Trimble Inc. (NASDAQ:TRMB) Holdings Decreased by Millennium Management LLC

Millennium Management LLC trimmed its position in Trimble Inc. (NASDAQ:TRMB - Free Report) by 16.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 342,365 shares of the scientific and technical instruments company's stock after selling 67,120 shares during the quarter. Millennium Management LLC owned approximately 0.14% of Trimble worth $24,192,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in TRMB. Crowley Wealth Management Inc. bought a new stake in shares of Trimble in 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 approximately $35,000. SBI Securities Co. Ltd. bought a new position in Trimble during the 4th quarter worth $36,000. Larson Financial Group LLC grew its stake in Trimble by 164.8% during 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. Finally, Mather Group LLC. grew its stake in Trimble by 86.4% during the 4th quarter. Mather Group LLC. now owns 740 shares of the scientific and technical instruments company's stock worth $52,000 after buying an additional 343 shares during the last quarter. 93.21% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director James Calvin Dalton sold 2,141 shares of the company's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $71.79, for a total value of $153,702.39. Following the completion of the sale, the director now owns 10,162 shares in the company, valued at $729,529.98. This represents a 17.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Christopher F. Keating sold 5,709 shares of the company's stock in a transaction 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. Insiders own 0.54% of the company's stock.

Analyst Upgrades and Downgrades

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

Trimble Trading Down 0.3%

Shares of TRMB stock opened at $71.69 on Tuesday. 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 stock has a fifty day moving average of $64.29 and a two-hundred day moving average of $69.52. The firm has a market capitalization of $17.10 billion, a PE ratio of 11.77, a price-to-earnings-growth ratio of 3.09 and a beta of 1.67.

Trimble (NASDAQ:TRMB - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The scientific and technical instruments company reported $0.61 earnings per share (EPS) for the quarter, topping 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 firm posted $0.64 EPS. The firm's quarterly revenue was down 11.8% on a year-over-year basis. As a group, research analysts expect that Trimble Inc. will post 2.37 EPS for the current 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.

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