Sumitomo Mitsui Trust Group Inc. Has $241.02 Million Position in Trimble Inc. (NASDAQ:TRMB)

Sumitomo Mitsui Trust Group Inc. decreased its stake in Trimble Inc. (NASDAQ:TRMB - Free Report) by 20.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,671,287 shares of the scientific and technical instruments company's stock after selling 972,104 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 1.49% of Trimble worth $241,020,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Crowley Wealth Management Inc. acquired a new stake in Trimble during the 4th quarter valued at approximately $28,000. Rialto Wealth Management LLC bought a new stake in shares of Trimble in the 4th quarter valued at $35,000. SBI Securities Co. Ltd. bought a new stake in shares of Trimble in the 4th quarter valued at $36,000. Central Pacific Bank Trust Division increased its position in shares of 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 worth $37,000 after buying an additional 355 shares during the period. Finally, Larson Financial Group LLC raised its stake in 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 during the last quarter. 93.21% of the stock is currently owned by institutional investors.

Insider Activity

In other Trimble news, Director Kaigham Gabriel sold 6,511 shares of Trimble stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $71.69, for a total transaction of $466,773.59. Following the completion of the transaction, the director now owns 17,939 shares in the company, valued at approximately $1,286,046.91. The trade was a 26.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.54% of the company's stock.

Trimble Stock Performance

Shares of Trimble stock opened at $75.65 on Friday. The business has a 50-day simple moving average of $69.15 and a 200 day simple moving average of $69.58. The firm has a market capitalization of $18.05 billion, a price-to-earnings ratio of 12.34, a PEG ratio of 3.23 and a beta of 1.68. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.84 and a quick ratio of 0.72. Trimble Inc. has a one year low of $48.65 and a one year high of $77.78.

Trimble (NASDAQ:TRMB - Get Free Report) last issued its earnings results 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. Trimble had a return on equity of 9.87% and a net margin of 42.40%. The company had revenue of $840.60 million for the quarter, compared to analyst estimates of $810.45 million. During the same period in the prior year, the firm earned $0.64 earnings per share. Trimble's revenue for the quarter was down 11.8% on a year-over-year basis. On average, research analysts anticipate that Trimble Inc. will post 2.37 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have commented on TRMB shares. Piper Sandler reaffirmed an "overweight" rating and set a $84.00 price target on shares of Trimble in a research report on Thursday, May 8th. Wall Street Zen lowered Trimble from a "buy" rating to a "hold" rating in a research report on Thursday, May 8th. Finally, JPMorgan Chase & Co. raised their target price on Trimble from $84.00 to $88.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 14th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Trimble presently has a consensus rating of "Buy" and an average price target of $88.43.

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.

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