Generation Investment Management LLP Cuts Stock Holdings in Trimble Inc. $TRMB

Key Points

• Generation Investment Management LLP reduced its stake in Trimble Inc. by 19.2%, now holding approximately 7.57 million shares, which makes up about 3.0% of their portfolio.
• Other institutional investors have also adjusted their holdings, with Central Pacific Bank Trust Division raising its stake in Trimble by 174.9% during the first quarter.
• Trimble recently reported earnings of $0.71 EPS, surpassing analysts' expectations, with quarterly revenue reaching $875.70 million, marking a 0.6% increase compared to the previous year.

Generation Investment Management LLP trimmed its position in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) by 19.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,570,348 shares of the scientific and technical instruments company's stock after selling 1,798,211 shares during the period. Trimble comprises about 3.0% of Generation Investment Management LLP's portfolio, making the stock its 15th biggest position. Generation Investment Management LLP owned 3.17% of Trimble worth $496,993,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Central Pacific Bank Trust Division raised its stake in 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 valued at $37,000 after buying an additional 355 shares in the last quarter. Putney Financial Group LLC purchased a new stake in Trimble during the fourth quarter worth approximately $51,000. State of Wyoming acquired a new position in Trimble in the first quarter valued at approximately $58,000. Farther Finance Advisors LLC increased its stake 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 purchasing an additional 591 shares during the last quarter. Finally, Friedenthal Financial raised its holdings in Trimble by 64.7% during the first quarter. Friedenthal Financial now owns 1,153 shares of the scientific and technical instruments company's stock worth $76,000 after purchasing an additional 453 shares in the last quarter. 93.21% of the stock is owned by hedge funds and other institutional investors.

Trimble Price Performance

Shares of NASDAQ:TRMB opened at $80.82 on Tuesday. The company has a quick ratio of 0.81, a current ratio of 0.94 and a debt-to-equity ratio of 0.25. The company has a 50-day moving average price of $81.15 and a 200 day moving average price of $72.27. Trimble Inc. has a 52 week low of $52.91 and a 52 week high of $87.50. The company has a market cap of $19.23 billion, a P/E ratio of 69.67, a PEG ratio of 3.32 and a beta of 1.66.

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

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Piper Sandler reaffirmed an "overweight" rating and issued a $84.00 target price on shares of Trimble in a research report on Thursday, May 8th. JPMorgan Chase & Co. lifted their target price on Trimble from $95.00 to $96.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. Oppenheimer boosted their price objective on Trimble from $88.00 to $94.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Raymond James Financial reaffirmed an "outperform" rating and issued 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 shares of Trimble from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. One analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $90.50.

Insider Buying and Selling at Trimble

In related news, CEO Robert G. Painter sold 115,781 shares of Trimble stock in a transaction that occurred on Monday, August 11th. The stock was 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 directly owned 114,879 shares in the company, valued at $9,515,427.57. The trade was a 50.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Mark David Schwartz sold 1,404 shares of the company's 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 completion of the sale, the vice president owned 21,001 shares in the company, valued at $1,680,080. This represents a 6.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 222,383 shares of company stock valued at $18,529,318. 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.

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