Vontobel Holding Ltd. Sells 94,492 Shares of Trimble Inc. (NASDAQ:TRMB)

Vontobel Holding Ltd. decreased its stake in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) by 12.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 674,811 shares of the scientific and technical instruments company's stock after selling 94,492 shares during the period. Vontobel Holding Ltd. owned about 0.27% of Trimble worth $44,301,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Mather Group LLC. boosted its position in Trimble by 271.1% in the first quarter. Mather Group LLC. now owns 2,746 shares of the scientific and technical instruments company's stock worth $180,000 after purchasing an additional 2,006 shares during the last quarter. New York State Teachers Retirement System grew its position in Trimble by 4.5% during the first quarter. New York State Teachers Retirement System now owns 198,955 shares of the scientific and technical instruments company's stock valued at $13,061,000 after buying an additional 8,553 shares during the period. Amalgamated Bank increased its holdings in Trimble by 1.6% during the first quarter. Amalgamated Bank now owns 47,664 shares of the scientific and technical instruments company's stock valued at $3,129,000 after buying an additional 762 shares during the last quarter. KBC Group NV raised its position in Trimble by 7.8% in the first quarter. KBC Group NV now owns 172,076 shares of the scientific and technical instruments company's stock worth $11,297,000 after acquiring an additional 12,454 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its position in Trimble by 10.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 42,719 shares of the scientific and technical instruments company's stock worth $2,793,000 after acquiring an additional 4,185 shares during the period. 93.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on TRMB. Piper Sandler restated an "overweight" rating and issued a $84.00 price objective on shares of Trimble in a research note on Thursday, May 8th. JPMorgan Chase & Co. upped their price target on Trimble from $84.00 to $88.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 14th. Finally, Wall Street Zen cut Trimble from a "buy" rating to a "hold" rating in a research report on Thursday, May 8th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $88.43.

Trimble Price Performance

Shares of NASDAQ TRMB traded up $1.40 during mid-day trading on Wednesday, reaching $77.86. The company's stock had a trading volume of 1,004,436 shares, compared to its average volume of 1,391,293. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.84 and a quick ratio of 0.72. Trimble Inc. has a 52 week low of $48.65 and a 52 week high of $77.89. The stock has a fifty day moving average of $70.29 and a two-hundred day moving average of $69.67. The firm has a market capitalization of $18.58 billion, a PE ratio of 12.70, a P/E/G ratio of 3.26 and a beta of 1.67.

Trimble (NASDAQ:TRMB - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The scientific and technical instruments company reported $0.61 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.60 by $0.01. Trimble had a net margin of 42.40% and a return on equity of 9.87%. The business had revenue of $840.60 million during the quarter, compared to analyst estimates of $810.45 million. During the same period last year, the firm posted $0.64 EPS. The company's revenue was down 11.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Trimble Inc. will post 2.37 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Kaigham Gabriel sold 6,511 shares of the firm's stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $71.69, for a total transaction of $466,773.59. Following the completion of the transaction, the director owned 17,939 shares in the company, valued at $1,286,046.91. This trade represents a 26.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.54% of the stock is currently owned by insiders.

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.