Trimble Inc. (NASDAQ:TRMB) Shares Sold by Natixis Advisors LLC

Key Points

• Natixis Advisors LLC reduced its stake in Trimble Inc. by 13.0%, holding 36,177 shares valued at approximately $2.38 million after selling 5,407 shares in the 1st quarter.
• Analysts are optimistic about Trimble Inc., with multiple upgrades and an average target price of $90.50, where eight analysts rate the stock as "buy" or higher.
• Trimble's recent financial report showed a quarterly revenue of $875.7 million, exceeding expectations, and an earnings per share of $0.71, which beat the consensus estimate.

Natixis Advisors LLC trimmed its holdings in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) by 13.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 36,177 shares of the scientific and technical instruments company's stock after selling 5,407 shares during the period. Natixis Advisors LLC's holdings in Trimble were worth $2,375,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of TRMB. Select Equity Group L.P. increased its stake in shares of Trimble by 22.4% during the fourth quarter. Select Equity Group L.P. now owns 10,154,341 shares of the scientific and technical instruments company's stock valued at $717,506,000 after purchasing an additional 1,857,517 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Trimble by 2.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,532,255 shares of the scientific and technical instruments company's stock worth $390,909,000 after purchasing an additional 134,277 shares during the period. Contour Asset Management LLC boosted its position in shares of Trimble by 4.4% in 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 purchasing an additional 197,913 shares during the period. Lazard Asset Management LLC boosted its stake in Trimble by 0.9% in the 4th quarter. Lazard Asset Management LLC now owns 2,794,854 shares of the scientific and technical instruments company's stock worth $197,483,000 after purchasing an additional 26,223 shares during the period. Finally, Northern Trust Corp raised its holdings in shares of Trimble by 11.6% during the 4th quarter. Northern Trust Corp now owns 2,574,428 shares of the scientific and technical instruments company's stock worth $181,909,000 after acquiring an additional 268,453 shares in the last quarter. 93.21% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. lifted their price target on shares of Trimble from $95.00 to $96.00 and gave the company an "overweight" rating in a research note on Thursday. Piper Sandler restated an "overweight" rating and set a $84.00 target price on shares of Trimble in a research report on Thursday, May 8th. Wall Street Zen upgraded Trimble from a "hold" rating to a "buy" rating in a report on Saturday. Raymond James Financial reiterated an "outperform" rating and issued a $93.00 target price (up from $85.00) on shares of Trimble in a report on Thursday. Finally, Oppenheimer increased their price objective on shares of Trimble from $88.00 to $94.00 and gave the stock an "outperform" rating in a research report on Thursday. Eight analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $90.50.

Insider Activity at Trimble

In related news, CEO Robert G. Painter sold 7,500 shares of the stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $78.86, for a total value of $591,450.00. Following the sale, the chief executive officer directly owned 114,879 shares of the company's stock, valued at approximately $9,059,357.94. This represents a 6.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kaigham Gabriel sold 6,511 shares of the company's stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $71.69, for a total value of $466,773.59. Following the completion of the sale, the director owned 17,939 shares in the company, valued at $1,286,046.91. This represents a 26.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,047 shares of company stock valued at $1,538,152. 0.54% of the stock is currently owned by corporate insiders.

Trimble Stock Up 1.5%

Shares of NASDAQ:TRMB traded up $1.25 during trading on Friday, hitting $83.77. 2,390,747 shares of the company were exchanged, compared to its average volume of 1,972,172. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.94 and a quick ratio of 0.72. The stock has a market capitalization of $19.93 billion, a P/E ratio of 72.22, a PEG ratio of 3.57 and a beta of 1.69. The firm's 50 day moving average price is $77.93 and its 200-day moving average price is $71.50. Trimble Inc. has a 12-month low of $51.03 and a 12-month high of $87.50.

Trimble (NASDAQ:TRMB - Get Free Report) last released its quarterly earnings results 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 return on equity of 10.24% and a net margin of 8.02%. The business 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 business earned $0.62 earnings per share. The company's quarterly revenue was up .6% compared to the same quarter last year. On average, research analysts predict that Trimble Inc. will post 2.37 earnings per share for the current fiscal 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.