Trimble Inc. $TRMB Shares Sold by State of New Jersey Common Pension Fund D

Key Points

• The State of New Jersey Common Pension Fund D reduced its holdings in Trimble Inc. by 11.2%, selling 9,861 shares, which brought its total ownership to 78,554 shares valued at approximately $5.16 million.
• Insiders have sold 228,894 shares of Trimble stock in the last quarter, with the VP and CEO notably reducing their own stakes by over 50%.
• Analysts are optimistic about Trimble, with multiple firms raising their price targets, resulting in an average price target of $90.50 and a consensus rating of "Buy."

State of New Jersey Common Pension Fund D lowered its holdings in Trimble Inc. (NASDAQ:TRMB - Free Report) by 11.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 78,554 shares of the scientific and technical instruments company's stock after selling 9,861 shares during the period. State of New Jersey Common Pension Fund D's holdings in Trimble were worth $5,157,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the business. American Century Companies Inc. boosted its stake in shares of Trimble by 11.5% during the 1st quarter. American Century Companies Inc. now owns 17,192 shares of the scientific and technical instruments company's stock valued at $1,129,000 after buying an additional 1,771 shares during the last quarter. Ethic Inc. raised its holdings in Trimble by 33.6% in the first quarter. Ethic Inc. now owns 21,176 shares of the scientific and technical instruments company's stock valued at $1,384,000 after acquiring an additional 5,320 shares in the last quarter. Element Capital Management LLC bought a new position in Trimble during the 1st quarter valued at $2,597,000. Liontrust Investment Partners LLP grew its holdings in Trimble by 11.8% during the 1st quarter. Liontrust Investment Partners LLP now owns 257,327 shares of the scientific and technical instruments company's stock worth $16,894,000 after acquiring an additional 27,114 shares in the last quarter. Finally, Horizon Investments LLC increased its position in shares of Trimble by 5.6% in the 1st quarter. Horizon Investments LLC now owns 3,528 shares of the scientific and technical instruments company's stock worth $232,000 after purchasing an additional 188 shares during the last quarter. Institutional investors and hedge funds own 93.21% of the company's stock.

Insider Activity

In other Trimble news, VP Jennifer Allison sold 3,156 shares of the business's stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $80.00, for a total transaction of $252,480.00. Following the completion of the transaction, the vice president directly owned 2,882 shares of the company's stock, valued at $230,560. The trade was a 52.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Robert G. Painter sold 115,781 shares of the firm's stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $82.83, for a total transaction 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. In the last quarter, insiders have sold 228,894 shares of company stock valued at $18,996,091. 0.54% of the stock is owned by company insiders.

Analysts Set New Price Targets

TRMB has been the topic of a number of recent analyst reports. Piper Sandler restated an "overweight" rating and issued a $84.00 target price on shares of Trimble in a research note on Thursday, May 8th. Wall Street Zen upgraded Trimble from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. JPMorgan Chase & Co. lifted their target price on Trimble from $95.00 to $96.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. Oppenheimer boosted their price target on Trimble from $88.00 to $94.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. Finally, Raymond James Financial restated an "outperform" rating and set a $93.00 price objective (up from $85.00) on shares of Trimble in a research note on Thursday, August 7th. Eight research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Buy" and an average price target of $90.50.

Trimble Stock Up 0.7%

Shares of Trimble stock opened at $82.80 on Tuesday. Trimble Inc. has a twelve month low of $52.91 and a twelve month high of $87.50. The stock has a market capitalization of $19.70 billion, a price-to-earnings ratio of 71.38, a PEG ratio of 3.38 and a beta of 1.69. 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 business's 50 day simple moving average is $79.32 and its 200-day simple moving average is $71.78.

Trimble (NASDAQ:TRMB - Get Free Report) last posted 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. The company had revenue of $875.70 million for the quarter, compared to analysts' expectations of $835.81 million. Trimble had a return on equity of 10.24% and a net margin of 8.02%. The firm's quarterly revenue was up .6% compared to the same quarter last year. During the same period last year, the business posted $0.62 earnings per share. Equities research analysts forecast that Trimble Inc. will post 2.37 earnings per share for the current year.

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.

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