3,319 Shares in Trimble Inc. (NASDAQ:TRMB) Purchased by Phoenix Financial Ltd.

Key Points

• Phoenix Financial Ltd. acquired 3,319 shares of Trimble Inc., valued at approximately $219,000, during the first quarter, marking a new investment in the company.
• Trimble's stock has seen recent selling activity from insiders, including a VP and the CEO, who sold shares totaling over $843,000, indicating a decrease in their ownership stakes.
• The company reported earnings of $0.61 per share for the last quarter, slightly surpassing analysts' expectations, despite a year-over-year revenue decline of 11.8%.

Phoenix Financial Ltd. purchased a new position in Trimble Inc. (NASDAQ:TRMB - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 3,319 shares of the scientific and technical instruments company's stock, valued at approximately $219,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Caliber Wealth Management LLC KS purchased a new position in Trimble in the first quarter worth $223,000. Assetmark Inc. grew its holdings in Trimble by 13.5% in the first quarter. Assetmark Inc. now owns 6,838 shares of the scientific and technical instruments company's stock worth $449,000 after purchasing an additional 811 shares during the last quarter. Cetera Investment Advisers grew its holdings in Trimble by 9.8% in the first quarter. Cetera Investment Advisers now owns 15,694 shares of the scientific and technical instruments company's stock worth $1,030,000 after purchasing an additional 1,404 shares during the last quarter. Avantax Advisory Services Inc. purchased a new position in Trimble in the first quarter worth $283,000. Finally, Machina Capital S.A.S. purchased a new position in Trimble in the first quarter worth $627,000. 93.21% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on TRMB shares. JPMorgan Chase & Co. boosted their price objective on shares of Trimble from $88.00 to $95.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Piper Sandler reissued an "overweight" rating and set a $84.00 price objective on shares of Trimble in a report on Thursday, May 8th. Oppenheimer boosted their price objective on shares of Trimble from $81.00 to $88.00 and gave the company an "outperform" rating in a report on Thursday, July 17th. Finally, Wall Street Zen lowered shares of Trimble from a "buy" rating to a "hold" rating in a report on Thursday, May 8th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $89.14.

Insider Activity

In other Trimble news, CEO Robert G. Painter sold 7,500 shares of the company's 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 completion of the transaction, the chief executive officer owned 114,879 shares in the company, valued at approximately $9,059,357.94. This represents a 6.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Jennifer Allison sold 3,156 shares of the company's stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $80.00, for a total transaction of $252,480.00. Following the completion of the transaction, the vice president owned 2,882 shares of the company's stock, valued at approximately $230,560. This trade represents a 52.27% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 20,047 shares of company stock worth $1,538,152. 0.54% of the stock is currently owned by insiders.

Trimble Stock Performance

NASDAQ:TRMB traded up $0.81 during mid-day trading on Wednesday, hitting $85.50. The company's stock had a trading volume of 409,258 shares, compared to its average volume of 1,529,228. Trimble Inc. has a 1 year low of $48.65 and a 1 year high of $86.42. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.84 and a quick ratio of 0.72. The stock has a market cap of $20.40 billion, a price-to-earnings ratio of 13.95, a PEG ratio of 3.62 and a beta of 1.67. The business's fifty day moving average is $75.92 and its two-hundred day moving average is $70.97.

Trimble (NASDAQ:TRMB - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The scientific and technical instruments company reported $0.61 EPS for the quarter, beating the consensus estimate of $0.60 by $0.01. Trimble had a net margin of 42.40% and a return on equity of 9.87%. The company had revenue of $840.60 million for the quarter, compared to analyst estimates of $810.45 million. During the same period in the prior year, the company earned $0.64 earnings per share. The firm's revenue was down 11.8% on a year-over-year basis. Analysts anticipate that Trimble Inc. will post 2.37 EPS 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.