Skandinaviska Enskilda Banken AB publ Raises Holdings in Trimble Inc. (NASDAQ:TRMB)

Key Points

• Skandinaviska Enskilda Banken AB increased its position in Trimble Inc. by 9.8%, owning 78,774 shares worth approximately $5.17 million as of its latest SEC filing.
• Trimble reported earnings of $0.61 per share for the last quarter, surpassing expectations, and achieved revenue of $840.60 million, down 11.8% from the prior year.
• Brokerage firm JPMorgan Chase & Co. has raised its price target for Trimble shares from $88.00 to $95.00, maintaining an "overweight" rating.

Skandinaviska Enskilda Banken AB publ lifted its position in Trimble Inc. (NASDAQ:TRMB - Free Report) by 9.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 78,774 shares of the scientific and technical instruments company's stock after buying an additional 7,051 shares during the quarter. Skandinaviska Enskilda Banken AB publ's holdings in Trimble were worth $5,167,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brighton Jones LLC bought a new position in shares of Trimble in the fourth quarter worth approximately $211,000. Commonwealth Equity Services LLC grew its position in Trimble by 10.4% during the fourth quarter. Commonwealth Equity Services LLC now owns 16,527 shares of the scientific and technical instruments company's stock valued at $1,168,000 after acquiring an additional 1,551 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Trimble by 18.1% during the fourth quarter. American Century Companies Inc. now owns 15,421 shares of the scientific and technical instruments company's stock valued at $1,090,000 after purchasing an additional 2,360 shares during the period. Sei Investments Co. boosted its stake in shares of Trimble by 26.6% during the fourth quarter. Sei Investments Co. now owns 139,684 shares of the scientific and technical instruments company's stock valued at $9,870,000 after purchasing an additional 29,343 shares during the period. Finally, LPL Financial LLC boosted its stake in shares of Trimble by 95.2% during the fourth quarter. LPL Financial LLC now owns 44,839 shares of the scientific and technical instruments company's stock valued at $3,168,000 after purchasing an additional 21,871 shares during the period. 93.21% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Trimble news, VP Mark David Schwartz sold 1,476 shares of the company's stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $78.00, for a total value of $115,128.00. Following the transaction, the vice president owned 22,405 shares of the company's stock, valued at $1,747,590. This represents a 6.18% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Jennifer Allison sold 3,156 shares of the company's stock in a transaction 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 completion of the transaction, the vice president directly owned 2,882 shares in the company, valued at $230,560. This trade represents a 52.27% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,047 shares of company stock worth $1,538,152. Insiders own 0.54% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on TRMB. Piper Sandler reaffirmed an "overweight" rating and issued a $84.00 price target on shares of Trimble in a research note on Thursday, May 8th. Wall Street Zen downgraded Trimble from a "buy" rating to a "hold" rating in a report on Thursday, May 8th. JPMorgan Chase & Co. boosted their price target on Trimble from $88.00 to $95.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Finally, Oppenheimer lifted their price objective on Trimble from $81.00 to $88.00 and gave the company an "outperform" rating in a research report on Thursday, July 17th. One 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 stock. Based on data from MarketBeat.com, Trimble presently has an average rating of "Buy" and an average price target of $89.14.

Trimble Price Performance

NASDAQ:TRMB traded down $0.35 during trading hours on Thursday, reaching $84.84. The stock had a trading volume of 418,781 shares, compared to its average volume of 1,536,162. The stock has a market capitalization of $20.24 billion, a PE ratio of 13.86, a PEG ratio of 3.61 and a beta of 1.67. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.72 and a current ratio of 0.84. The company has a 50 day moving average price of $76.21 and a two-hundred day moving average price of $71.07. Trimble Inc. has a 52 week low of $48.65 and a 52 week high of $86.42.

Trimble (NASDAQ:TRMB - Get Free Report) last released its earnings results on Wednesday, May 7th. The scientific and technical instruments company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.01. The firm had revenue of $840.60 million for the quarter, compared to the consensus estimate of $810.45 million. Trimble had a return on equity of 9.87% and a net margin of 42.40%. The company's revenue for the quarter was down 11.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.64 EPS. As a group, sell-side analysts anticipate that Trimble Inc. will post 2.37 earnings per share 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.