Rathbones Group PLC Has $3.83 Million Stock Holdings in Trimble Inc. (NASDAQ:TRMB)

Key Points

• Rathbones Group PLC reduced its stake in Trimble Inc. by 11.5%, bringing its holdings down to 58,349 shares worth approximately $3.83 million after selling 7,586 shares in Q1.
• Other institutional investors, such as Vanguard Group and Select Equity Group, have increased their positions in Trimble, indicating ongoing interest in the company's shares.
• Trimble's stock recently reached a 52-week high of $87.50 and analysts project a positive outlook with multiple upgrades, suggesting a consensus rating of "Buy" and a price target of $90.50.

Rathbones Group PLC lessened its stake in Trimble Inc. (NASDAQ:TRMB - Free Report) by 11.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 58,349 shares of the scientific and technical instruments company's stock after selling 7,586 shares during the period. Rathbones Group PLC's holdings in Trimble were worth $3,831,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Central Pacific Bank Trust Division lifted its stake in shares of Trimble by 174.9% in the first quarter. Central Pacific Bank Trust Division now owns 558 shares of the scientific and technical instruments company's stock valued at $37,000 after buying an additional 355 shares during the period. Putney Financial Group LLC bought a new position in shares of Trimble in the 4th quarter valued at about $51,000. Quarry LP boosted its stake in shares of Trimble by 121.8% in the 4th quarter. Quarry LP now owns 732 shares of the scientific and technical instruments company's stock valued at $52,000 after purchasing an additional 402 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in Trimble by 153.5% during the 1st quarter. Farther Finance Advisors LLC now owns 976 shares of the scientific and technical instruments company's stock worth $64,000 after acquiring an additional 591 shares during the period. Finally, Friedenthal Financial grew its holdings in Trimble by 64.7% during the 1st quarter. Friedenthal Financial now owns 1,153 shares of the scientific and technical instruments company's stock worth $76,000 after acquiring an additional 453 shares during the period. Institutional investors own 93.21% of the company's stock.

Trimble Trading Down 1.7%

Shares of NASDAQ TRMB traded down $1.43 during midday trading on Friday, reaching $82.24. 2,024,643 shares of the stock were exchanged, compared to its average volume of 1,581,870. The company has a market capitalization of $19.57 billion, a price-to-earnings ratio of 70.90, a P/E/G ratio of 3.47 and a beta of 1.69. Trimble Inc. has a 12 month low of $52.91 and a 12 month high of $87.50. The business has a 50-day simple moving average of $78.91 and a two-hundred day simple moving average of $71.73. 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 (NASDAQ:TRMB - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The scientific and technical instruments company reported $0.71 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $875.70 million for the quarter, compared to the consensus estimate of $835.81 million. During the same quarter last year, the business posted $0.62 EPS. The company's revenue for the quarter was up .6% on a year-over-year basis. As a group, equities research analysts expect that Trimble Inc. will post 2.37 EPS for the current year.

Insider Buying and Selling at Trimble

In other Trimble news, VP Jennifer Allison sold 3,156 shares of the business's stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $80.00, for a total transaction of $252,480.00. Following the sale, the vice president directly 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 filing with the SEC, which is available through this link. Also, VP Mark David Schwartz sold 1,404 shares of the business'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 $112,320.00. Following the sale, the vice president directly owned 21,001 shares in the company, valued at $1,680,080. This trade represents a 6.27% 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 valued at $18,996,091. Corporate insiders own 0.54% of the company's stock.

Analyst Ratings Changes

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

Trimble 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.