Trimble Inc. $TRMB Shares Sold by Neuberger Berman Group LLC

Key Points

• Neuberger Berman Group LLC reduced its stake in Trimble Inc. by 22.3% in the first quarter, bringing their total shares to 29,957 worth around $1.97 million.
• Trimble's recent earnings showed a per-share profit of $0.71, exceeding estimates, with a revenue of $875.70 million, which also surpassed expectations.
• Various analysts have upgraded Trimble's stock rating, with a median price target now set at $90.50, indicating strong market confidence in the company's future performance.

Neuberger Berman Group LLC trimmed its holdings in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) by 22.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,957 shares of the scientific and technical instruments company's stock after selling 8,600 shares during the period. Neuberger Berman Group LLC's holdings in Trimble were worth $1,967,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Kovitz Investment Group Partners LLC lifted its holdings in shares of Trimble by 0.5% during the 4th 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 acquiring an additional 193 shares in the last quarter. Oregon Public Employees Retirement Fund increased its stake in shares of Trimble by 1.0% in the first quarter. Oregon Public Employees Retirement Fund now owns 21,113 shares of the scientific and technical instruments company's stock valued at $1,386,000 after purchasing an additional 210 shares during the period. Simmons Bank boosted its holdings in shares of Trimble by 1.4% in the first quarter. Simmons Bank now owns 15,989 shares of the scientific and technical instruments company's stock valued at $1,050,000 after acquiring an additional 214 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in Trimble by 0.5% during the first quarter. Nisa Investment Advisors LLC now owns 61,673 shares of the scientific and technical instruments company's stock worth $4,049,000 after buying an additional 290 shares in the last quarter. Finally, Pinnacle Wealth Management Advisory Group LLC boosted its stake in 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 worth $237,000 after purchasing an additional 309 shares during the period. 93.21% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Trimble

In other Trimble news, VP Jennifer Allison sold 3,156 shares of the business's stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $80.00, for a total transaction of $252,480.00. Following the sale, the vice president owned 2,882 shares in the company, valued at approximately $230,560. The trade was a 52.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Robert G. Painter sold 115,781 shares of the company's stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $82.83, for a total value of $9,590,140.23. Following the completion of the sale, the chief executive officer owned 114,879 shares in the company, valued at $9,515,427.57. The trade was a 50.20% decrease in their position. 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 over the last 90 days. 0.54% of the stock is owned by corporate insiders.

Trimble Stock Performance

Shares of TRMB stock traded down $1.40 during trading hours on Tuesday, reaching $81.40. 772,964 shares of the company traded hands, compared to its average volume of 1,575,577. The firm has a 50-day moving average price of $79.32 and a 200 day moving average price of $71.78. The company has a market cap of $19.37 billion, a P/E ratio of 70.14, a P/E/G ratio of 3.38 and a beta of 1.69. Trimble Inc. has a 12-month low of $52.91 and a 12-month high of $87.50. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.94 and a quick ratio of 0.81.

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

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. JPMorgan Chase & Co. lifted their target price on shares of Trimble from $95.00 to $96.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. Piper Sandler restated an "overweight" rating and issued a $84.00 target price on shares of Trimble in a research report on Thursday, May 8th. Oppenheimer boosted their target price on shares of Trimble from $88.00 to $94.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. Raymond James Financial reaffirmed an "outperform" rating and issued a $93.00 price objective (up from $85.00) on shares of Trimble in a research note on Thursday, August 7th. Finally, Wall Street Zen upgraded shares of Trimble from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. One analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the company's stock. Based on data from MarketBeat.com, Trimble has a consensus rating of "Buy" and an average target price 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.