Trimble Inc. $TRMB Shares Sold by Aberdeen Group plc

Key Points

• Aberdeen Group plc reduced its position in Trimble Inc. by 54.0%, selling 287,864 shares and holding 244,961 shares, which represents 0.10% of the company worth approximately $15.9 million.
• Other institutional investors, including Liontrust Investment Partners and Boston Partners, have increased their stakes in Trimble, leading to 93.21% of Trimble's stock being owned by institutional investors and hedge funds.
• Trimble reported $0.71 earnings per share for the last quarter, surpassing estimates, with revenue rising to $875.7 million, while the stock has an average price target of $90.50.

Aberdeen Group plc cut its position in Trimble Inc. (NASDAQ:TRMB - Free Report) by 54.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 244,961 shares of the scientific and technical instruments company's stock after selling 287,864 shares during the period. Aberdeen Group plc owned 0.10% of Trimble worth $15,910,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Liontrust Investment Partners LLP boosted its stake in Trimble by 11.8% during the first quarter. Liontrust Investment Partners LLP now owns 257,327 shares of the scientific and technical instruments company's stock worth $16,894,000 after buying an additional 27,114 shares during the last quarter. Horizon Investments LLC boosted its stake in Trimble by 5.6% during the first quarter. Horizon Investments LLC now owns 3,528 shares of the scientific and technical instruments company's stock worth $232,000 after buying an additional 188 shares during the last quarter. Fox Run Management L.L.C. acquired a new position in Trimble during the first quarter worth $660,000. Kovitz Investment Group Partners LLC boosted its stake in Trimble by 0.8% during the first quarter. Kovitz Investment Group Partners LLC now owns 38,168 shares of the scientific and technical instruments company's stock worth $2,506,000 after buying an additional 292 shares during the last quarter. Finally, Boston Partners boosted its stake in Trimble by 7.9% during the first quarter. Boston Partners now owns 3,644,965 shares of the scientific and technical instruments company's stock worth $237,884,000 after buying an additional 267,829 shares during the last quarter. 93.21% of the stock is owned by institutional investors and hedge funds.

Trimble Price Performance

TRMB stock opened at $82.80 on Tuesday. The company has a current ratio of 0.94, a quick ratio of 0.81 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $19.70 billion, a PE ratio of 71.38, 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 business's fifty day moving average price is $79.32 and its 200 day moving average price is $71.78.

Trimble (NASDAQ:TRMB - Get Free Report) last posted its quarterly earnings data 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. The firm had revenue of $875.70 million for 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%. The company's quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.62 EPS. On average, sell-side analysts anticipate that Trimble Inc. will post 2.37 EPS for the current year.

Insider Transactions at Trimble

In related news, Director Kaigham Gabriel sold 6,511 shares of the business'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 in the company, valued at approximately $1,286,046.91. The trade was a 26.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Mark David Schwartz sold 1,404 shares of the company's stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $80.00, for a total value of $112,320.00. Following the sale, the vice president owned 21,001 shares in the company, valued at approximately $1,680,080. This trade represents a 6.27% 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 worth $18,996,091 over the last quarter. 0.54% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have weighed in on TRMB. JPMorgan Chase & Co. boosted their price objective on Trimble from $95.00 to $96.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. Oppenheimer lifted their target price 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 restated an "overweight" rating and issued a $84.00 target price on shares of Trimble in a research report on Thursday, May 8th. Raymond James Financial restated an "outperform" rating and issued a $93.00 target price (up previously from $85.00) on shares of Trimble in a research report on Thursday, August 7th. Finally, Wall Street Zen upgraded Trimble from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Trimble has an average rating of "Buy" and a consensus target price of $90.50.

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.

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