J. Safra Sarasin Holding AG Has $6.93 Million Stock Holdings in Trimble Inc. (NASDAQ:TRMB)

Key Points

• J. Safra Sarasin Holding AG increased its stake in Trimble Inc. by 61.9%, holding 105,622 shares valued at $6,934,000 at the end of the most recent reporting period.
• Analysts have issued varying ratings for Trimble, with JPMorgan lifting the target price from $88.00 to $95.00 and Oppenheimer from $81.00 to $88.00, while maintaining an overall consensus rating of "Buy."
• Trimble's recent earnings report showed earnings per share of $0.61, exceeding estimates, but revenue decreased by 11.8% compared to the prior year.

J. Safra Sarasin Holding AG increased its holdings in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) by 61.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 105,622 shares of the scientific and technical instruments company's stock after buying an additional 40,394 shares during the quarter. J. Safra Sarasin Holding AG's holdings in Trimble were worth $6,934,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of TRMB. Select Equity Group L.P. grew its holdings in shares of Trimble by 22.4% during the fourth quarter. Select Equity Group L.P. now owns 10,154,341 shares of the scientific and technical instruments company's stock valued at $717,506,000 after buying an additional 1,857,517 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Trimble by 338.8% during the first quarter. Assenagon Asset Management S.A. now owns 815,909 shares of the scientific and technical instruments company's stock valued at $53,564,000 after buying an additional 629,960 shares in the last quarter. Adage Capital Partners GP L.L.C. boosted its position in Trimble by 161.1% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 601,122 shares of the scientific and technical instruments company's stock valued at $42,475,000 after purchasing an additional 370,900 shares during the last quarter. Marshall Wace LLP acquired a new stake in Trimble during the fourth quarter valued at $24,532,000. Finally, GAMMA Investing LLC boosted its position in Trimble by 8,114.0% during the first quarter. GAMMA Investing LLC now owns 346,304 shares of the scientific and technical instruments company's stock valued at $22,735,000 after purchasing an additional 342,088 shares during the last quarter. Hedge funds and other institutional investors own 93.21% of the company's stock.

Insider Buying and Selling

In related news, CEO Robert G. Painter sold 7,500 shares of the business's stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $78.86, for a total transaction of $591,450.00. Following the completion of the transaction, the chief executive officer owned 114,879 shares of the company's stock, valued at approximately $9,059,357.94. The trade was a 6.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Mark David Schwartz sold 1,404 shares of the business's stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $80.00, for a total value of $112,320.00. Following the transaction, the vice president directly owned 21,001 shares of the company's stock, valued at $1,680,080. This represents a 6.27% 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 ninety days. 0.54% of the stock is currently owned by corporate insiders.

Trimble Stock Down 2.3%

Shares of NASDAQ:TRMB traded down $1.91 on Tuesday, reaching $82.34. The company had a trading volume of 220,613 shares, compared to its average volume of 1,544,570. Trimble Inc. has a twelve month low of $49.84 and a twelve month high of $86.42. The stock has a 50-day moving average price of $76.99 and a 200 day moving average price of $71.28. The stock has a market capitalization of $19.65 billion, a P/E ratio of 13.43, a P/E/G ratio of 3.52 and a beta of 1.69. The company has a quick ratio of 0.72, a current ratio of 0.84 and a debt-to-equity ratio of 0.26.

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 for the quarter, topping analysts' consensus estimates of $0.60 by $0.01. Trimble had a return on equity of 9.87% and a net margin of 42.40%. The company had revenue of $840.60 million during the quarter, compared to analysts' expectations of $810.45 million. During the same quarter in the previous year, the firm earned $0.64 earnings per share. The business's quarterly revenue was down 11.8% compared to the same quarter last year. On average, equities analysts expect that Trimble Inc. will post 2.37 EPS for the current year.

Analyst Ratings Changes

A number of analysts recently issued reports on TRMB shares. JPMorgan Chase & Co. lifted their price objective on Trimble from $88.00 to $95.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Oppenheimer lifted their price objective on Trimble from $81.00 to $88.00 and gave the company an "outperform" rating in a research report on Thursday, July 17th. Wall Street Zen cut Trimble from a "buy" rating to a "hold" rating in a research report on Thursday, May 8th. Finally, Piper Sandler reissued an "overweight" rating and set a $84.00 price objective on shares of Trimble in a research report on Thursday, May 8th. 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 company. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $89.14.

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.