Janus Henderson Group PLC Trims Stake in Trimble Inc. (NASDAQ:TRMB)

Janus Henderson Group PLC trimmed its position in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) by 42.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 34,919 shares of the scientific and technical instruments company's stock after selling 25,986 shares during the period. Janus Henderson Group PLC's holdings in Trimble were worth $2,468,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TRMB. Gotham Asset Management LLC boosted its stake in shares of Trimble by 4.7% during the fourth quarter. Gotham Asset Management LLC now owns 214,295 shares of the scientific and technical instruments company's stock valued at $15,142,000 after purchasing an additional 9,652 shares during the period. Fred Alger Management LLC boosted its position in Trimble by 317.4% in the 4th quarter. Fred Alger Management LLC now owns 24,717 shares of the scientific and technical instruments company's stock valued at $1,747,000 after buying an additional 18,796 shares during the period. Deutsche Bank AG grew its stake in Trimble by 12.0% in the 4th quarter. Deutsche Bank AG now owns 1,670,116 shares of the scientific and technical instruments company's stock worth $118,010,000 after acquiring an additional 179,103 shares in the last quarter. Contour Asset Management LLC increased its position in shares of Trimble by 4.4% during the fourth quarter. Contour Asset Management LLC now owns 4,681,182 shares of the scientific and technical instruments company's stock worth $330,772,000 after acquiring an additional 197,913 shares during the period. Finally, Crestline Management LP raised its stake in shares of Trimble by 643.6% during the fourth quarter. Crestline Management LP now owns 67,002 shares of the scientific and technical instruments company's stock valued at $4,734,000 after acquiring an additional 57,992 shares in the last quarter. 93.21% of the stock is owned by hedge funds and other institutional investors.

Trimble Stock Down 0.3%

TRMB traded down $0.24 on Monday, hitting $70.55. The company had a trading volume of 929,216 shares, compared to its average volume of 1,394,463. The stock has a market capitalization of $16.83 billion, a price-to-earnings ratio of 11.58, a P/E/G ratio of 3.09 and a beta of 1.67. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.07 and a current ratio of 1.27. The stock has a fifty day moving average price of $64.43 and a 200-day moving average price of $69.62. Trimble Inc. has a 12-month low of $48.65 and a 12-month high of $77.78.

Trimble (NASDAQ:TRMB - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The scientific and technical instruments company reported $0.61 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.60 by $0.01. The firm had revenue of $840.60 million for the quarter, compared to the consensus estimate of $810.45 million. Trimble had a net margin of 40.84% and a return on equity of 10.56%. The company's quarterly revenue was down 11.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.64 EPS. Analysts predict that Trimble Inc. will post 2.37 EPS for the current fiscal year.

Insider Transactions at Trimble

In other news, VP Christopher F. Keating sold 5,709 shares of the company's stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $72.00, for a total transaction of $411,048.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Kaigham Gabriel sold 6,511 shares of Trimble stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $71.69, for a total transaction of $466,773.59. Following the completion of the sale, the director now owns 17,939 shares of the company's stock, valued at $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 own 0.54% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on the company. Wall Street Zen downgraded Trimble from a "buy" rating to a "hold" rating in a report on Thursday, May 8th. JPMorgan Chase & Co. lifted their price objective on Trimble from $84.00 to $88.00 and gave the company an "overweight" rating in a report on Wednesday, May 14th. Cfra raised shares of Trimble from a "buy" rating to a "strong-buy" rating and set a $92.00 price objective for the company in a research note on Thursday, February 20th. Piper Sandler reissued an "overweight" rating and set a $84.00 target price on shares of Trimble in a research report on Thursday, May 8th. Finally, Oppenheimer upped their price target on shares of Trimble from $88.00 to $90.00 and gave the stock an "outperform" rating in a research report on Thursday, February 20th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $88.43.

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.