64,473 Shares in Trimble Inc. (NASDAQ:TRMB) Acquired by S Bank Fund Management Ltd

Key Points

• S Bank Fund Management Ltd has acquired a new stake in Trimble Inc., purchasing 64,473 shares valued at approximately $4.23 million during the first quarter.
• Trimble's stock has received multiple analyst upgrades, with price targets raised by firms like Oppenheimer and Raymond James, indicating strong optimism with an average consensus price target of $90.50.
• Insider transactions indicate significant selling, including a notable sale of 115,781 shares by CEO Robert G. Painter, representing a 50.20% decrease in his ownership stake.

S Bank Fund Management Ltd purchased a new position in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 64,473 shares of the scientific and technical instruments company's stock, valued at approximately $4,233,000.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Trimble by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 30,288,658 shares of the scientific and technical instruments company's stock worth $1,988,450,000 after buying an additional 582,124 shares during the last quarter. Select Equity Group L.P. grew its holdings in shares of Trimble by 22.4% in the 4th quarter. Select Equity Group L.P. now owns 10,154,341 shares of the scientific and technical instruments company's stock worth $717,506,000 after acquiring an additional 1,857,517 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Trimble by 2.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,532,255 shares of the scientific and technical instruments company's stock valued at $390,909,000 after buying an additional 134,277 shares during the last quarter. Contour Asset Management LLC boosted its holdings in shares of Trimble by 4.4% during the fourth quarter. Contour Asset Management LLC now owns 4,681,182 shares of the scientific and technical instruments company's stock worth $330,772,000 after purchasing an additional 197,913 shares during the last quarter. Finally, Invesco Ltd. raised its position in Trimble by 9.7% in the first quarter. Invesco Ltd. now owns 3,840,550 shares of the scientific and technical instruments company's stock valued at $252,132,000 after purchasing an additional 339,750 shares during the period. Hedge funds and other institutional investors own 93.21% of the company's stock.

Trimble Stock Performance

Trimble stock traded down $1.43 during midday trading on Friday, hitting $82.24. The company's stock had a trading volume of 2,024,643 shares, compared to its average volume of 2,065,060. Trimble Inc. has a 1-year low of $52.91 and a 1-year high of $87.50. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.94 and a quick ratio of 0.81. The company has a 50-day moving average price of $79.11 and a two-hundred day moving average price of $71.77. The company has a market cap of $19.57 billion, a price-to-earnings ratio of 70.90, a PEG ratio of 3.43 and a beta of 1.69.

Trimble (NASDAQ:TRMB - Get Free Report) last announced 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 net margin of 8.02% and a return on equity of 10.24%. The company had revenue of $875.70 million for the quarter, compared to analyst estimates of $835.81 million. During the same period in the previous year, the firm posted $0.62 EPS. The firm's revenue was up .6% on a year-over-year basis. As a group, sell-side analysts predict that Trimble Inc. will post 2.37 earnings per share for the current year.

Insider Activity at Trimble

In related news, VP Jennifer Allison sold 3,156 shares of the company's stock in a transaction dated 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 in the company, 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 available at this hyperlink. Also, CEO Robert G. Painter sold 115,781 shares of the stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $82.83, for a total transaction of $9,590,140.23. Following the completion of the sale, the chief executive officer directly owned 114,879 shares of the company's stock, valued at $9,515,427.57. This represents a 50.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 228,894 shares of company stock worth $18,996,091. 0.54% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

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

About Trimble

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.