Trimble Inc. (NASDAQ:TRMB) Shares Sold by Mackenzie Financial Corp

Mackenzie Financial Corp trimmed its holdings in Trimble Inc. (NASDAQ:TRMB - Free Report) by 25.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,947 shares of the scientific and technical instruments company's stock after selling 7,763 shares during the period. Mackenzie Financial Corp's holdings in Trimble were worth $1,621,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TRMB. Cullen Frost Bankers Inc. grew its stake in shares of Trimble by 0.6% in the fourth quarter. Cullen Frost Bankers Inc. now owns 22,969 shares of the scientific and technical instruments company's stock worth $1,623,000 after purchasing an additional 141 shares during the last quarter. Essex Investment Management Co. LLC increased its stake in shares of Trimble by 0.5% during the 4th quarter. Essex Investment Management Co. LLC now owns 28,546 shares of the scientific and technical instruments company's stock worth $2,017,000 after purchasing an additional 141 shares during the last quarter. SRS Capital Advisors Inc. boosted its holdings in Trimble by 12.7% in the 4th quarter. SRS Capital Advisors Inc. now owns 1,322 shares of the scientific and technical instruments company's stock worth $93,000 after buying an additional 149 shares during the period. M&T Bank Corp boosted its holdings in Trimble by 1.6% in the 4th quarter. M&T Bank Corp now owns 10,155 shares of the scientific and technical instruments company's stock valued at $717,000 after purchasing an additional 156 shares during the period. Finally, Huntington National Bank boosted its stake in Trimble by 10.4% in the fourth quarter. Huntington National Bank now owns 1,768 shares of the scientific and technical instruments company's stock worth $125,000 after buying an additional 167 shares in the last quarter. 93.21% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Kaigham Gabriel sold 6,511 shares of the company's stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $71.69, for a total transaction of $466,773.59. Following the transaction, the director now directly owns 17,939 shares of the company's stock, valued at $1,286,046.91. This represents a 26.63% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.54% of the company's stock.

Trimble Trading Up 1.3%

Trimble stock traded up $0.93 during midday trading on Tuesday, reaching $71.77. The stock had a trading volume of 798,097 shares, compared to its average volume of 1,398,339. The company has a quick ratio of 1.07, a current ratio of 1.27 and a debt-to-equity ratio of 0.24. Trimble Inc. has a 52-week low of $48.65 and a 52-week high of $77.78. The firm has a market cap of $17.12 billion, a price-to-earnings ratio of 11.79, a price-to-earnings-growth ratio of 3.09 and a beta of 1.67. The company has a fifty day moving average of $64.52 and a 200 day moving average of $69.60.

Trimble (NASDAQ:TRMB - Get Free Report) last issued its earnings results on Wednesday, May 7th. The scientific and technical instruments company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.01. Trimble had a return on equity of 10.56% and a net margin of 40.84%. The business had revenue of $840.60 million during the quarter, compared to analysts' expectations of $810.45 million. During the same period in the prior year, the business earned $0.64 EPS. The business's revenue for the quarter was down 11.8% compared to the same quarter last year. On average, analysts anticipate that Trimble Inc. will post 2.37 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. upped their target price on Trimble from $84.00 to $88.00 and gave the company an "overweight" rating in a report on Wednesday, May 14th. Cfra raised Trimble from a "buy" rating to a "strong-buy" rating and set a $92.00 target price on the stock in a research report on Thursday, February 20th. Oppenheimer lifted their price target on shares of Trimble from $88.00 to $90.00 and gave the stock an "outperform" rating in a research note on Thursday, February 20th. Wall Street Zen downgraded Trimble from a "buy" rating to a "hold" rating in a research note on Thursday, May 8th. Finally, Piper Sandler reiterated an "overweight" rating and issued a $84.00 price target 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 given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $88.43.

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.