New York State Teachers Retirement System raised its holdings in Trimble Inc. (NASDAQ:TRMB - Free Report) by 4.5% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 198,955 shares of the scientific and technical instruments company's stock after acquiring an additional 8,553 shares during the period. New York State Teachers Retirement System owned approximately 0.08% of Trimble worth $13,061,000 at the end of the most recent reporting period.
A number of other large investors have also recently modified their holdings of the business. Crowley Wealth Management Inc. purchased a new stake in Trimble in the fourth quarter valued at approximately $28,000. Rialto Wealth Management LLC bought a new position in shares of Trimble in the 4th quarter worth $35,000. SBI Securities Co. Ltd. purchased a new stake in shares of Trimble during the 4th quarter valued at $36,000. Central Pacific Bank Trust Division lifted its holdings in shares of Trimble by 174.9% during the 1st quarter. Central Pacific Bank Trust Division now owns 558 shares of the scientific and technical instruments company's stock worth $37,000 after acquiring an additional 355 shares during the last quarter. Finally, Larson Financial Group LLC grew its position in Trimble by 164.8% in the fourth quarter. Larson Financial Group LLC now owns 678 shares of the scientific and technical instruments company's stock worth $48,000 after acquiring an additional 422 shares in the last quarter. Institutional investors own 93.21% of the company's stock.
Insider Buying and Selling at Trimble
In related news, Director Kaigham Gabriel sold 6,511 shares of Trimble 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 transaction, the director directly owned 17,939 shares of the company's stock, valued at $1,286,046.91. The trade was a 26.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.54% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research firms have weighed in on TRMB. Piper Sandler restated an "overweight" rating and set a $84.00 price target on shares of Trimble in a research report on Thursday, May 8th. JPMorgan Chase & Co. raised 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. Finally, Wall Street Zen downgraded Trimble from a "buy" rating to a "hold" rating in a research report on Thursday, May 8th. One 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 company. According to MarketBeat, the company has a consensus rating of "Buy" and an average target price of $88.43.
Read Our Latest Stock Report on Trimble
Trimble Trading Up 1.2%
NASDAQ TRMB traded up $0.96 during trading on Friday, hitting $78.82. 805,580 shares of the company's stock traded hands, compared to its average volume of 1,391,158. The stock has a fifty day moving average of $70.63 and a two-hundred day moving average of $69.70. Trimble Inc. has a 12-month low of $48.65 and a 12-month high of $78.99. The firm has a market cap of $18.81 billion, a P/E ratio of 12.86, a PEG ratio of 3.32 and a beta of 1.67. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.84 and a quick ratio of 0.72.
Trimble (NASDAQ:TRMB - Get Free Report) last issued its earnings results on Wednesday, May 7th. The scientific and technical instruments company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.01. The company 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 quarterly revenue was down 11.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.64 EPS. As a group, sell-side analysts expect that Trimble Inc. will post 2.37 EPS for the current year.
Trimble Company Profile
(
Free Report)
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.
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