Gulf International Bank UK Ltd Has $909,000 Stake in Trimble Inc. $TRMB

Key Points

• Gulf International Bank UK Ltd reduced its position in Trimble Inc. by 28.5%, selling 5,526 shares in the first quarter, leaving them with 13,853 shares worth approximately $909,000.
• Several hedge funds have made substantial investments in Trimble recently, with S Bank Fund Management Ltd acquiring a new position valued at around $4.23 million, while AGF Management Ltd increased its holdings by 20.7%.
• Trimble's stock has received multiple upgrades from analysts, with an average target price of $90.50 and one analyst rating it as a "strong buy."

Gulf International Bank UK Ltd lessened its position in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) by 28.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,853 shares of the scientific and technical instruments company's stock after selling 5,526 shares during the quarter. Gulf International Bank UK Ltd's holdings in Trimble were worth $909,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. S Bank Fund Management Ltd bought a new position in shares of Trimble during the 1st quarter worth approximately $4,233,000. Resona Asset Management Co. Ltd. lifted its position in shares of Trimble by 6.5% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 78,835 shares of the scientific and technical instruments company's stock worth $5,174,000 after buying an additional 4,797 shares during the period. AGF Management Ltd. lifted its position in shares of Trimble by 20.7% during the 1st quarter. AGF Management Ltd. now owns 101,413 shares of the scientific and technical instruments company's stock worth $6,658,000 after buying an additional 17,423 shares during the period. Public Sector Pension Investment Board lifted its position in shares of Trimble by 8.5% during the 1st quarter. Public Sector Pension Investment Board now owns 38,300 shares of the scientific and technical instruments company's stock worth $2,514,000 after buying an additional 3,011 shares during the period. Finally, SouthState Corp bought a new position in shares of Trimble during the 1st quarter worth approximately $2,435,000. Institutional investors own 93.21% of the company's stock.

Trimble Trading Down 2.0%

Shares of TRMB stock traded down $1.68 on Tuesday, reaching $81.12. 2,139,505 shares of the stock were exchanged, compared to its average volume of 2,054,260. The stock has a market cap of $19.30 billion, a PE ratio of 69.93, a P/E/G ratio of 3.40 and a beta of 1.69. Trimble Inc. has a one year low of $52.91 and a one year high of $87.50. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.94 and a quick ratio of 0.81. The stock has a 50 day moving average price of $79.48 and a 200 day moving average price of $71.85.

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 company 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 quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.62 earnings per share. Equities research analysts forecast that Trimble Inc. will post 2.37 EPS for the current fiscal year.

Insider Buying and Selling

In related news, VP Mark David Schwartz sold 1,404 shares of Trimble stock in a transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kaigham Gabriel sold 6,511 shares of Trimble stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $71.69, for a total value of $466,773.59. Following the sale, the director directly owned 17,939 shares of the company's stock, valued at approximately $1,286,046.91. This trade represents a 26.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 228,894 shares of company stock valued at $18,996,091 in the last three months. 0.54% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

TRMB has been the subject of several analyst reports. Raymond James Financial restated an "outperform" rating and set a $93.00 target price (up previously from $85.00) on shares of Trimble in a research report on Thursday, August 7th. Piper Sandler reiterated an "overweight" rating and issued a $84.00 price objective on shares of Trimble in a research report on Thursday, May 8th. JPMorgan Chase & Co. lifted their price objective on Trimble from $95.00 to $96.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. Oppenheimer lifted their price objective on Trimble from $88.00 to $94.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Finally, Wall Street Zen upgraded Trimble from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. One analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $90.50.

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.