Toronto Dominion Bank Has $5.82 Million Stock Position in Trimble Inc. (NASDAQ:TRMB)

Toronto Dominion Bank lowered its holdings in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) by 37.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 82,397 shares of the scientific and technical instruments company's stock after selling 48,859 shares during the period. Toronto Dominion Bank's holdings in Trimble were worth $5,822,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in TRMB. Crowley Wealth Management Inc. acquired a new stake in Trimble in the fourth quarter valued at approximately $28,000. Rialto Wealth Management LLC bought a new position in shares of Trimble in the fourth quarter valued at approximately $35,000. SBI Securities Co. Ltd. bought a new stake in Trimble during the fourth quarter worth $36,000. Larson Financial Group LLC lifted its holdings 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 acquiring an additional 422 shares during the period. Finally, Mather Group LLC. lifted its holdings in Trimble by 86.4% during the fourth quarter. Mather Group LLC. now owns 740 shares of the scientific and technical instruments company's stock worth $52,000 after acquiring an additional 343 shares during the period. Institutional investors and hedge funds own 93.21% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Cfra upgraded Trimble from a "buy" rating to a "strong-buy" rating and set a $92.00 price target on the stock in a report on Thursday, February 20th. Oppenheimer boosted their target price on Trimble from $88.00 to $90.00 and gave the company an "outperform" rating in a research note on Thursday, February 20th. JPMorgan Chase & Co. boosted their target price on Trimble from $84.00 to $88.00 and gave the company an "overweight" rating in a research note on Wednesday, May 14th. StockNews.com cut Trimble from a "buy" rating to a "hold" rating in a research report on Thursday, May 8th. Finally, Piper Sandler reiterated an "overweight" rating and issued a $84.00 price target on shares of Trimble in a research report on Thursday, May 8th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $88.43.

Trimble Trading Down 2.1%

NASDAQ TRMB opened at $70.76 on Thursday. Trimble Inc. has a 1-year low of $48.65 and a 1-year high of $77.78. The company has a current ratio of 1.27, a quick ratio of 1.07 and a debt-to-equity ratio of 0.24. The stock has a 50-day moving average of $64.44 and a 200-day moving average of $69.55. The firm has a market cap of $16.88 billion, a PE ratio of 11.62, a price-to-earnings-growth ratio of 3.09 and a beta of 1.67.

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 analysts' consensus estimates of $0.60 by $0.01. Trimble had a return on equity of 10.56% and a net margin of 40.84%. The company had revenue of $840.60 million during the quarter, compared to analyst estimates of $810.45 million. During the same quarter in the previous year, the company posted $0.64 EPS. Trimble's revenue for the quarter was down 11.8% on a year-over-year basis. As a group, sell-side analysts forecast that Trimble Inc. will post 2.37 EPS for the current year.

Insider Activity

In other Trimble news, Director James Calvin Dalton sold 2,141 shares of the company's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $71.79, for a total transaction of $153,702.39. Following the completion of the transaction, the director now owns 10,162 shares of the company's stock, valued at $729,529.98. This represents a 17.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Christopher F. Keating sold 5,709 shares of the company's stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $72.00, for a total value of $411,048.00. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by corporate insiders.

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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