Public Employees Retirement System of Ohio Has $8.09 Million Stock Position in Trimble Inc. (NASDAQ:TRMB)

Public Employees Retirement System of Ohio lifted its stake in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) by 26.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 114,446 shares of the scientific and technical instruments company's stock after acquiring an additional 23,976 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Trimble were worth $8,087,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Crowley Wealth Management Inc. purchased a new stake in Trimble in the fourth quarter valued at about $28,000. Rialto Wealth Management LLC purchased a new position in Trimble during the fourth quarter valued at $35,000. SBI Securities Co. Ltd. purchased a new position in shares of Trimble in the fourth quarter valued at approximately $36,000. Larson Financial Group LLC grew its holdings in shares of Trimble by 164.8% during the fourth quarter. Larson Financial Group LLC now owns 678 shares of the scientific and technical instruments company's stock worth $48,000 after buying an additional 422 shares in the last quarter. Finally, Mather Group LLC. raised its holdings in Trimble by 86.4% in the 4th quarter. Mather Group LLC. now owns 740 shares of the scientific and technical instruments company's stock valued at $52,000 after acquiring an additional 343 shares during the last quarter. 93.21% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Trimble news, Director Kaigham Gabriel sold 6,511 shares of the business's stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $71.69, for a total value of $466,773.59. Following the completion of the sale, the director now owns 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 at this hyperlink. Corporate insiders own 0.54% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Piper Sandler reissued an "overweight" rating and issued a $84.00 price target on shares of Trimble in a research note on Thursday, May 8th. Cfra raised Trimble from a "buy" rating to a "strong-buy" rating and set a $92.00 target price for the company in a research note on Thursday, February 20th. Oppenheimer lifted their price objective on shares of Trimble from $88.00 to $90.00 and gave the stock an "outperform" rating in a research report on Thursday, February 20th. JPMorgan Chase & Co. raised their price objective on shares of Trimble from $84.00 to $88.00 and gave the stock 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 report on Thursday, May 8th. One equities research 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. According to MarketBeat, Trimble has an average rating of "Buy" and an average price target of $88.43.

Trimble Stock Down 0.6%

Shares of TRMB stock traded down $0.41 during trading hours on Wednesday, hitting $71.51. 984,287 shares of the company were exchanged, compared to its average volume of 1,395,272. The business's 50-day simple moving average is $64.48 and its two-hundred day simple moving average is $69.65. Trimble Inc. has a one year low of $48.65 and a one year high of $77.78. The stock has a market capitalization of $17.06 billion, a price-to-earnings ratio of 11.74, a P/E/G ratio of 3.09 and a beta of 1.67. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.07 and a current ratio of 1.27.

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 for the quarter, topping analysts' consensus estimates of $0.60 by $0.01. The business had revenue of $840.60 million for the quarter, compared to analysts' expectations of $810.45 million. Trimble had a net margin of 40.84% and a return on equity of 10.56%. The company's revenue for the quarter was down 11.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.64 EPS. Sell-side analysts predict 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.