First American Trust FSB Trims Holdings in Trimble Inc. (NASDAQ:TRMB)

Key Points

• First American Trust FSB reduced its stake in Trimble Inc. by 44% during the first quarter, holding 62,193 shares worth approximately $4.08 million.
• In the same period, multiple hedge funds increased their holdings in Trimble, with Vanguard Group Inc. increasing its stake by 2%, owning over $1.98 billion worth of shares.
• Trimble reported a quarterly EPS of $0.71, exceeding analyst expectations of $0.63, along with a revenue of $875.70 million, up 0.6% from the previous year.

First American Trust FSB lowered its holdings in Trimble Inc. (NASDAQ:TRMB - Free Report) by 44.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 62,193 shares of the scientific and technical instruments company's stock after selling 48,840 shares during the quarter. First American Trust FSB's holdings in Trimble were worth $4,083,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Trimble by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 30,288,658 shares of the scientific and technical instruments company's stock valued at $1,988,450,000 after purchasing an additional 582,124 shares in the last quarter. Select Equity Group L.P. increased its position in 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 worth $717,506,000 after buying an additional 1,857,517 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Trimble by 2.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,532,255 shares of the scientific and technical instruments company's stock valued at $390,909,000 after buying an additional 134,277 shares during the last quarter. Contour Asset Management LLC boosted its holdings in shares of Trimble by 4.4% in the fourth quarter. Contour Asset Management LLC now owns 4,681,182 shares of the scientific and technical instruments company's stock valued at $330,772,000 after acquiring an additional 197,913 shares during the period. Finally, Invesco Ltd. grew its position in shares of Trimble by 9.7% during the first quarter. Invesco Ltd. now owns 3,840,550 shares of the scientific and technical instruments company's stock worth $252,132,000 after acquiring an additional 339,750 shares during the last quarter. Hedge funds and other institutional investors own 93.21% of the company's stock.

Trimble Price Performance

NASDAQ:TRMB traded up $1.02 during mid-day trading on Tuesday, hitting $83.61. 1,554,608 shares of the company's stock traded hands, compared to its average volume of 2,070,572. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.81 and a current ratio of 0.94. The company has a market cap of $19.90 billion, a PE ratio of 72.08, a price-to-earnings-growth ratio of 3.50 and a beta of 1.69. The firm's 50 day simple moving average is $78.40 and its 200 day simple moving average is $71.58. Trimble Inc. has a 1 year low of $52.22 and a 1 year high of $87.50.

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

Insider Activity

In other news, VP Mark David Schwartz sold 1,476 shares of the stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $78.00, for a total transaction of $115,128.00. Following the transaction, the vice president directly owned 22,405 shares in the company, valued at $1,747,590. This represents a 6.18% decrease in their position. 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 Trimble stock in a transaction that occurred 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 transaction, the director directly owned 17,939 shares in the company, valued at approximately $1,286,046.91. This trade represents a 26.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 228,894 shares of company stock valued at $18,996,091 in the last 90 days. Company insiders own 0.54% of the company's stock.

Wall Street Analysts Forecast Growth

TRMB has been the subject of a number of recent research reports. JPMorgan Chase & Co. increased their price target on shares of Trimble from $95.00 to $96.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. Raymond James Financial reissued an "outperform" rating and set a $93.00 price objective (up from $85.00) on shares of Trimble in a research report on Thursday, August 7th. Wall Street Zen raised shares of Trimble from a "hold" rating to a "buy" rating in a research report on Saturday. Oppenheimer boosted their price objective on shares of Trimble from $88.00 to $94.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Finally, Piper Sandler reissued an "overweight" rating and issued a $84.00 price objective on shares of Trimble in a research note on Thursday, May 8th. Eight equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $90.50.

About Trimble

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.