Truvestments Capital LLC Sells 3,914 Shares of Trimble Inc. $TRMB

Key Points

• Truvestments Capital LLC significantly reduced its stake in Trimble Inc., dropping by 74.8% and now holds shares worth $87,000 after selling 3,914 shares in the first quarter.
• Trimble recently reported earnings of $0.71 per share, exceeding analyst expectations of $0.63, with a revenue of $875.70 million for the quarter.
• Analysts have set price targets for Trimble, with Piper Sandler and JPMorgan Chase raising targets to $84.00 and $96.00 respectively, while the consensus price target is $90.50.

Truvestments Capital LLC cut its holdings in Trimble Inc. (NASDAQ:TRMB - Free Report) by 74.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,321 shares of the scientific and technical instruments company's stock after selling 3,914 shares during the quarter. Truvestments Capital LLC's holdings in Trimble were worth $87,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. OneDigital Investment Advisors LLC grew its holdings in Trimble by 30.1% during the first quarter. OneDigital Investment Advisors LLC now owns 4,077 shares of the scientific and technical instruments company's stock worth $268,000 after buying an additional 943 shares in the last quarter. DAVENPORT & Co LLC grew its stake in Trimble by 6.0% in the 1st quarter. DAVENPORT & Co LLC now owns 7,956 shares of the scientific and technical instruments company's stock valued at $522,000 after purchasing an additional 452 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in Trimble by 7.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 35,876 shares of the scientific and technical instruments company's stock valued at $2,355,000 after purchasing an additional 2,397 shares during the period. Allspring Global Investments Holdings LLC grew its stake in Trimble by 10.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 42,719 shares of the scientific and technical instruments company's stock valued at $2,793,000 after purchasing an additional 4,185 shares during the period. Finally, GAMMA Investing LLC grew its stake in Trimble by 25.1% in the 1st quarter. GAMMA Investing LLC now owns 5,275 shares of the scientific and technical instruments company's stock valued at $346,000 after purchasing an additional 1,059 shares during the period. 93.21% of the stock is owned by institutional investors and hedge funds.

Trimble Price Performance

Shares of Trimble stock traded down $1.39 during trading on Friday, hitting $80.82. 1,210,105 shares of the stock traded hands, compared to its average volume of 1,759,093. The company has a quick ratio of 0.81, a current ratio of 0.94 and a debt-to-equity ratio of 0.25. The stock has a market cap of $19.23 billion, a price-to-earnings ratio of 69.67, a PEG ratio of 3.32 and a beta of 1.66. The firm's fifty day moving average is $80.99 and its 200-day moving average is $72.23. Trimble Inc. has a 52 week low of $52.91 and a 52 week high of $87.50.

Trimble (NASDAQ:TRMB - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The scientific and technical instruments company reported $0.71 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 analyst estimates of $835.81 million. Trimble had a return on equity of 10.24% and a net margin of 8.02%.The company's revenue was up .6% on a year-over-year basis. During the same period in the prior year, the company earned $0.62 EPS. Research analysts expect that Trimble Inc. will post 2.37 EPS for the current fiscal year.

Insider Activity

In other news, VP Jennifer Allison sold 3,156 shares of the 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 transaction, the vice president directly owned 2,882 shares in the company, valued at approximately $230,560. This represents a 52.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Mark David Schwartz sold 1,476 shares of the stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $78.00, for a total value of $115,128.00. Following the transaction, the vice president owned 22,405 shares in the company, valued at $1,747,590. This trade represents a 6.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 222,383 shares of company stock worth $18,529,318. 0.54% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on TRMB shares. 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. Oppenheimer increased their price objective on Trimble from $88.00 to $94.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. JPMorgan Chase & Co. increased their price objective on Trimble from $95.00 to $96.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. Wall Street Zen raised Trimble from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Finally, Raymond James Financial reaffirmed an "outperform" rating and issued a $93.00 price target (up previously from $85.00) on shares of Trimble in a report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the company's stock. According to data from MarketBeat, the stock has an average 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.