Russell Investments Group Ltd. Sells 54,036 Shares of Trimble Inc. $TRMB

Key Points

• Russell Investments Group Ltd. reduced its holdings in Trimble Inc. by 18.1% to $16.06 million, owning 244,713 shares after selling 54,036 shares in the first quarter.
• Following positive earnings results, analysts have shown confidence in Trimble, with several firms raising their price targets, placing estimates between $84.00 and $96.00.
• Insider activity revealed that CEO Robert G. Painter sold 115,781 shares for approximately $9.59 million, indicating a significant decrease in his position by over 50%.

Russell Investments Group Ltd. trimmed its position in Trimble Inc. (NASDAQ:TRMB - Free Report) by 18.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 244,713 shares of the scientific and technical instruments company's stock after selling 54,036 shares during the quarter. Russell Investments Group Ltd. owned about 0.10% of Trimble worth $16,062,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Central Pacific Bank Trust Division boosted its holdings in Trimble by 174.9% during 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 acquiring an additional 355 shares during the period. Putney Financial Group LLC acquired a new stake in Trimble in the 4th quarter valued at approximately $51,000. Quarry LP increased its position in Trimble by 121.8% in the 4th quarter. Quarry LP now owns 732 shares of the scientific and technical instruments company's stock worth $52,000 after buying an additional 402 shares during the period. Farther Finance Advisors LLC boosted its position in shares of Trimble by 153.5% in the first quarter. Farther Finance Advisors LLC now owns 976 shares of the scientific and technical instruments company's stock valued at $64,000 after acquiring an additional 591 shares during the period. Finally, Friedenthal Financial grew its stake in shares of Trimble by 64.7% in the first 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 last quarter. 93.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. 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. Piper Sandler reiterated an "overweight" rating and set a $84.00 target price on shares of Trimble in a research report on Thursday, May 8th. Wall Street Zen raised shares of Trimble from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Oppenheimer raised their price target on shares of Trimble from $88.00 to $94.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Finally, JPMorgan Chase & Co. upped their price objective on Trimble from $95.00 to $96.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating and seven have given a Buy rating to the stock. According to MarketBeat, Trimble presently has a consensus rating of "Buy" and a consensus price target of $90.50.

Trimble Price Performance

TRMB traded down $1.68 during midday trading on Tuesday, hitting $81.12. The company had a trading volume of 2,139,505 shares, compared to its average volume of 2,054,260. Trimble Inc. has a twelve month low of $52.91 and a twelve month high of $87.50. The company has a market capitalization of $19.30 billion, a PE ratio of 69.93, a P/E/G ratio of 3.40 and a beta of 1.69. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.81 and a current ratio of 0.94. The firm's 50-day simple moving average is $79.48 and its 200-day simple moving average is $71.85.

Trimble (NASDAQ:TRMB - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The scientific and technical instruments company reported $0.71 earnings per share for the quarter, beating analysts' consensus estimates of $0.63 by $0.08. The business had revenue of $875.70 million during the quarter, compared to analyst estimates of $835.81 million. Trimble had a net margin of 8.02% and a return on equity of 10.24%. Trimble's revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter last year, the business posted $0.62 earnings per share. Equities research analysts predict that Trimble Inc. will post 2.37 EPS for the current fiscal year.

Insider Buying and Selling at Trimble

In other news, VP Mark David Schwartz sold 1,476 shares of Trimble stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $78.00, for a total transaction of $115,128.00. Following the completion of the sale, the vice president owned 22,405 shares in the company, valued at $1,747,590. The trade was a 6.18% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Kaigham Gabriel sold 6,511 shares of the stock in a transaction that occurred on Wednesday, May 21st. The shares were 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 in the company, valued at $1,286,046.91. This represents a 26.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 228,894 shares of company stock worth $18,996,091 over the last quarter. Company insiders own 0.54% of the company's stock.

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.