares during the period. Finally, Friedenthal Financial lifted its stake in shares of Trimble by 64.7% in the first quarter. Friedenthal Financial now owns 1,153 shares of the scientific and technical instruments company's stock valued at $76,000 after purchasing an additional 453 shares during the period. 93.21% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

TRMB has been the subject of several recent research reports. Wall Street Zen lowered shares of Trimble from a "buy" rating to a "hold" rating in a research report on Thursday, May 8th. Oppenheimer boosted their target price on Trimble from $81.00 to $88.00 and gave the stock an "outperform" rating in a research report on Thursday, July 17th. JPMorgan Chase & Co. upped their price objective on Trimble from $88.00 to $95.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Finally, Piper Sandler reiterated an "overweight" rating and issued a $84.00 target price on shares of Trimble in a research report on Thursday, May 8th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $89.14.

Insider Transactions at Trimble

In other news, CEO Robert G. Painter sold 7,500 shares of the stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $78.86, for a total transaction of $591,450.00. Following the completion of the sale, the chief executive officer owned 114,879 shares in the company, valued at approximately $9,059,357.94. This represents a 6.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Mark David Schwartz sold 1,404 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 $112,320.00. Following the completion of the sale, the vice president directly owned 21,001 shares of the company's stock, valued at $1,680,080. The trade was a 6.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,047 shares of company stock valued at $1,538,152 in the last 90 days. Corporate insiders own 0.54% of the company's stock.

Trimble Trading Down 0.3%

TRMB stock traded down $0.28 during midday trading on Thursday, reaching $84.91. 254,497 shares of the company traded hands, compared to its average volume of 1,535,040. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.72 and a current ratio of 0.84. The business has a 50 day moving average of $76.21 and a 200-day moving average of $71.07. Trimble Inc. has a 52-week low of $48.65 and a 52-week high of $86.42. The firm has a market capitalization of $20.26 billion, a price-to-earnings ratio of 13.84, a P/E/G ratio of 3.61 and a beta of 1.67.

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