Trimble Inc. $TRMB Stock Acquired by Pinnacle Associates Ltd.

Key Points

• Pinnacle Associates increased its Trimble stake by 52.7% in the third quarter, adding 131,528 shares to own 381,026 shares worth approximately $21.8 million. Institutional investors collectively hold 93.21% of TRMB.
• Analyst sentiment remains generally positive, with eight Buy ratings, two Holds and one Sell; the stock has an average “Moderate Buy” rating and an $80 price target, despite some recent downgrades.
• Trimble exceeded quarterly expectations, reporting $0.86 in earnings per share versus an $0.80 estimate and $972 million in revenue, up 11% year over year. A director separately sold 1,718 shares at an average price of $60 under a pre-arranged trading plan.

Pinnacle Associates Ltd. lifted its stake in Trimble Inc. (NASDAQ:TRMB - Free Report) by 52.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 381,026 shares of the scientific and technical instruments company's stock after buying an additional 131,528 shares during the period. Pinnacle Associates Ltd. owned about 0.16% of Trimble worth $21,760,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of TRMB. BlackRock Inc. acquired a new position in Trimble during the second quarter worth $1,096,304,000. State Street Corp lifted its holdings in shares of Trimble by 7.9% during the second quarter. State Street Corp now owns 11,644,706 shares of the scientific and technical instruments company's stock valued at $595,976,000 after acquiring an additional 849,549 shares during the period. Generation Investment Management LLP acquired a new position in Trimble in the second quarter valued at about $367,994,000. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Trimble by 15.4% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,756,603 shares of the scientific and technical instruments company's stock worth $245,043,000 after acquiring an additional 501,853 shares in the last quarter. Finally, Primecap Management Co. CA bought a new stake in shares of Trimble during the second quarter worth $200,405,000. Institutional investors own 93.21% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Raymond James Financial cut Trimble from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, July 22nd. Piper Sandler reiterated an "overweight" rating and set a $87.00 target price on shares of Trimble in a research report on Thursday, August 13th. JPMorgan Chase & Co. dropped their target price on shares of Trimble from $76.00 to $75.00 and set an "overweight" rating for the company in a research report on Thursday, October 8th. Weiss Ratings raised Trimble from a "sell (d)" rating to a "sell (d+)" rating in a research note on Thursday, October 8th. Finally, Wall Street Zen lowered Trimble from a "buy" rating to a "hold" rating in a research report on Sunday, October 4th. Eight analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $80.00.

Insider Buying and Selling

In other Trimble news, Director Kaigham Gabriel sold 1,718 shares of the company's stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $60.00, for a total value of $103,080.00. Following the completion of the sale, the director owned 17,426 shares of the company's stock, valued at approximately $1,045,560. This represents a 8.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.59% of the company's stock.

Trimble Price Performance

Trimble stock opened at $62.12 on Wednesday. The company has a current ratio of 0.95, a quick ratio of 0.82 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $14.49 billion, a P/E ratio of -126.77, a PEG ratio of 1.94 and a beta of 1.34. The business has a 50-day moving average of $58.86 and a 200-day moving average of $57.86. Trimble Inc. has a 1 year low of $47.92 and a 1 year high of $84.42.

Trimble (NASDAQ:TRMB - Get Free Report) last announced its quarterly earnings results on Wednesday, August 12th. The scientific and technical instruments company reported $0.86 earnings per share for the quarter, beating analysts' consensus estimates of $0.80 by $0.06. Trimble had a negative net margin of 2.77% and a positive return on equity of 12.29%. The business had revenue of $972.00 million for the quarter, compared to the consensus estimate of $952.09 million. During the same period last year, the company posted $0.71 EPS. Trimble's revenue for the quarter was up 11.0% on a year-over-year basis. Trimble has set its Q3 2026 guidance at 0.830-0.880 EPS and its FY 2026 guidance at 3.600-3.700 EPS. On average, equities analysts anticipate that Trimble Inc. will post 3.10 EPS for the current year.

About Trimble

Trimble Inc develops technology solutions that connect the physical and digital worlds across construction, geospatial, transportation, agriculture, natural resources and other industrial markets. Its portfolio combines positioning technologies, field and office software, data services, connected devices and autonomous or machine-control systems to help customers plan, measure, build, manage and maintain physical assets.

The company's products and services include surveying and mapping equipment, global navigation satellite system and positioning technologies, construction modeling and project-management software, machine-control systems, fleet and transportation-management solutions, and agricultural guidance and precision-farming tools.

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