Fjarde AP Fonden Fourth Swedish National Pension Fund Sells 7,600 Shares of Trimble Inc. $TRMB

Key Points

• Fjarde AP Fonden Fourth Swedish National Pension Fund reduced its stake in Trimble Inc. by 14%, owning 46,780 shares after selling 7,600 shares during the first quarter.
• Trimble's recent earnings report showed $0.71 EPS, surpassing estimates, with a revenue of $875.70 million in the quarter.
• Wall Street analysts have a consensus rating of "Buy" for Trimble, with price targets ranging from $84.00 to $96.00.

Fjarde AP Fonden Fourth Swedish National Pension Fund reduced its position in Trimble Inc. (NASDAQ:TRMB - Free Report) by 14.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,780 shares of the scientific and technical instruments company's stock after selling 7,600 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Trimble were worth $3,071,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TRMB. Kovitz Investment Group Partners LLC lifted its stake in Trimble by 0.5% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 37,876 shares of the scientific and technical instruments company's stock valued at $2,676,000 after buying an additional 193 shares during the last quarter. Oregon Public Employees Retirement Fund grew its holdings in shares of Trimble by 1.0% during the first quarter. Oregon Public Employees Retirement Fund now owns 21,113 shares of the scientific and technical instruments company's stock worth $1,386,000 after buying an additional 210 shares in the last quarter. Simmons Bank boosted its stake in Trimble by 1.4% in the 1st quarter. Simmons Bank now owns 15,989 shares of the scientific and technical instruments company's stock worth $1,050,000 after buying an additional 214 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of Trimble by 0.5% in the 1st quarter. Nisa Investment Advisors LLC now owns 61,673 shares of the scientific and technical instruments company's stock valued at $4,049,000 after purchasing an additional 290 shares in the last quarter. Finally, Pinnacle Wealth Management Advisory Group LLC lifted its stake in shares of Trimble by 9.3% in the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 3,617 shares of the scientific and technical instruments company's stock valued at $237,000 after purchasing an additional 309 shares in the last quarter. 93.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have issued reports on TRMB. Wall Street Zen upgraded Trimble from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Raymond James Financial reaffirmed an "outperform" rating and set a $93.00 target price (up from $85.00) on shares of Trimble in a research report on Thursday, August 7th. Oppenheimer upped their price target on Trimble from $88.00 to $94.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Piper Sandler reiterated an "overweight" rating and set a $84.00 price target on shares of Trimble in a research note on Thursday, May 8th. Finally, JPMorgan Chase & Co. increased their target price on Trimble from $95.00 to $96.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $90.50.

Trimble Stock Down 2.0%

Shares of TRMB traded down $1.68 during midday trading on Tuesday, hitting $81.12. The stock had a trading volume of 2,139,505 shares, compared to its average volume of 2,054,260. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.94 and a quick ratio of 0.81. The company has a 50 day simple moving average of $79.48 and a two-hundred day simple moving average of $71.85. The firm has a market cap of $19.30 billion, a price-to-earnings ratio of 69.93, a price-to-earnings-growth ratio of 3.40 and a beta of 1.69. Trimble Inc. has a twelve month low of $52.91 and a twelve month high of $87.50.

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

Insider Buying and Selling

In related news, VP Mark David Schwartz sold 1,404 shares of the business's stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $80.00, for a total value of $112,320.00. Following the completion of the sale, the vice president directly owned 21,001 shares in the company, valued at approximately $1,680,080. The trade was a 6.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Kaigham Gabriel sold 6,511 shares of the company's stock in a transaction 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 of the company's stock, 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. In the last ninety days, insiders have sold 228,894 shares of company stock valued at $18,996,091. 0.54% of the stock is currently owned by corporate insiders.

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.