Trimble Inc. (NASDAQ:TRMB) Shares Sold by Jupiter Asset Management Ltd.

Key Points

• Jupiter Asset Management Ltd. has reduced its stake in Trimble Inc. by 12.6%, selling 51,657 shares to decrease its holdings to 359,710 shares, valued at about $23.6 million.
• Other institutional investors, including LPL Financial and American Century Companies, have increased their stakes in Trimble, indicating growing interest in the company.
• Trimble recently reported earnings of $0.61 per share, slightly surpassing analyst expectations, but with a 11.8% decline in revenue year-over-year, totaling $840.6 million.

Jupiter Asset Management Ltd. trimmed its holdings in Trimble Inc. (NASDAQ:TRMB - Free Report) by 12.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 359,710 shares of the scientific and technical instruments company's stock after selling 51,657 shares during the quarter. Jupiter Asset Management Ltd. owned about 0.15% of Trimble worth $23,615,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Central Pacific Bank Trust Division boosted its holdings 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 acquired a new stake in shares of Trimble in the fourth quarter valued at approximately $51,000. Quarry LP boosted its holdings 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 boosted its holdings 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 boosted its holdings 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. 93.21% of the stock is owned by institutional investors and hedge funds.

Trimble Price Performance

NASDAQ:TRMB traded down $1.83 during trading hours on Tuesday, hitting $82.42. The company's stock had a trading volume of 220,613 shares, compared to its average volume of 1,544,570. The business's 50-day moving average is $76.99 and its two-hundred day moving average is $71.28. The company has a market capitalization of $19.66 billion, a PE ratio of 13.43, a PEG ratio of 3.52 and a beta of 1.69. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.72 and a current ratio of 0.84. Trimble Inc. has a 52-week low of $49.84 and a 52-week high of $86.42.

Trimble (NASDAQ:TRMB - Get Free Report) last released 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 the consensus estimate of $0.60 by $0.01. The firm had revenue of $840.60 million during the quarter, compared to analysts' expectations of $810.45 million. Trimble had a return on equity of 9.87% and a net margin of 42.40%. Trimble's revenue was down 11.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.64 earnings per share. As a group, research analysts anticipate that Trimble Inc. will post 2.37 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on TRMB shares. Wall Street Zen cut Trimble from a "buy" rating to a "hold" rating in a research note on Thursday, May 8th. Oppenheimer upped their price target on Trimble from $81.00 to $88.00 and gave the stock an "outperform" rating in a research note on Thursday, July 17th. Piper Sandler restated an "overweight" rating and set a $84.00 price target on shares of Trimble in a research note on Thursday, May 8th. Finally, JPMorgan Chase & Co. upped their price target on Trimble from $88.00 to $95.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Trimble has a consensus rating of "Buy" and an average price target of $89.14.

Insider Transactions at Trimble

In other news, CEO Robert G. Painter sold 7,500 shares of the firm's stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $78.86, for a total value of $591,450.00. Following the completion of the transaction, the chief executive officer owned 114,879 shares in the company, valued at $9,059,357.94. This trade represents a 6.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Mark David Schwartz sold 1,476 shares of the stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $78.00, for a total value of $115,128.00. Following the sale, the vice president directly owned 22,405 shares in the company, valued at approximately $1,747,590. The trade was a 6.18% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,047 shares of company stock worth $1,538,152. Corporate insiders own 0.54% of the company's stock.

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.