Teacher Retirement System of Texas Acquires 3,796 Shares of Trimble Inc. (NASDAQ:TRMB)

Teacher Retirement System of Texas grew its position in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) by 5.2% during the first quarter, according to its most recent filing with the SEC. The firm owned 77,360 shares of the scientific and technical instruments company's stock after acquiring an additional 3,796 shares during the period. Teacher Retirement System of Texas' holdings in Trimble were worth $5,079,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in TRMB. Crowley Wealth Management Inc. purchased a new position in shares of Trimble during the 4th quarter worth approximately $28,000. Rialto Wealth Management LLC purchased a new stake in shares of Trimble in the 4th quarter worth approximately $35,000. SBI Securities Co. Ltd. purchased a new stake in shares of Trimble in the 4th quarter worth approximately $36,000. Central Pacific Bank Trust Division grew its stake in shares of Trimble by 174.9% in the 1st 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 last quarter. Finally, Larson Financial Group LLC grew its stake in shares of Trimble by 164.8% in the 4th 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. Hedge funds and other institutional investors own 93.21% of the company's stock.

Insiders Place Their Bets

In related news, CEO Robert G. Painter sold 7,500 shares of the firm's stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $78.86, for a total value of $591,450.00. Following the transaction, the chief executive officer directly owned 114,879 shares of the company's stock, valued at approximately $9,059,357.94. This trade represents a 6.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kaigham Gabriel sold 6,511 shares of the firm's stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $71.69, for a total value of $466,773.59. Following the completion of the transaction, the director directly owned 17,939 shares in the company, valued at approximately $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. Over the last ninety days, insiders have sold 15,487 shares of company stock worth $1,173,352. Company insiders own 0.54% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on TRMB shares. Piper Sandler restated 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 research note on Thursday, May 8th. Finally, JPMorgan Chase & Co. upped their price target on Trimble from $88.00 to $95.00 and gave the stock an "overweight" rating in a research note on Thursday. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $89.43.

Trimble Stock Down 1.0%

TRMB traded down $0.84 during trading on Friday, hitting $79.99. 1,207,091 shares of the company's stock traded hands, compared to its average volume of 1,402,778. The company's 50 day simple moving average is $72.38 and its two-hundred day simple moving average is $69.97. The company has a current ratio of 0.84, a quick ratio of 0.72 and a debt-to-equity ratio of 0.26. Trimble Inc. has a 12-month low of $48.65 and a 12-month high of $81.66. The stock has a market capitalization of $19.08 billion, a price-to-earnings ratio of 13.05, a PEG ratio of 3.40 and a beta of 1.67.

Trimble (NASDAQ:TRMB - Get Free Report) last issued its earnings results on Wednesday, May 7th. The scientific and technical instruments company reported $0.61 EPS for the quarter, beating the consensus estimate of $0.60 by $0.01. The business 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 was down 11.8% compared to the same quarter last year. During the same period last year, the business posted $0.64 EPS. Analysts predict 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.