Trimble Inc. (NASDAQ:TRMB) Stock Holdings Cut by Bank of Nova Scotia

Bank of Nova Scotia trimmed its position in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) by 51.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 25,962 shares of the scientific and technical instruments company's stock after selling 27,428 shares during the period. Bank of Nova Scotia's holdings in Trimble were worth $1,704,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in TRMB. Brighton Jones LLC acquired a new position in shares of Trimble in the 4th quarter valued at about $211,000. American Century Companies Inc. grew its stake in Trimble by 18.1% during the fourth quarter. American Century Companies Inc. now owns 15,421 shares of the scientific and technical instruments company's stock worth $1,090,000 after buying an additional 2,360 shares during the period. LPL Financial LLC increased its position in shares of Trimble by 95.2% in the fourth quarter. LPL Financial LLC now owns 44,839 shares of the scientific and technical instruments company's stock worth $3,168,000 after acquiring an additional 21,871 shares in the last quarter. O Shaughnessy Asset Management LLC raised its stake in shares of Trimble by 17.7% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 5,595 shares of the scientific and technical instruments company's stock valued at $395,000 after acquiring an additional 841 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in shares of Trimble by 32.4% during the 4th quarter. Wellington Management Group LLP now owns 22,360 shares of the scientific and technical instruments company's stock valued at $1,580,000 after acquiring an additional 5,472 shares in the last quarter. 93.21% of the stock is owned by hedge funds and other institutional investors.

Trimble Stock Performance

Shares of TRMB traded up $1.25 during mid-day trading on Friday, hitting $83.77. The stock had a trading volume of 2,390,747 shares, compared to its average volume of 1,580,191. Trimble Inc. has a fifty-two week low of $51.03 and a fifty-two week high of $87.50. The company has a quick ratio of 0.72, a current ratio of 0.94 and a debt-to-equity ratio of 0.25. The company has a market cap of $19.99 billion, a PE ratio of 72.22, a PEG ratio of 3.58 and a beta of 1.69. The company's fifty day simple moving average is $77.67 and its two-hundred day simple moving average is $71.49.

Trimble (NASDAQ:TRMB - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The scientific and technical instruments company reported $0.71 EPS for the quarter, topping analysts' consensus estimates of $0.63 by $0.08. Trimble had a net margin of 8.02% and a return on equity of 10.24%. The firm had revenue of $875.70 million during the quarter, compared to the consensus estimate of $835.81 million. During the same quarter in the previous year, the company posted $0.62 earnings per share. The firm's revenue was up .6% on a year-over-year basis. On average, equities analysts expect that Trimble Inc. will post 2.37 earnings per share for the current year.

Insider Buying and Selling at Trimble

In other Trimble news, VP Jennifer Allison sold 3,156 shares of the firm's stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $80.00, for a total value of $252,480.00. Following the transaction, the vice president owned 2,882 shares of the company's stock, valued at $230,560. This trade represents a 52.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kaigham Gabriel sold 6,511 shares of the stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $71.69, for a total value of $466,773.59. Following the sale, the director owned 17,939 shares in the company, valued at $1,286,046.91. The trade was a 26.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,047 shares of company stock worth $1,538,152 in the last quarter. 0.54% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have commented on TRMB. Oppenheimer raised their price objective on Trimble from $88.00 to $94.00 and gave the company an "outperform" rating in a research report on Thursday. Raymond James Financial reissued an "outperform" rating and set a $93.00 price target (up from $85.00) on shares of Trimble in a research report on Thursday. Piper Sandler reaffirmed an "overweight" rating and issued a $84.00 price objective on shares of Trimble in a research report on Thursday, May 8th. JPMorgan Chase & Co. lifted their price objective on shares of Trimble from $95.00 to $96.00 and gave the company an "overweight" rating in a research note on Thursday. Finally, Wall Street Zen downgraded shares of Trimble from a "buy" rating to a "hold" rating in a research note on Thursday, May 8th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $90.50.

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.