Two Sigma Investments LP Sells 125,040 Shares of Trimble Inc. (NASDAQ:TRMB)

Two Sigma Investments LP reduced its position in Trimble Inc. (NASDAQ:TRMB - Free Report) by 50.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 122,175 shares of the scientific and technical instruments company's stock after selling 125,040 shares during the quarter. Two Sigma Investments LP's holdings in Trimble were worth $8,633,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Trimble in the 4th quarter worth approximately $190,391,000. Boston Partners boosted its stake in shares of Trimble by 217.3% in the fourth quarter. Boston Partners now owns 3,377,136 shares of the scientific and technical instruments company's stock valued at $239,802,000 after purchasing an additional 2,312,937 shares during the period. Select Equity Group L.P. boosted its stake in shares of Trimble by 22.4% in 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 purchasing an additional 1,857,517 shares during the period. TimesSquare Capital Management LLC acquired a new stake in Trimble during the 4th quarter valued at $50,041,000. Finally, JPMorgan Chase & Co. increased its stake in Trimble by 69.4% during the 4th quarter. JPMorgan Chase & Co. now owns 1,271,403 shares of the scientific and technical instruments company's stock worth $89,837,000 after buying an additional 520,980 shares during the period. Institutional investors and hedge funds own 93.21% of the company's stock.

Insider Buying and Selling

In other news, Director Kaigham Gabriel sold 6,511 shares of the stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $71.69, for a total transaction of $466,773.59. Following the completion of the sale, the director now owns 17,939 shares in the company, valued at approximately $1,286,046.91. This represents a 26.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.54% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Piper Sandler reaffirmed an "overweight" rating and set a $84.00 price target on shares of Trimble in a research report on Thursday, May 8th. JPMorgan Chase & Co. increased their target price on Trimble from $84.00 to $88.00 and gave the stock an "overweight" rating in a report on Wednesday, May 14th. Cfra upgraded Trimble from a "buy" rating to a "strong-buy" rating and set a $92.00 target price for the company in a research report on Thursday, February 20th. Wall Street Zen lowered Trimble from a "buy" rating to a "hold" rating in a research report on Thursday, May 8th. Finally, Oppenheimer raised their price objective on Trimble from $88.00 to $90.00 and gave the stock an "outperform" rating in a research note on Thursday, February 20th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Trimble currently has a consensus rating of "Buy" and a consensus target price of $88.43.

Trimble Price Performance

TRMB traded up $0.15 during trading on Thursday, reaching $71.66. The stock had a trading volume of 577,280 shares, compared to its average volume of 1,392,163. The stock has a 50 day moving average of $64.48 and a two-hundred day moving average of $69.65. The company has a quick ratio of 1.07, a current ratio of 1.27 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $17.10 billion, a price-to-earnings ratio of 11.77, a price-to-earnings-growth ratio of 3.09 and a beta of 1.67. Trimble Inc. has a 1-year low of $48.65 and a 1-year high of $77.78.

Trimble (NASDAQ:TRMB - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The scientific and technical instruments company reported $0.61 earnings per share for the quarter, beating 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 analyst estimates of $810.45 million. During the same quarter in the prior year, the firm posted $0.64 earnings per share. The company's revenue was down 11.8% on a year-over-year basis. As a group, equities analysts anticipate that Trimble Inc. will post 2.37 EPS for the current fiscal year.

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.