Prudential PLC Sells 4,270 Shares of Trimble Inc. (NASDAQ:TRMB)

Key Points

• Prudential PLC has reduced its holdings in Trimble Inc. by 5.2%, selling 4,270 shares and now owning a total of 77,162 shares valued at approximately $5.07 million.
• Analyst ratings for Trimble Inc. have been positive, with multiple firms upgrading their price targets, resulting in a consensus rating of "Buy" and an average target price of $90.50.
• In recent insider transactions, Director Kaigham Gabriel and VP Mark David Schwartz sold significant shares, contributing to a total of 228,894 shares sold by insiders over the last 90 days.

Prudential PLC decreased its holdings in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) by 5.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 77,162 shares of the scientific and technical instruments company's stock after selling 4,270 shares during the period. Prudential PLC's holdings in Trimble were worth $5,066,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Nuveen LLC purchased a new stake in Trimble in the 1st quarter worth $122,070,000. Select Equity Group L.P. boosted 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. Assenagon Asset Management S.A. boosted its stake in shares of Trimble by 338.8% during the first quarter. Assenagon Asset Management S.A. now owns 815,909 shares of the scientific and technical instruments company's stock valued at $53,564,000 after purchasing an additional 629,960 shares in the last quarter. Vanguard Group Inc. lifted its position in Trimble by 2.0% during the first quarter. Vanguard Group Inc. now owns 30,288,658 shares of the scientific and technical instruments company's stock valued at $1,988,450,000 after acquiring an additional 582,124 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. raised its holdings in shares of Trimble by 161.1% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 601,122 shares of the scientific and technical instruments company's stock worth $42,475,000 after buying an additional 370,900 shares during the last quarter. Hedge funds and other institutional investors own 93.21% of the company's stock.

Trimble Stock Performance

Shares of TRMB stock traded down $1.43 during trading hours on Friday, reaching $82.24. The stock had a trading volume of 2,024,643 shares, compared to its average volume of 2,065,060. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.94 and a quick ratio of 0.81. Trimble Inc. has a twelve month low of $52.91 and a twelve month high of $87.50. The firm has a 50-day simple moving average of $79.11 and a 200-day simple moving average of $71.77. The firm has a market capitalization of $19.57 billion, a PE ratio of 70.90, a price-to-earnings-growth ratio of 3.43 and a beta of 1.69.

Trimble (NASDAQ:TRMB - Get Free Report) last released its earnings results on Wednesday, August 6th. The scientific and technical instruments company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.63 by $0.08. The firm had revenue of $875.70 million for the quarter, compared to analysts' expectations of $835.81 million. Trimble had a net margin of 8.02% and a return on equity of 10.24%. Trimble's quarterly revenue was up .6% on a year-over-year basis. During the same quarter last year, the company earned $0.62 EPS. As a group, equities analysts forecast that Trimble Inc. will post 2.37 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on TRMB shares. Wall Street Zen raised shares of Trimble from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Raymond James Financial reaffirmed an "outperform" rating and set a $93.00 price objective (up previously from $85.00) on shares of Trimble in a research report on Thursday, August 7th. Oppenheimer raised their price target on shares of Trimble from $88.00 to $94.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. JPMorgan Chase & Co. raised their price objective on shares of Trimble from $95.00 to $96.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. Finally, Piper Sandler reiterated an "overweight" rating and set a $84.00 price target on shares of Trimble in a research note on Thursday, May 8th. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $90.50.

Insider Buying and Selling at Trimble

In other news, VP Jennifer Allison sold 3,156 shares of Trimble stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $80.00, for a total value of $252,480.00. Following the transaction, the vice president owned 2,882 shares of the company's stock, valued at $230,560. The trade was a 52.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Kaigham Gabriel sold 6,511 shares of the firm's stock in a transaction dated 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 transaction, the director owned 17,939 shares of the company's stock, valued at approximately $1,286,046.91. The trade was a 26.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 228,894 shares of company stock worth $18,996,091. 0.54% of the stock is currently owned by company insiders.

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.