Trimble Inc. (NASDAQ:TRMB) Stake Lessened by Davidson Investment Advisors

Davidson Investment Advisors decreased its position in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) by 4.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 255,513 shares of the scientific and technical instruments company's stock after selling 11,597 shares during the period. Davidson Investment Advisors owned about 0.10% of Trimble worth $16,774,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in 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 worth $26,560,000 after purchasing an additional 17,785 shares during the last quarter. DAVENPORT & Co LLC increased its holdings in Trimble by 6.0% during the 1st 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 increased its stake in shares of Trimble by 7.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 35,876 shares of the scientific and technical instruments company's stock worth $2,355,000 after buying an additional 2,397 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Trimble by 32.4% in the fourth quarter. Wellington Management Group LLP now owns 22,360 shares of the scientific and technical instruments company's stock worth $1,580,000 after buying an additional 5,472 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake 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 last quarter. 93.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on TRMB shares. Wall Street Zen downgraded shares of Trimble from a "buy" rating to a "hold" rating in a research report on Thursday, May 8th. JPMorgan Chase & Co. boosted their price target on Trimble from $88.00 to $95.00 and gave the company an "overweight" rating in a report on Thursday. Finally, Piper Sandler reiterated an "overweight" rating and set a $84.00 target price on shares of Trimble in a research note 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 issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Trimble presently has an average rating of "Buy" and an average target price of $89.43.

Trimble Stock Performance

TRMB traded up $1.21 during trading on Thursday, reaching $80.83. 1,546,863 shares of the company were exchanged, compared to its average volume of 1,401,352. The stock has a market cap of $19.29 billion, a P/E ratio of 13.19, a PEG ratio of 3.38 and a beta of 1.67. The firm has a 50 day moving average of $72.01 and a 200 day moving average of $69.91. 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 52 week low of $48.65 and a 52 week high of $81.63.

Trimble (NASDAQ:TRMB - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The scientific and technical instruments company reported $0.61 EPS for the quarter, topping 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 business had revenue of $840.60 million during the quarter, compared to analyst estimates of $810.45 million. During the same quarter in the prior year, the firm earned $0.64 earnings per share. The company's quarterly revenue was down 11.8% on a year-over-year basis. On average, sell-side analysts forecast that Trimble Inc. will post 2.37 EPS for the current fiscal year.

Insider Buying and Selling

In other news, VP Mark David Schwartz sold 1,476 shares of the stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $78.00, for a total value of $115,128.00. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Kaigham Gabriel sold 6,511 shares of the 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 completion of the transaction, the director owned 17,939 shares of the company's stock, valued at $1,286,046.91. This represents a 26.63% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.54% of the company's stock.

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.