Toronto Dominion Bank Decreases Stock Holdings in Trimble Inc. (NASDAQ:TRMB)

Toronto Dominion Bank lowered its position in Trimble Inc. (NASDAQ:TRMB - Free Report) by 37.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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 reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in TRMB. Barclays PLC increased its holdings in Trimble by 4.3% during the third quarter. Barclays PLC now owns 743,319 shares of the scientific and technical instruments company's stock worth $46,151,000 after buying an additional 30,457 shares during the last quarter. Janney Montgomery Scott LLC bought a new position in shares of Trimble in the fourth quarter valued at approximately $596,000. Brighton Jones LLC bought a new position in shares of Trimble in the fourth quarter valued at approximately $211,000. PFG Investments LLC bought a new position in shares of Trimble in the fourth quarter valued at approximately $204,000. Finally, Blue Trust Inc. boosted its position in shares of Trimble by 93.7% in the fourth quarter. Blue Trust Inc. now owns 2,400 shares of the scientific and technical instruments company's stock valued at $170,000 after acquiring an additional 1,161 shares during the period. Hedge funds and other institutional investors own 93.21% of the company's stock.

Analyst Ratings Changes

TRMB has been the subject of a number of analyst reports. Cfra upgraded shares of Trimble from a "buy" rating to a "strong-buy" rating and set a $92.00 price objective for the company in a research report on Thursday, February 20th. Piper Sandler reiterated an "overweight" rating and set a $84.00 target price on shares of Trimble in a research report on Thursday, May 8th. Wall Street Zen lowered shares of Trimble from a "buy" rating to a "hold" rating in a research report on Thursday, May 8th. JPMorgan Chase & Co. lifted their target price on shares of Trimble from $84.00 to $88.00 and gave the company an "overweight" rating in a research report on Wednesday, May 14th. Finally, Oppenheimer boosted their price objective on shares of Trimble from $88.00 to $90.00 and gave the stock an "outperform" rating in a report on Thursday, February 20th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $88.43.

Insider Activity

In other news, Director Kaigham Gabriel sold 6,511 shares of the business's stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $71.69, for a total transaction of $466,773.59. Following the sale, 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.54% of the company's stock.

Trimble Trading Down 0.9%

Shares of NASDAQ TRMB traded down $0.66 during mid-day trading on Friday, hitting $71.00. The stock had a trading volume of 2,798,392 shares, compared to its average volume of 1,400,013. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.07 and a current ratio of 1.27. Trimble Inc. has a 1 year low of $48.65 and a 1 year high of $77.78. The business has a 50 day moving average price of $64.48 and a two-hundred day moving average price of $69.63. The firm has a market cap of $16.94 billion, a P/E ratio of 11.66, a price-to-earnings-growth ratio of 3.09 and a beta of 1.67.

Trimble (NASDAQ:TRMB - Get Free Report) last released its quarterly 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. Trimble had a net margin of 40.84% and a return on equity of 10.56%. The business had revenue of $840.60 million for the quarter, compared to analysts' expectations of $810.45 million. During the same quarter in the previous year, the business posted $0.64 earnings per share. The firm's revenue for the quarter was down 11.8% compared to the same quarter last year. On average, equities analysts anticipate that Trimble Inc. will post 2.37 EPS for the current fiscal year.

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.