Trimble Inc. (NASDAQ:TRMB) Stake Increased by Citigroup Inc.

Citigroup Inc. grew its stake in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) by 54.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 296,753 shares of the scientific and technical instruments company's stock after purchasing an additional 104,201 shares during the quarter. Citigroup Inc. owned 0.12% of Trimble worth $19,482,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Central Pacific Bank Trust Division lifted its stake in shares of Trimble by 174.9% in the first quarter. Central Pacific Bank Trust Division now owns 558 shares of the scientific and technical instruments company's stock worth $37,000 after acquiring an additional 355 shares in the last quarter. Putney Financial Group LLC acquired a new position in shares of Trimble in the fourth quarter worth about $51,000. Quarry LP increased its holdings in Trimble by 121.8% in the fourth 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 increased its holdings in Trimble by 153.5% in the first quarter. Farther Finance Advisors LLC now owns 976 shares of the scientific and technical instruments company's stock valued at $64,000 after buying an additional 591 shares during the last quarter. Finally, Friedenthal Financial increased its holdings in 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 buying an additional 453 shares during the last quarter. Institutional investors and hedge funds own 93.21% of the company's stock.

Insider Transactions at Trimble

In other news, Director Kaigham Gabriel sold 6,511 shares of the stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $71.69, for a total transaction of $466,773.59. Following the completion of the sale, the director owned 17,939 shares in the company, valued at approximately $1,286,046.91. This represents a 26.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Mark David Schwartz sold 1,404 shares of the stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $80.00, for a total value of $112,320.00. Following the sale, the vice president owned 21,001 shares of the company's stock, valued at $1,680,080. This trade represents a 6.27% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 228,894 shares of company stock valued at $18,996,091. 0.54% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts recently weighed in on the company. JPMorgan Chase & Co. boosted their price objective on Trimble from $95.00 to $96.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. Piper Sandler reissued an "overweight" rating and issued a $84.00 price objective on shares of Trimble in a report on Thursday, May 8th. Oppenheimer upped their target price on Trimble from $88.00 to $94.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. Raymond James Financial reaffirmed an "outperform" rating and set a $93.00 target price (up from $85.00) on shares of Trimble in a report on Thursday, August 7th. Finally, Wall Street Zen raised Trimble from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $90.50.

Trimble Stock Performance

TRMB stock traded down $1.43 on Friday, reaching $82.24. The company's stock had a trading volume of 2,024,643 shares, compared to its average volume of 2,065,060. Trimble Inc. has a 52 week low of $52.91 and a 52 week high of $87.50. The company has a market capitalization of $19.57 billion, a P/E ratio of 70.90, a price-to-earnings-growth ratio of 3.43 and a beta of 1.69. The firm has a fifty day moving average of $79.11 and a two-hundred day moving average of $71.77. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.94 and a quick ratio of 0.81.

Trimble (NASDAQ:TRMB - Get Free Report) last released its earnings results on Wednesday, August 6th. The scientific and technical instruments company reported $0.71 earnings per share 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 the consensus estimate of $835.81 million. Trimble had a return on equity of 10.24% and a net margin of 8.02%. The firm's revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.62 earnings per share. As a group, analysts predict that Trimble Inc. will post 2.37 EPS for the current fiscal year.

About Trimble

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.