HighTower Advisors LLC Sells 4,631 Shares of Trimble Inc. $TRMB

Key Points

• HighTower Advisors LLC reduced its stake in Trimble Inc. by 9.8%, owning 42,585 shares valued at approximately $2.8 million after selling 4,631 shares in the first quarter.
• Multiple institutional investors increased their holdings in Trimble, with OneDigital Investment Advisors LLC growing its stake by 30.1% and Allspring Global Investments Holdings LLC increasing theirs by 10.9%.
• Trimble reported earnings of $0.71 per share for the most recent quarter, surpassing analysts' expectations, and had a revenue of $875.7 million, indicating a year-over-year growth of 0.6%.

HighTower Advisors LLC lessened its holdings in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) by 9.8% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 42,585 shares of the scientific and technical instruments company's stock after selling 4,631 shares during the period. HighTower Advisors LLC's holdings in Trimble were worth $2,796,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Central Pacific Bank Trust Division grew its holdings in shares of Trimble by 174.9% during 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 purchasing an additional 355 shares during the last quarter. Putney Financial Group LLC bought a new position in Trimble in the fourth quarter valued at about $51,000. Quarry LP boosted 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 acquiring an additional 402 shares during the last quarter. Farther Finance Advisors LLC boosted 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 acquiring an additional 591 shares during the last quarter. Finally, Friedenthal Financial boosted 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 buying an additional 453 shares during the last quarter. Institutional investors own 93.21% of the company's stock.

Trimble Price Performance

Shares of NASDAQ:TRMB traded up $0.40 during trading on Thursday, reaching $82.58. 92,272 shares of the company traded hands, compared to its average volume of 1,573,953. The company's 50 day moving average is $80.60 and its two-hundred day moving average is $72.14. The firm has a market capitalization of $19.65 billion, a PE ratio of 71.15, a PEG ratio of 3.34 and a beta of 1.69. The company has a quick ratio of 0.81, a current ratio of 0.94 and a debt-to-equity ratio of 0.25. Trimble Inc. has a 52 week low of $52.91 and a 52 week high of $87.50.

Trimble (NASDAQ:TRMB - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The scientific and technical instruments company reported $0.71 earnings per share 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 company had revenue of $875.70 million during the quarter, compared to analysts' expectations of $835.81 million. During the same quarter in the prior year, the firm posted $0.62 earnings per share. The business's quarterly revenue was up .6% on a year-over-year basis. As a group, sell-side analysts predict that Trimble Inc. will post 2.37 earnings per share for the current year.

Insider Activity at Trimble

In related news, VP Mark David Schwartz sold 1,404 shares of the stock in a transaction that occurred 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 approximately $1,680,080. This trade represents a 6.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Jennifer Allison sold 3,156 shares of the stock in a transaction that occurred 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 sale, the vice president directly owned 2,882 shares of the company's stock, valued at $230,560. The trade was a 52.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 222,383 shares of company stock valued at $18,529,318. 0.54% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on TRMB shares. Oppenheimer raised their target price on Trimble from $88.00 to $94.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. JPMorgan Chase & Co. raised their target price on Trimble from $95.00 to $96.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. Wall Street Zen upgraded Trimble from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. 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 report on Thursday, August 7th. Finally, Piper Sandler restated an "overweight" rating and set a $84.00 target price on shares of Trimble in a report on Thursday, May 8th. One analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $90.50.

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.