Victory Capital Management Inc. Trims Stake in Trimble Inc. (NASDAQ:TRMB)

Victory Capital Management Inc. cut its stake in Trimble Inc. (NASDAQ:TRMB - Free Report) by 4.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,398,084 shares of the scientific and technical instruments company's stock after selling 267,248 shares during the period. Victory Capital Management Inc. owned about 2.26% of Trimble worth $354,384,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Larson Financial Group LLC lifted its holdings in shares of Trimble by 88.9% in the 1st quarter. Larson Financial Group LLC now owns 1,281 shares of the scientific and technical instruments company's stock valued at $84,000 after purchasing an additional 603 shares during the last quarter. Wealthfront Advisers LLC increased its position in Trimble by 11.3% during the first quarter. Wealthfront Advisers LLC now owns 34,709 shares of the scientific and technical instruments company's stock worth $2,279,000 after buying an additional 3,519 shares during the period. Whittier Trust Co. lifted its stake in Trimble by 1,086.2% in the first quarter. Whittier Trust Co. now owns 6,465 shares of the scientific and technical instruments company's stock valued at $424,000 after buying an additional 5,920 shares during the last quarter. TimesSquare Capital Management LLC boosted its holdings in shares of Trimble by 5.6% in the first quarter. TimesSquare Capital Management LLC now owns 747,885 shares of the scientific and technical instruments company's stock valued at $49,099,000 after acquiring an additional 39,685 shares during the period. Finally, Apollon Wealth Management LLC grew its position in shares of Trimble by 150.7% during the first quarter. Apollon Wealth Management LLC now owns 8,966 shares of the scientific and technical instruments company's stock worth $589,000 after acquiring an additional 5,389 shares during the last quarter. Institutional investors and hedge funds own 93.21% of the company's stock.

Insider Transactions at Trimble

In other Trimble news, CEO Robert G. Painter sold 7,500 shares of the business's stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $78.86, for a total transaction of $591,450.00. Following the sale, the chief executive officer directly owned 114,879 shares in the company, valued at approximately $9,059,357.94. The trade was a 6.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Jennifer Allison sold 3,156 shares of the firm's stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $80.00, for a total value of $252,480.00. Following the completion of the transaction, the vice president owned 2,882 shares of the company's stock, valued at approximately $230,560. This represents a 52.27% decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,047 shares of company stock worth $1,538,152 over the last quarter. Insiders own 0.54% of the company's stock.

Analysts Set New Price Targets

TRMB has been the subject of a number of recent research reports. Oppenheimer increased their price target on shares of Trimble from $81.00 to $88.00 and gave the stock an "outperform" rating in a research note on Thursday. Wall Street Zen downgraded shares of Trimble from a "buy" rating to a "hold" rating in a research note on Thursday, May 8th. JPMorgan Chase & Co. raised their price target on Trimble from $88.00 to $95.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $84.00 price objective on shares of Trimble in a research note on Thursday, May 8th. One equities research 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $89.14.

Trimble Stock Performance

Shares of Trimble stock traded up $1.34 on Thursday, reaching $82.01. 892,480 shares of the stock were exchanged, compared to its average volume of 1,408,032. The firm has a market capitalization of $19.57 billion, a PE ratio of 13.37, a PEG ratio of 3.38 and a beta of 1.67. Trimble Inc. has a 1-year low of $48.65 and a 1-year high of $82.14. The business has a fifty day moving average price of $73.62 and a two-hundred day moving average price of $70.20. 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 (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 (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.01. The company had revenue of $840.60 million for the quarter, compared to analysts' expectations of $810.45 million. Trimble had a return on equity of 9.87% and a net margin of 42.40%. The firm's quarterly revenue was down 11.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.64 EPS. As a group, research analysts anticipate that Trimble Inc. will post 2.37 earnings per share 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.