Hsbc Holdings PLC Purchases 193,784 Shares of Trimble Inc. $TRMB

Key Points

• Hsbc Holdings PLC has increased its stake in Trimble Inc. by 41.5%, owning 661,009 shares valued at approximately $43.33 million as of the latest SEC filing.
• Trimble's recent earnings report revealed earnings per share (EPS) of $0.71, exceeding analysts' expectations, along with a 0.6% year-over-year revenue increase to $875.7 million.
• Institutional investors collectively own 93.21% of Trimble's stock, with several hedge funds significantly increasing their holdings in recent quarters.

Hsbc Holdings PLC increased its holdings in Trimble Inc. (NASDAQ:TRMB - Free Report) by 41.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 661,009 shares of the scientific and technical instruments company's stock after purchasing an additional 193,784 shares during the quarter. Hsbc Holdings PLC owned 0.28% of Trimble worth $43,326,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Central Pacific Bank Trust Division increased its position in shares of 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 acquiring an additional 355 shares during the period. Putney Financial Group LLC purchased a new position in shares of Trimble in the fourth quarter valued at about $51,000. Quarry LP increased its position in shares of 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 period. Farther Finance Advisors LLC increased its position in shares of 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 period. Finally, Friedenthal Financial increased its position in shares of Trimble by 64.7% in the first quarter. Friedenthal Financial now owns 1,153 shares of the scientific and technical instruments company's stock valued at $76,000 after acquiring an additional 453 shares during the period. Hedge funds and other institutional investors own 93.21% of the company's stock.

Analyst Ratings Changes

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

Insider Buying and Selling

In related news, VP Mark David Schwartz sold 1,404 shares of the business's stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $80.00, for a total transaction of $112,320.00. Following the sale, the vice president 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Robert G. Painter sold 115,781 shares of the business's stock in a transaction dated 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 sale, 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 disclosure for this sale can be found here. Insiders have sold 222,383 shares of company stock valued at $18,529,318 over the last quarter. Corporate insiders own 0.54% of the company's stock.

Trimble Trading Up 2.9%

Shares of NASDAQ TRMB traded up $2.31 during midday trading on Friday, hitting $82.58. 880,334 shares of the company traded hands, compared to its average volume of 1,925,738. Trimble Inc. has a 12-month low of $52.91 and a 12-month high of $87.50. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.81 and a current ratio of 0.94. The stock has a 50-day moving average price of $80.02 and a 200 day moving average price of $71.96. The firm has a market cap of $19.65 billion, a P/E ratio of 71.19, a P/E/G ratio of 3.39 and a beta of 1.69.

Trimble (NASDAQ:TRMB - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $875.70 million for the quarter, compared to analyst estimates of $835.81 million. During the same quarter in the previous year, the firm posted $0.62 earnings per share. Trimble's quarterly revenue was up .6% on a year-over-year basis. As a group, analysts expect that Trimble Inc. will post 2.37 earnings per share for the current year.

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.