Trimble Inc. $TRMB Shares Sold by Erste Asset Management GmbH

Key Points

• Erste Asset Management GmbH reduced its holdings in Trimble Inc. by 13.3%, selling 9,124 shares during the 1st quarter, leaving them with a total of 59,282 shares valued at approximately $3.88 million.
• Institutional investors own 93.21% of Trimble's stock, with multiple investors such as Horizon Investments LLC and Oregon Public Employees Retirement Fund increasing their stakes during the same period.
• Analyst ratings for Trimble Inc. are largely positive, with a majority issuing "Buy" ratings and price targets ranging from $84 to $96, suggesting a strong outlook for the stock.

Erste Asset Management GmbH lessened its holdings in Trimble Inc. (NASDAQ:TRMB - Free Report) by 13.3% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 59,282 shares of the scientific and technical instruments company's stock after selling 9,124 shares during the period. Erste Asset Management GmbH's holdings in Trimble were worth $3,884,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TRMB. Central Pacific Bank Trust Division boosted its position in Trimble by 174.9% in 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 buying an additional 355 shares during the period. Putney Financial Group LLC purchased a new position in Trimble in the 4th quarter valued at approximately $51,000. Quarry LP boosted its position in 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 period. Farther Finance Advisors LLC boosted its position in Trimble by 153.5% in the 1st 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 period. Finally, Friedenthal Financial boosted its position in Trimble by 64.7% in the 1st 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 period. Hedge funds and other institutional investors own 93.21% of the company's stock.

Trimble Stock Up 2.9%

NASDAQ:TRMB traded up $2.31 during midday trading on Friday, hitting $82.58. 880,334 shares of the company were exchanged, compared to its average volume of 1,925,738. The company has a fifty day simple moving average of $80.02 and a 200 day simple moving average of $71.96. Trimble Inc. has a fifty-two week low of $52.91 and a fifty-two week high of $87.50. The company has a current ratio of 0.94, a quick ratio of 0.81 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $19.65 billion, a PE ratio of 71.19, a price-to-earnings-growth ratio of 3.39 and a beta of 1.69.

Trimble (NASDAQ:TRMB - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The scientific and technical instruments company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.63 by $0.08. Trimble had a net margin of 8.02% and a return on equity of 10.24%. The firm had revenue of $875.70 million for the quarter, compared to analyst estimates of $835.81 million. During the same period last year, the business earned $0.62 EPS. Trimble's revenue for the quarter was up .6% compared to the same quarter last year. As a group, equities analysts anticipate that Trimble Inc. will post 2.37 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Piper Sandler reissued an "overweight" rating and issued a $84.00 price target on shares of Trimble in a research report on Thursday, May 8th. Wall Street Zen raised shares of Trimble from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Raymond James Financial reaffirmed an "outperform" rating and set a $93.00 price objective (up from $85.00) on shares of Trimble in a research report on Thursday, August 7th. Oppenheimer lifted their price objective on shares of Trimble from $88.00 to $94.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Trimble from $95.00 to $96.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $90.50.

Insider Buying and Selling at Trimble

In other Trimble news, VP Jennifer Allison sold 3,156 shares of Trimble stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $80.00, for a total value of $252,480.00. Following the transaction, the vice president directly owned 2,882 shares in the company, valued at approximately $230,560. The trade was 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 this hyperlink. Also, CEO Robert G. Painter sold 115,781 shares of Trimble stock in a transaction on Monday, August 11th. The shares were sold at an average price of $82.83, for a total transaction of $9,590,140.23. Following the completion of the transaction, the chief executive officer owned 114,879 shares in the company, valued at approximately $9,515,427.57. This represents a 50.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 222,383 shares of company stock worth $18,529,318. 0.54% of the stock is owned by company insiders.

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.